10/28/2026
🎥"Tomorrow, the Bank of Canada makes its next interest rate announcement, and with inflation at 3.1%, you maybe wondering… could rates go up?
Here’s what is happening: much of that inflation pressure is coming from gasoline prices, while core inflation remains close to 2%. At the same time, our economy is showing signs of weakness and job losses. That puts the Bank of Canada in a tough position.
But let’s talk about what this could actually mean for you.
If prime goes up by a quarter of a percent, that could mean roughly $14 more per month for every $100,000 of mortgage balance on a typical variable-rate mortgage.
Now, should you lock into a fixed rate? Fixed rates are already higher than some variable options, and we need to look at how much rates might rise, your financial situation, and how comfortable you are with uncertainty.
Don't make a mortgage decision based on headlines or fear.
If you have a variable-rate mortgage, a HELOC, or anything tied to prime, and have questions, reach out to my office.
Rasha Ingratta | Mortgage Team
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