If you have a variable-rate mortgage in Canada, you might be watching the prime rate closely. As of now, the Bank of Canada has kept its rate steady at 2.25%, which means the prime rate remains at 4.45%. For anyone with a variable-rate mortgage, that means your payments and rate won’t change—at least for the moment. Fixed rates are a different story, as they’re tied to bond yields rather than the prime rate.
Having spent over two decades as a mortgage underwriter before becoming a Mortgage Agent, I know how these subtle shifts can make a real difference, especially if you’ve been feeling overlooked by traditional lenders or have a unique financial situation. My focus is always on making sure you’re informed and confident, no matter how the rates move. If you ever want to discuss how these changes might impact your own mortgage or future plans, I’m here to help with honest advice and a strategy that fits your life.
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