06/10/2026
Rates hold steady! A decision widely expected by economists, "The central bank announced this morning that it was keeping that trendsetting interest rate, which directly impacts variable mortgage rates, at its current level of 2.25%. That marks the fifth consecutive rate hold in a row, a streak that began in December and has continued through 2026" cited by CMP Magazine.
With so much current global instability, it's suggested there may very well be a freeze on this rate until the end of 2026. Highly dependent on the outcome and duration of the conflict in Iran, Bank of Canada governor Tiff Macklem will have the ear of many Canadians this morning as he cautiously addresses the vision going forward.
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