🏦 Bank of Canada Holds Rates – What It Means for B.C. Mortgages

On July 30, 2025, the Bank of Canada kept its key interest rate at 2.75%. This marks the third time in a row they’ve held steady. The Bank is being cautious because inflation is still higher than it wants and there's uncertainty around U.S. trade policies.

🔍 What This Means for You ✅ Variable-Rate Mortgages

No change. Since the Bank held its rate steady, variable mortgage rates will stay the same for now.

✅ Fixed-Rate Mortgages

Fixed rates are based on bond markets. These have dropped slightly, so fixed mortgage rates might come down a little, but not by much yet.

🔁 Renewals Ahead

Most B.C. homeowners with five-year fixed mortgages will face higher payments when renewing in 2025–2026, likely around 10% more per month.

📅 What’s Next?

The next rate decision is on September 17. The Bank may cut rates later this year—if inflation falls more and trade worries ease.

Bottom Line:
Rates are holding steady. No big changes yet, but if things improve, mortgage relief may be coming later in 2025.

Let me know if you’d like a quick estimate based on your mortgage!