Bank of Canada Keeps a Steady Rate, a Smiling Samson & a Gift Horse

West Coast Mortgages - Mortgage Brokers

Jamie Moi ~ Michelle Chandra

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No Changes To Prime Rate As Fixed Rates Bounce Around

 

The Bank of Canada met this morning and, to little surprise, they maintained their overnight rate, keeping Prime at 4.45%.  We have seen fluctuations to the bond market, primarily due to the conflict in Iran, and increased oil prices, which means that lenders have been changing up their fixed rates quite a bit. 

With mortgage rates having come down over 1% in the last year, we are seeing more activity in the real estate market. Finally!

If your rate is over 5% it might be worth a conversation to see if refinancing is worthwhile.  It never hurts to ask!  We are always happy to help answer any of your mortgage questions.  



The Bank of Canada held its key interest rate and is warning of higher inflation. Here’s what you need to know.

 

By Annie Bergeron-Oliver for CTV

Updated: April 29, 2026 at 11:36AM EDT

Published: April 29, 2026 at 5:54AM EDT

OTTAWA — The Bank of Canada is holding its key policy interest rate at 2.25 per cent for the fourth consecutive time as it warns of higher inflation for the short term.

In its first monetary policy report (MPR) since January, the central bank projects inflation will peak around three per cent in April, before declining to its two per cent target early next year.

That drop in inflation is based off an assumption that U.S. tariffs will remain at the current rate and that oil prices will drop from US$90 in the second quarter of 2026 to US$75 a barrel by mid-2027. That’s a 15-dollar-per-barrel increase since the bank’s previous MPR.

“After more than a year with inflation close to the two per cent target, higher global energy prices are pushing inflation up,” Bank of Canada Governor Tiff Macklem said in his opening remarks. “The surge in gasoline prices combined with still-elevated food price inflation is squeezing more Canadians.”

A deeper dive into the various components of the consumer price index (CPI), which measures inflation, shows that rent and food prices remain higher than average, while other components have dropped back to their historical norms.

Continue reading here...



Samson's Still Smiling

 

It has been hard times recently for our sweet little Samson. Poor Sam had to have surgery to remove bladder stones last month. Though we aren't sure if it was harder on him or his mommies! 

He has recovered like a champ and is now almost back to normal.  A big shout out to the wonderful team at Boundary Bay Veterinary Hospital for taking such good care of our boy, even if he was considered a violent offender and mostly tried to eat all the staff. 

He may be our sweet baby boy, but he is 13 and can be a little grumpy when he's in pain.  Fortunately, none of the excellent staff was injured... much.  



Don't Look a Gift Horse In The Mouth

 

Or maybe this title should be "Don't look a gift cherry tree in the mouth".  Last month we told you about the unexpected gift of a cherry tree from Michelle's mom, and how we hoped it would do something in its first year. 

Well, Spring has sprung, and the little tree has shown us her first cherry blossoms.  They smell amazing!  While it remains to be seen if we will actually get any cherries, the little tree is proving to be a beautiful addition to the back yard.

The apple tree is also in full bloom and now we are thinking that we need another fruit tree back there. We would love to hear your suggestions for what does well on the water in the Fraser Valley! 



Can't Get More Canadian Than That!

 

This month our pair of Canadian geese returned to the riverbank to nest.  They are large, loud, demanding and worth steering clear of.  We are extremely grateful that, unlike years past, the geese have kept to the riverbank and not filled our yard with poop. At least not yet. 

Currently our view is the geese nesting by a rushing river in front of snow topped mountains. All we are missing is a family of beavers industriously building a dam and a bathing moose. Talk about Canadian!



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