06/10/2026
The Bank of Canada held its overnight rate at 2.25% today, keeping the prime lending rate at 4.45%.
For borrowers with variable-rate mortgages, adjustable-rate mortgages, or lines of credit, there is no immediate change.
For those buying a home, this continued rate stability provides some certainty as we move through the summer market. For homeowners facing renewal this year, it’s a reminder that your mortgage strategy matters just as much as the rate itself.
While the headline inflation rate rose to 2.8%, the Bank made it clear that much of that increase is tied to higher energy prices rather than widespread inflation across the economy. In fact, core inflation measures have eased back toward the Bank’s 2% target.
Housing activity is showing signs of improvement, but affordability remains top of mind for many Canadians. Whether you’re buying, renewing, or exploring refinancing options, now is a good time to review your plan and understand what’s available.
