07/15/2026
Bank of Canada Holds Interest Rate Steady
As expected, the Bank of Canada has announced that it is keeping its overnight lending rate unchanged at 2.25%.
What does this mean for homeowners and buyers?
Variable-rate mortgages and HELOCs tied to Prime are not expected to see a payment change as a result of today's announcement.
While inflation has been higher recently due in part to rising energy prices, the Bank believes it will gradually return to its 2% target over time. Canada's economy is showing signs of improvement, but uncertainty remains with global events and trade.
What this means if you're thinking about buying or refinancing:
🏡 Mortgage rates remain competitive.
📊 This pause provides some stability for borrowers planning their next move.
💬 Every situation is different, so it's still important to review your options before making a decision.
The Bank of Canada's next interest rate announcement is scheduled for September 2, 2026.
If you've been wondering whether now is a good time to buy, refinance, renew your mortgage, or access equity in your home, I'd be happy to help you review your options.
📞 Feel free to reach out anytime—I'm always happy to chat.
Holly Heppner
Mortgage Broker
Office. 778.716.6726
P. 250.927.2786
E. [email protected]
W. http://www.hollyheppner.com
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113-2nd Ave West Qualicum Beach, BC, V9K 1T5
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