11/06/2026
Constantly trying to play it cool 🥶
The Bank of Canada raised its policy rate to 2.5% on October 28, up 0.25 percentage points.
That increase affects variable mortgages, but doesn’t directly change fixed rates. Some variable offers are still under 4%, with comparable fixed options roughly half to one percentage point higher, depending on the lender and term.
If you’ve been waiting for rates to drop, I’d start with the numbers: does the right home fit your life and your budget today? 👀