*Updated* Ongoing Bank of Canada Benchmark Rate Announcements

[Weitz]

I’m curious why your credit score matters when it comes to weighing risk on your mortgage rate?

[The Fonz]

Dropped 25bps today

[Ironhorse]

Damnit. We just renewed a few weeks ago.

[albertGQ]

My VRM is now 3.35%

Was at 5.85% a couple years ago

[blankall]

Another cut this morning, down to 2.25%:

https://www.cbc.ca/news/business/ban...r-29-9.6958126

[chemgear]

https://twitter.com/user/status/1996943295797199195

[The Fisher Account]

Gotta re-up in a couple months. Not planning to move any time soon.

What's the consensus here? Fixed or variable?

[fundmark19]

Originally Posted by The Fisher Account

Gotta re-up in a couple months. Not planning to move any time soon.

What's the consensus here? Fixed or variable?

Should have talked to your mortgage broker last week before rates jumped! It comes down to your risk tolerance and life. You could come out ahead with variable and the product is much more flexible if you need to break your mortgage.

It may also cause you to lose sleep at night if BOC needs to increase overnight lending rate again. Banks/economists are mixed on the outcome for the next year.

[Izzle]

https://bankofcanadaodds.com/

According to this website, at this point in time, consensus is that BoC will hold rates at the current level for the entirety of 2026.