10/28/2026
Bank of Canada Rate Update | October 28, 2026
The Bank of Canada announced a 0.25% increase to its benchmark interest rate today, bringing it to 2.50%.
What does this mean for Ottawa homeowners and buyers?
If you have a variable-rate mortgage, your borrowing costs may increase. If you’re considering purchasing a home, it’s a good time to revisit your financing and understand your options.
Fixed mortgage rates don’t necessarily move in step with the Bank of Canada’s announcements.
As always, real estate decisions are best made with a clear understanding of your individual circumstances, not just the headlines.
Have questions about what this means for your next move? I’m always happy to chat.
Irving Real Estate
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