On April, 16th 2025 Bank of Canada (BoC) held the overnight interest rate at 2.75%. On the surface, this might feel like a non-event—but there’s a lot happening behind the scenes that you need to understand if you’re holding a mortgage, buying a home, or just trying to figure out what comes next in this weird housing market.
Let’s get real: The BoC is in a tight spot. On one hand, Trump’s new tariffs are creating economic ripples across global markets. On the other, we’re still dealing with sticky inflation at home—especially in sectors like energy and housing. Holding rates at 2.75% isn’t a sign that everything is fine. It’s more like saying, “We don’t want to rock the boat just yet.”
From what I’m seeing, the Bank is watching and waiting. They’re trying to buy time and keep optionality open. But they’re also very aware that too much pressure on borrowers could trigger a slowdown we’re not ready for.
If you’ve got a variable rate mortgage, you’re getting a bit of a break here. Your payment isn’t going up—for now. That’s a win in this environment. But if you’re about to renew, or you’re considering buying, there’s more to think about.
Bond yields—which influence fixed rates—have been slowly creeping up again. That means some fixed mortgage rates could rise, even with the BoC holding. This is where strategy matters. Some of my clients are leaning into variable, while others are locking in shorter fixed terms to ride out the uncertainty.
Not sure which way to go? This is where personalized advice matters. Every situation is different. If you’re unsure, I’d love to help you break it down.
Book a 15-minute Consultation with Me
Let’s figure out the best option for your goals, income, and timeline.
The housing market right now? Kind of a paradox.
We’ve got low sales volume, high inventory, and steady prices. That’s not how this usually goes. But immigration is still strong, housing starts have slowed, and most homeowners are sitting tight on those pre-2022 rates.
That’s why, even though listings are up, good properties are still moving fast—especially in hot pockets of Vancouver, Calgary, and the GTA. I’ve had clients go from thinking “it’s a buyer’s market” to “we’re in a bidding war” within a week.
This market isn’t crashing. It’s just shifting. If you’re buying, now is the time to do the prep work. If you’re selling, you need to stand out. And if you’re renewing, timing your move could make a big difference.
Looking ahead, the BoC is likely going to stay in this holding pattern unless something big changes. Inflation would need to drop more consistently—or something external (like more trade restrictions or a market event) would have to push them to act.
That means we need to stay nimble. Don’t bet everything on rates dropping or climbing. Build a plan that’s flexible.
For those of you planning to buy this year—especially first-time home buyers—I’ve put together a complete course that walks you through everything step-by-step.
First Time Home Buyers Course – Get Started Here
No jargon, no pressure. Just clear, actionable info to get you mortgage-ready.
Here’s what I recommend if you’re feeling stuck:
If You’re Buying:
If You’re Renewing:
If You’re Investing:
The Bank of Canada might be hitting pause, but you don’t have to. Whether you’re waiting to buy, planning a refinance, or just trying to make the right call—this is the time to get clear on your plan.
Want help building a mortgage strategy that works for today’s market?
Book a 15-minute Consultation with Me
And if you’re just getting started, check out my free resource made just for you:
First Time Home Buyers Course
Have thoughts on the rate hold? Drop a comment under the video and let’s talk about where you think we’re headed:
Watch the Full Rate Breakdown Video
Let’s stay ahead of the curve—together.
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