mortgage renew

The Bank of Canada cut rates five times last year. The overnight rate dropped from 5% to 2.25%. By every surface-level reading, mortgage holders should be breathing easier. But if you locked a five-year fixed rate in 2021, your renewal letter this year tells a different story. Your new rate isn't 1.79% anymore. It's north of 4%. And the monthly payment shock is real — roughly 800,000...

In December 2025, the Bank of Canada held its policy interest rate at 2.25%. As we approach the next announcement on January 28th, the consensus is that rates will likely remain flat or see a minor adjustment. On paper, 2.25% is an attractive number. It is a massive drop from the highs of 2024. In a typical real estate cycle, a rate drop of this magnitude usually sparks immediate bidding wars and...