This morning, the Bank of Canada once again held the overnight rate at 2.75%, keeping most lenders’ prime rates unchanged. That’s three meetings in a row without a change, and it may be that way through the end of 2025.
Why the pause? Inflation is sitting comfortably near the 2% target, the housing market is showing signs of life again, and the economy, despite global uncertainty and tariffs, continues to hold up. The Bank is watching how this balance plays out before making its next move.
But here’s the key: economists are now split on whether we’ll see any further rate cuts in 2025.
Here’s what you can do today:
- Considering buying a home? You might be catching the market at just the right moment. With housing prices flattening and inventory up, there are opportunities out there, especially before competition picks up again.
- Mortgage coming up for renewal? It’s a good time to explore custom strategies that protect you from rate volatility, whether that’s fixed, variable, or a mix.
- Thinking about refinancing? This could be your chance to consolidate high-interest debt or access equity before rates shift again.
It’s not just about what the Bank of Canada does next. It’s about how we prepare today to make the most of whatever comes tomorrow.
Your trust and referrals mean the world to me. If someone in your circle needs mortgage advice, I’m always just a message away.
If you’re interested in reviewing your strategy, book a meeting: www.chatwithlisareynolds.ca
