What the BoC’s next decision means for the mortgage market

The Bank of Canada is set to hold its overnight rate steady at 2.25%, a move that will have real consequences for many mortgage holders. With one-third of borrowers now facing renewal payments that are 20% higher, it’s no surprise we’re seeing a rise in mortgage delinquencies—Ontario in particular has been impacted. While rate hikes may be pushed out to 2026, these shifts highlight just how important it is to approach renewals with a clear strategy. My focus has always been on helping clients navigate changes like these with transparency and thoughtful planning, so you can feel confident in your mortgage decisions—no matter what the market brings.