Michael Hammond, Mortgage Intelligence

06/10/2026

The Bank of Canada announced its latest interest rate decision this morning and, as expected, it has chosen to hold its benchmark interest rate at 2.25%.

Today's announcement is largely a "stay the course" decision. Inflation has come down significantly from its peak, but ongoing global uncertainty has led the Bank of Canada to take a cautious approach. With the economy and labour market remaining relatively stable, the Bank has chosen to keep rates unchanged while it continues to monitor future economic conditions.

If you currently have a variable-rate mortgage or HELOC nothing changes today.

If you're coming up for renewal this year, now is still a great time to start reviewing your options. Many lenders remain competitive, and having a plan in place before your renewal date can help ensure you're getting the best solution for your situation.

If you're planning to buy a home this year, today's announcement brings some added certainty. With borrowing costs holding steady, buyers can take the time to explore their options, plan with confidence, and make informed decisions about their next move.

Looking ahead, the Bank of Canada has indicated it remains focused on keeping inflation under control while supporting economic stability. Most economists expect rates to remain relatively stable through the remainder of the year. Future decisions will continue to depend on inflation, employment data, and global economic developments.

As always, every mortgage situation is unique. If you have questions about how today's announcement affects your mortgage, renewal plans, refinancing options, or future home purchase goals, feel free to reach out. I'm always happy to help.

04/29/2026

The Bank of Canada announced its latest rate decision this morning, and as expected, they’ve held the overnight rate steady at 2.25%.

This means there’s no immediate change to variable mortgage rates or lines of credit. The bigger story is why they’re holding, and what that could mean for you if you’re buying or renewing your mortgage this year.

Right now, the Bank is navigating a lot of global uncertainty. Rising oil prices tied to the conflict in the Middle East are pushing inflation higher in the short term. At the same time housing and employment are showing signs of slowing. Because of that, they’re taking a cautious, wait-and-see approach before making any further moves.

If you’re buying a home this year, today’s decision gives you a bit of stability. Rates haven’t moved, which helps with planning. That said, fixed rates have been creeping up slightly due to bond yields, and market conditions can shift quickly. This is a good time to understand your options and lock in a strategy that works for your timeline.

If you’re coming up for renewal, you’re not alone. Many Canadians are in the same position after locking in lower rates a few years ago. Even with today’s hold, most renewals will still be at higher rates than before. The key right now is planning ahead. Reviewing your options early, looking at ways to manage cash flow, and making sure your mortgage still fits your financial goals.

One important thing I’m reminding clients is to try not to base big decisions on any single rate announcement. The market is being influenced by a mix of global events, inflation trends, and economic shifts. A well-thought-out plan will always outperform trying to time the market.

If you are wondering how this decision impacts you personally, I’m happy to walk through it with you. We can review your situation and make sure you’re set up properly for the months ahead.

We regularly receive short-term rate promotions that are not posted online, which means our rates change frequently. Please contact us for these unpublished rate specials.

Term Posted Rate Best Rate
6 Month 0.00% 0.00%
1 Year 5.84% 4.84%
2 Year 5.14% 4.34%
3 Year 6.05% 4.19%
4 Year 5.99% 4.29%
5 Year 6.09% 4.24%
7 Year 6.40% 5.05%
10 Year 6.80% 5.45%
Variable 3.60%

04/25/2026

🏡 Think you’re no longer a first-time buyer because you owned a home before?

Not so fast!

In Canada, first-time buyer status can actually reset. If neither you nor your spouse/common-law partner has owned and lived in a home in the past four years (plus the current year), you may still qualify for valuable programs and incentives.

That means you could still access things like the First Home Savings Account, RRSP Home Buyers’ Plan, land transfer tax rebates, and more.
Don’t miss out on benefits you might still be eligible for.

Connect with a Mortgage Broker to check your eligibility and maximize every advantage available to you.

03/18/2026

The Bank of Canada announced today that it is holding its benchmark interest rate at 2.25%, with no change from the previous announcement.

While the decision to hold rates was widely expected, the reasoning behind it offers important insight into where things may be headed. The Bank is currently balancing two key forces: on one hand, economic momentum in Canada is slowing, with recent data showing softer growth, a cooling labour market, and weaker near-term activity. On the other hand, renewed inflation pressures are emerging, as rising global energy prices, driven in part by geopolitical tensions, are expected to push inflation higher in the short term.

At the same time, underlying inflation has eased to around 2%, which is right in line with the Bank’s target. Today’s hold signals a “wait-and-see” approach. The Bank is assessing the impact of global uncertainty (including conflict and trade pressures), how the Canadian economy adjusts in the coming months, and whether inflation remains controlled or begins to rise again.

For homeowners and buyers, stability in rates provides a valuable window to plan. For variable-rate mortgages there is no immediate change to payments and fixed rates may continue to fluctuate based on bond market movements.

Looking ahead the Bank has made it clear it is prepared to act if needed, in either direction. If inflation rises more than expected, rate increases could return. If economic weakness deepens, rate cuts could still be on the table.

This is why having a clear strategy matters more than ever. Whether you're approaching a renewal, considering a purchase, or simply want to stay informed, now is a great time to review your options.

