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📢 Bank of Canada Holds Its Policy Rate at 2.25%

The Bank of Canada announced today that it is maintaining its overnight policy rate at 2.25%.

For Canadians with variable-rate mortgages or lines of credit tied to prime, today’s rate hold means there should be no immediate rate-related change.

The Bank noted that Canada’s economy is beginning to show signs of improvement, while housing activity remains weak but appears to be stabilizing.

Inflation increased to 3.2% in May, primarily because of higher gasoline prices. However, the Bank expects inflation to gradually ease and return to approximately 2% in early 2027.

What does today’s announcement mean for you?

🏡 Variable-rate borrowers: Your interest rate should remain unchanged following today’s announcement.

🔑 Homebuyers: Borrowing costs remain stable for now, but mortgage qualification and affordability will continue to depend on your individual circumstances.

🔄 Homeowners approaching renewal: This is still an important time to review your mortgage early and compare the available fixed- and variable-rate options.

The Bank continues to monitor economic growth, inflation, global conflict and U.S. trade policy and has indicated that it is prepared to adjust monetary policy as needed.

The next Bank of Canada rate announcement is scheduled for September 2, 2026.

Have questions about how today’s announcement could affect your mortgage, renewal or upcoming purchase? Connect with our team at Integrity Tree Mortgages.

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