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BoC Opens the Door to Rate Hikes: What It Means for Your Mortgage

  Published September 4, 2026 The Bank of Canada held its policy rate at 2.25% on September 2 — the seventh straight hold — but Governor Tiff Macklem didn't sound like a central banker done for the year. He told reporters the Bank is "prepared to raise interest rates, and if it takes more than one increase, we're prepared to do that," if inflation stays too high. That's a real shift in tone, and it lands right as a wave of Canadians hit their mortgage renewal date. Here's what changed, who's forecasting what, and what it actually means for your payment. Why the Bank Suddenly Sounds Hawkish Canada's annual inflation rate has climbed to around 3% — a full point above the Bank's 2% target — and the Bank is pointing squarely at energy prices. Oil has stayed elevated because of the Iran conflict and disruption near the Strait of Hormuz, pushing gas prices up and dragging headline CPI with it. Core inflation, which strips out food and energy, is still s...
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Canadian Housing Market Enters Winter Hibernation: What You Need to Know

 


According to a recent news article, the Canadian Real Estate Association (CREA) has reported that home sales in Canada have slowed down in October, with a 5.6% decline compared to September. The article also mentions that both buyers and sellers appear to be holding off for the time being, with some sellers shelving their plans until next spring.

The causes of the slowdown are attributed to various factors, such as higher interest rates, tighter lending rules, rising home prices, and the impact of the COVID-19 pandemic on the economy and consumer confidence. The article also notes that some regions of British Columbia are starting to see softening in average home prices, while average home price declines are still uncommon throughout most of Canada’s major cities.

Despite the slowdown, the Canadian housing market remains active, with 33,921 homes sold in Canada in October, up 0.9% compared with the same month last year. The national average home price rose 1.8% year-over-year to $656,625.

If you’re planning to buy or sell a home in Canada, it’s advisable to keep an eye on the market trends and consult with a licensed real estate agent or mortgage broker. They can provide you with valuable insights and advice on how to navigate the current market conditions and make informed decisions.


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