Feel free to reach out anytime, I’m here to help you navigate what comes next with confidence.

🏦📊 The Bank of Canada has held its policy rate at 2.25%.

A steady rate helps maintain consistency across the mortgage landscape, giving homeowners and buyers a clearer environment to plan in. Whether it’s understanding fixed vs variable options, timing a renewal, or evaluating a refinance, the right guidance makes the difference.

No need to stress - contact your Mortgage Broker to review your options today!

01/28/2026

The Bank of Canada decided to hold interest rates today, which means there was no change to the overnight rate. It remains at 2.25%. This is good news for many homeowners and buyers. Holding rates brings stability, and that’s helpful when planning your finances.

The Bank shared that inflation is staying close to its 2% target, which is a good sign. While there are still some global uncertainties, Canada’s economy is showing steady progress, and the Bank feels today’s rate level is appropriate for now.

Bank of Canada Governor Tiff Macklem said the economy is showing resilience, even with some challenges. Because of that, the Bank wants more time and information before making its next move.

If you have a fixed-rate mortgage, nothing changes. If you have a variable-rate mortgage, your rate stays the same. If you’re thinking about buying, renewing, or refinancing, this pause gives us time to plan carefully and make smart choices. Some experts believe the Bank could begin cutting rates later this year if the economy needs more support. Others think the Bank is being cautious, and that caution helps avoid sudden changes that can catch homeowners off guard.

Right now, the best move is to stay informed and have a plan. Everyone’s situation is different, and small timing decisions can make a big difference. If you’re coming up for renewal, thinking about making a move, or just want to understand how this affects your mortgage, I’m always happy to talk it through with you.

The next Bank of Canada rate announcement is scheduled for March 18, 2026, and I’ll continue to keep you updated.

10/29/2025

Some more info on today's BOC rate announcement.

Governor Tiff Macklem indicated further easing is unlikely without a major economic shift

10/29/2025

The Bank of Canada announced a 25-basis point rate cut today, bringing the overnight rate to 2.25%. This move reflects ongoing softening in the Canadian economy including slower business activity and easing inflation. It is intended to help support households during this transition.

While market dynamics are evolving, this rate drop could create meaningful opportunities depending on your current mortgage situation.

If you’re renewing soon…
A lower rate environment could improve your affordability and cash flow. It’s a great time to explore lenders and terms to avoid overpaying at renewal.

If you’re considering refinancing…
You may be able to:
- Lower your monthly payments
- Consolidate high-interest debt
- Access home equity for renovations or other financial goals

This change could make a refinance more cost-effective and worth reviewing sooner.

If you’re planning a purchase…
More favourable borrowing conditions may help expand affordability and boost confidence as you search for the right home.

Why reviewing your mortgage matters now

Economic conditions are shifting, and even small rate changes can have a big impact over the life of a mortgage. Whether this is a moment to lock in savings, increase flexibility, or prepare for future goals, I’m here to make sure you have the full picture.

You can reach me anytime, by simply messaging me.

09/18/2025

Yesterday's update brings encouraging news for the housing market. The Bank of Canada lowered its benchmark interest rate by 0.25% to 2.5%, a move aimed at supporting growth and easing pressure on households.

Why the Bank acted

Slowing inflation: Prices are cooling, and the Bank sees less risk of inflation heating back up.
Support for growth: A softer job market and trade uncertainty have weighed on the economy, but lower rates are designed to help Canadians weather those challenges.
Housing strength: Consumption and housing activity have already shown resilience, and today's move may give the market an extra boost.
Governor Tiff Macklem noted the decision was made to "better balance the risks going forward," and many economists expect more cuts could be on the horizon later this year.

What this means for you

Renewals: Lower rates may create opportunities to save money or improve flexibility. Reviewing early could put you ahead.
New buyers: Reduced borrowing costs can improve affordability and mortgage qualification which is great timing if you're considering a purchase.
Variable-rate mortgages: With rates trending downward, variable options may look more attractive again.
Refinancing or investing: Now could be the right time to explore equity take-out, renovations, or investment opportunities.
A brighter outlook

While the Bank is cautious about global trade, the housing market continues to show strong fundamentals like population growth, demand for homes, and consumer spending remain supportive. Lower rates can help keep that momentum going.

Whether you're renewing, buying, or planning ahead, now is the time to explore your options. I can help you understand how today's cut could work in your favour.

08/06/2025

06/04/2025

Pretty much as expected.

📢 Bank of Canada Holds Interest Rate at 2.75%

This morning, the Bank of Canada announced it will maintain its key overnight rate at 2.75%. The decision reflects ongoing concerns about U.S. trade policies, rising core inflation, and a softening domestic economy.

Governor Tiff Macklem emphasized a cautious approach, stating that the Bank is closely monitoring the balance between inflationary pressures and economic slowdown. Future rate adjustments will depend on evolving economic indicators and trade developments.

At Mortgage Intelligence, we understand that interest rate decisions impact your financial planning. Reach out to your Mortgage Broker with any question you might have. They are there to help you navigate these changes and make informed mortgage decisions.