10/28/2026
The Bank of Canada raised its rate today, up 0.25% to 2.50%. It’s the first rate hike since July 2023!
If you’ve been in a variable for a while, I see you, my people 🙌 I hope you’ve loved the savings as much as I have.
Why the Bank raised rates:
• Inflation is running higher and stickier than expected, around 3%
• High energy prices risk pushing up the cost of other goods
• The economy has picked up this year
What it means for you:
• Variable or adjustable rate: about $13–15 more a month per $100K of mortgage
• Fixed rate: your payment doesn’t change
No need to panic, it’s a small move. But the Bank says more increases are possible.
Questions? DM me or call 204-998-3761 📲
