10/28/2026
🏦 Bank of Canada Raises Interest Rates | October 28, 2026
The Bank of Canada has increased its key interest rate by 0.25 percentage points, bringing it to 2.50%. This marks the first rate hike since July 2023.
The decision comes amid renewed inflation concerns and could mean higher borrowing costs for Canadians.
🏡 What does this mean for real estate?
Homebuyers may face higher borrowing costs, while homeowners with variable-rate mortgages could see increased interest expenses or monthly payments, depending on their mortgage terms.
Whether you're buying, selling, or renewing your mortgage, staying informed is more important than ever.
Limelight Realty Inc. | London, Ontario