With the Bank of Canada holding its overnight rate steady at 2.25%, many of you are rightfully asking what this means for your current mortgage—or your next one. One-third of mortgage holders are now looking at renewal payments that are 20% higher, and we've seen a noticeable uptick in delinquencies, particularly in Ontario. As someone who’s helped clients in both BC and Alberta navigate these shifts since 2010, I can say lenders are paying close attention to these trends. While further rate hikes aren't expected until later in 2026, it's more important than ever to review your mortgage strategy—whether you're considering a refinance, exploring a HELOC, or dealing with a renewal. With access to banks, credit unions, and private lenders, I always look for the best fit for your unique financial situation. In a changing market, having options—and a plan—makes all the difference.
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