10/28/2026
Well, interest rates are heading up again. 📈
The Bank of Canada announced a 0.25 percentage point increase today, bringing its overnight lending rate to 2.50%.
After more than three years without a rate increase, we know this news will have people wondering what comes next, particularly if they're planning to buy, sell, or renew a mortgage.
Here's how we're looking at it.
For buyers, it's worth having another conversation with your mortgage broker, particularly if you're considering variable-rate financing. Understanding how a rate change affects your monthly payments and purchasing power is much more useful than reacting to a headline.
For homeowners, the impact depends on your mortgage. Variable-rate mortgages and home equity lines of credit may be affected, while existing fixed-rate mortgages generally aren't impacted immediately.
For sellers, interest rates can influence buyer behaviour, but they don't determine the value of your home on their own. What's happening in your neighbourhood, how your property compares to the competition, and how it's priced still play important roles.
One thing we've learned over our years in real estate is that there's rarely a perfect market for everyone.
Some people will choose to wait. Others will find that moving forward still makes sense.
Our role isn't to tell you which decision to make. It's to help you understand the numbers, the market, and your options so you can make the right decision for your circumstances.
If today's announcement has you wondering about your next move in Calgary or the surrounding communities, we're always happy to talk it through.
Tania King & Tina Hansen | CIR Realty