BREAKING NEWS: Bank of Canada holds their rate steady
By Danny Bell – Premier Mortgage Centre
The Bank of Canada held their overnight rate steady at 2.25% for the seventh consecutive time. The last change was in October 2025.
Major banks have their Prime Rate at 4.45%.
The BoC is keeping a close eye on inflation and the volatile economic conditions that Canada (and the globe) is facing.
This is important for anyone with a variable-rate mortgage or line of credit, as changes to the Bank of Canada’s rate flows through to borrowing costs.
Fixed mortgage rates are driven by bond markets and don’t move directly with Bank of Canada changes. Bond markets have risen almost 0.15% over the past week, which means fixed rates could possibly increase soon. Time will tell.
Concerns around inflation, economic growth, and effects of global trade continue to create challenges.
Many Canadians are feeling the effects of higher living costs, affordability concerns, and increased mortgage payments at renewal.
My recommendation: Focus on cash flow and maintaining a healthy savings buffer to weather this economic climate for another few years.
Regards,
Danny Bell
Mortgage Broker
Premiere Mortgage Centre Inc.
P: 289-200-9061
E: danny.bell@premieremortgage.ca
Broker License #M13001996 | Brokerage License #10317
