Bank of Canada Rate Update

The Bank of Canada continues to hold rates steady amid global uncertainty.

The Bank of Canada announced that it’s holding its key interest rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%.

For buyers, sellers and homeowners alike, this decision helps maintain a sense of stability, at least for now, in an otherwise uncertain economic climate.

Why It Matters for the Housing Market

When interest rates move, so do mortgage rates, and that can have a big impact on what buyers can afford and how sellers price their homes.

With the Bank choosing not to raise or lower rates this time, borrowing costs are likely to stay close to current levels in the short term. That could encourage some buyers to move forward with plans that were on hold during recent economic uncertainty.

Looking Ahead: More Questions Than Answers

The Bank is keeping a close eye on global trade tensions, especially unpredictable tariff changes out of the U.S., as well as inflation trends here at home.

While inflation has dipped to 1.7% (helped by the elimination of the federal carbon tax), core inflation is still slightly higher than expected, which could influence future rate decisions.

For now, the Bank is taking a “wait and see” approach. It’s watching how trade uncertainty, consumer spending, employment and inflation unfold before making its next move.

What Should You Do?

If you’re considering a home purchase, thinking about selling or wondering if it’s time to refinance, this rate hold presents an opportunity to act before things potentially change down the road.

The Grey Bruce real estate market continues to shift along with the economy, so having the right guidance can make all the difference.

If you ever have any questions about real estate, please don’t hesitate to reach out so that we can discuss your next move!