07/15/2026
📢 The Bank of Canada has held its key interest rate at 2.25% for the third announcement in a row.
While there was no change to interest rates today, there were a few important updates that could affect homebuyers and homeowners:
📉 The Bank now expects Canada’s economy to grow a little more slowly in 2026. Slower economic growth can influence future interest rate decisions.
📊 Inflation remains close to the Bank’s 2% target, even though higher gas prices caused a temporary increase in May. This is a positive sign that inflation is continuing to stabilize.
🏡 Canada’s housing market has been quieter than usual, but there are signs it’s beginning to pick up again, with home sales increasing over the past few months.
So, what does this mean for you?
✅ If you’re buying a home, today’s rate hold provides some added stability while you shop.
✅ If your mortgage is coming up for renewal, now is a great time to review your options before making a decision.
✅ If you’re thinking about refinancing or making a move in the coming months, having a plan in place can help you take advantage of opportunities as the market evolves.
The next Bank of Canada announcement is scheduled for September 2.
Have questions about what today’s announcement means for your mortgage or home-buying plans? Reach out, I’m always happy to help!
