The Bank of Canada announced on July 15 that it is holding its key interest rate at 2.25%.
So, what does that actually mean if you're buying, selling, or simply keeping an eye on the market?
✔️ If you have a variable-rate mortgage: Your payments won't change because of the announcement.
✔️ If you're thinking of buying: Borrowing costs remain stable, giving you more certainty as you plan your next move.
✔️ If you're thinking of selling: Stable interest rates help maintain buyer confidence, keeping qualified buyers active in the market.
The biggest takeaway?
Don't wait for headlines to make your real estate decisions. The best time to buy or sell depends on your goals, your finances, and what's happening in your local market—not just whether rates move up or down by a quarter point.
If you've been wondering whether now is the right time to make a move, let's have a conversation about what BOC’s announcement means for your situation.
Contact me now—I’m always happy to help!