10/29/2026
What it costs you:
Policy rate: 2.25% → 2.50%
Prime: 4.45% → 4.70%
What that means if you have a variable mortgage (25-year amortization):
💸 $300K mortgage: about $41 more a month
💸 $400K mortgage: about $54 more a month
💸 $500K mortgage: about $68 more a month
Why? Inflation is still running hot, mostly from higher energy costs. The Bank has hinted more increases could come, and the next announcement is December 9.
Buying soon?
Don’t count on rates dropping in the next few months. Before you write an offer:
✔️Check that your pre-approval still works
✔️Confirm you have a rate hold
✔️Make sure your budget still fits
A quick call now can save you a financing surprise later!
Lisa Alexander|Realtor®
Blackmore Real Estate
780.932.9950
[email protected]