Taylor Hayes Mortgage Agent

10/15/2026

BMO is still taking the most cautious view on Bank of Canada rate hikes, forecasting the overnight rate to stay at 2.25% through 2027.

Other major banks are now expecting hikes sooner, with Scotiabank forecasting 3.25% by Q2 2027 and CIBC expecting rates to reach 2.75% by Q2 2027.

What this means for mortgages: Variable rates could remain relatively stable if BMO is right, but there’s growing uncertainty around future hikes.

Meanwhile, fixed rates remain more influenced by bond yields, with five-year GoC yields currently around 3.59%, keeping upward pressure on fixed mortgage rates.

10/14/2026

Mortgage renewal coming up in 2027? 👀

Don’t automatically renew with your current lender.

I can shop the market and compare options from a wide range of lenders.

Send me your renewal offer before you sign.

10/14/2026

Canadian home prices fell 3% year over year in September, with declines in Ontario and British Columbia offsetting gains in several other markets.

Canadian home prices fell 3% year over year in September, according to the RPS-Wahi House Price Index, with declines in Ontario and British Columbia

10/13/2026

Canada lost 68,300 jobs in September, pushing the unemployment rate up to 6.5% from 6.4%. Public-sector employment led the decline, particularly in education and healthcare, while manufacturing also shed jobs. Canada has now lost 41,200 jobs overall since December 2025, and annual wage growth increased to 2.3%.

The weakening job market could support keeping Bank of Canada rates on hold, but rising energy prices and inflation concerns continue to complicate the outlook.

Your weekly roundup of mortgage and housing news, plus the key releases to watch in the days ahead.

10/11/2026

Happy Thanksgiving! 🤎🍂

Wishing everyone a wonderful long weekend spent with family, friends, and the people who make a house feel like home.

I’m feeling especially grateful for the people who have trusted me to be part of their homeownership journeys this year. Thank you for your continued support, referrals, and for allowing me to be part of such an important milestone in your lives.

Wishing you all a weekend full of good food, great company, and lots to be thankful for. 🔐

10/09/2026

Canada lost 68,300 jobs in September, pushing the unemployment rate up to 6.5% from 6.4%. Public-sector employment led the decline, particularly in education and healthcare, while manufacturing also shed jobs. Canada has now lost 41,200 jobs overall since December 2025, and annual wage growth increased to 2.3%.

Mortgage takeaway: The weakening job market could support keeping Bank of Canada rates on hold, but rising energy prices and inflation concerns continue to complicate the outlook.

Employment in Canada fell by 68,300 last month, more than erasing previous job gains this year as the trade war with the U.S. drags on.

10/09/2026

5-year fixed mortgages are becoming much less popular. In July, only 8.8% of new mortgages had terms of five years or longer, the lowest level since records began in 2013.

Borrowers are increasingly choosing shorter fixed terms and variable mortgages, which can mean more exposure to future rate changes.

10/08/2026

Canada’s 5-year bond yield jumped to 3.67%, driven by rising oil prices and renewed inflation concerns. Since the 5-year yield influences fixed mortgage pricing, several major banks have recently increased fixed mortgage rates.

10/08/2026

The federal government is reviewing the future of Canada’s foreign homebuyer ban, which is set to expire January 1, 2027. Ottawa is considering whether to extend, modify, or let the ban expire as housing market conditions have changed. One option could be allowing foreign buyers to purchase new construction or development properties, similar to Australia’s approach.

Finance Minister François-Philippe Ch*****ne says the federal government is mulling its options ahead of the expiry of Canada’s foreign homebuyers ban at the end of the year.

10/07/2026

Whether you’re months away or years away from your goal, it’s worth knowing where you stand.

Reach out today and we can put a plan in place to help you get there. 🏡

HAYES MORTGAGE
Taylor Hayes
Mortgage Agent Level 2
📲 416-617-3956
📧 taylor@hayes@mortgage.ca