10/29/2025
🏦 Bank of Canada Key Rate Cut
New overnight rate: 2.25%
💰 Prime Rate Adjustment
The prime rate has been lowered to 4.45%.
🏠 Impact on Borrowers
Variable-rate and HELOC mortgage holders will see their interest rates decrease, which means:
Lower monthly payments if the lender adjusts payments automatically, or
More of each payment going toward principal if payments remain fixed.