07/16/2026
📢 Bank of Canada Update: No Change to Interest Rates
As expected, the Bank of Canada announced yesterday that it is holding its overnight rate at 2.25%. While rates remain unchanged, the Bank noted that Canada’s economy is showing signs of improvement, while continuing to monitor inflation and global economic uncertainty. (Bank of Canada)
What does this mean for you?
🏡 If you have a variable-rate mortgage, your interest rate and payment (for most variable products) will remain the same.
📈 Fixed mortgage rates are not directly set by the Bank of Canada, so they can still move based on bond market activity.
💰 If you’re thinking about buying, refinancing, or renewing your mortgage, this is still a great time to review your options and make sure you’re in the best position for your financial goals.
Every situation is different, and the right strategy depends on your plans—not just the headlines.
Have questions about what this announcement means for you? I’d be happy to help. Send me a message anytime!