Canada Rate Hold Shapes Mortgage Choices

Canada’s central bank kept its key rate near low-2%, leaving variable mortgage and secured credit line payments largely unchanged for current borrowers.
Mortgage renewals are the year's big focus, and one expert says homeowners nearing renewal may benefit from locking terms sooner amid uncertainty.
Many buyers are choosing fixed rates for stability, since variable mortgages can move when lender prime rates respond to central-bank changes later.
A fixed mortgage can make the largest housing cost predictable for 3 to 5 yr, while taxes, fees, insurance, and utilities remain variable.
Global forecasts point to one or two possible rate increases by late 2026, and a signal could bring pre-approved buyers back faster.