09/17/2026
Interest rates are back in the spotlight.
The U.S. Federal Reserve has increased its benchmark interest rate by 0.25%, its first increase in more than three years.
While the Bank of Canada makes its rate decisions independently, changes in the U.S. rate environment are important to watch here at home. The Bank of Canada held its policy rate at 2.25% earlier this month but noted that upside risks to inflation have increased. Its next rate decision is scheduled for October 28th.
For Canadians with variable-rate mortgages or other borrowing tied to prime, the next few months are worth paying attention to. If the Bank of Canada increases its policy rate, borrowing costs on these products will rise.
If you're currently in a variable-rate mortgage and wondering what a potential rate increase could mean for you, now is a good time to review your mortgage and understand the options available.
Have questions? We're always happy to help.
🌐 bmmortgages.ca