Quick Update: Why the Economy Dipped and What It Means for Your Mortgage
At TopRankinMortgages, we know that economic news can sound confusing. Our goal is to make it simple so you can make the best choices for your home. The News: A “Bumpy” October A new report shows that Canada’s economy shrank by 0.3% in October. This was the biggest drop we’ve seen in nearly three years, […]
Bank of Canada Holds Rates: What This Means for Homeowners Heading Into 2026
The Bank of Canada kept its overnight rate unchanged on December 10, holding steady after back-to-back cuts earlier this fall. For homeowners, buyers, and anyone renewing in the next year, this pause brings a moment of stability in a market that’s seen a lot of movement. Why the Bank Paused The Bank noted that the […]
Fixed Rates May Be on the Rise: What the Bank of Canada’s Final 2025 Decision Means for Homeowners
As the Bank of Canada prepares for its final interest rate announcement of the year next week, most experts agree we’re headed for a rate hold. The overnight lending rate is expected to remain at 2.25%, signalling the end of the Bank’s cutting cycle for now. But while variable rates may remain stable, new pressure […]
Mortgage Renewals Are Coming: What Canadian Homeowners Need to Know Heading Into 2026
More than 20% of Canadian mortgage holders are set to renew their mortgage within the next 12 months, according to Mortgage Professionals Canada. For many, that means coming out of the ultra-low rates secured during the pandemic — and stepping into a very different rate environment. The good news?With the Bank of Canada lowering its […]
2.2% Inflation. Big Deal? Yes. Here’s Why.
Good news Canada finally caught a break. Inflation slowed to 2.2 percent in October, mostly because gas prices fell hard. Before your eyes glaze over, here’s why this actually matters for your wallet, your rent, and your next mortgage rate. Let’s break it down like a normal human would. 1. Gas Prices Fell… A Lot. […]
Canada’s Latest Rate Cut: What You Need to Know
What changed: On September 17, 2025, the Bank of Canada lowered its policy interest rate by 25 basis points, from 2.75% to 2.50%. This is the first rate cut in six months and brings the rate to its lowest in three years. Why they did it: The job market has weakened significantly, with over 100,000 […]
Inflation Drops: What It Means
Canada’s inflation rate cooled to 1.7% in July, thanks mostly to lower gas prices. This is good news because when inflation goes down, the Bank of Canada is more likely to lower interest rates. Right now, markets are watching closely — there’s about a 40% chance of a rate cut in September. If that happens, […]
Canada’s Housing Market: Back to (a New) Normal
After a few chaotic years, Canada’s housing market is starting to feel… normal again. But not the post-pandemic crazy—we’re talking pre-COVID normal. And that’s a good thing. 🔁 More Homes, More Balance We’re seeing more listings and more time for buyers to make decisions. No more 12-offer panic. It’s not perfect, but it’s more balanced. […]
Will the Middle East Conflict Impact Mortgage Rates in Canada?
With tensions escalating between Israel and Iran, many Canadians are asking: Could this impact mortgage rates at home? What We Know So Far: Oil prices are up 27% this month. Rising oil often leads to higher inflation. Inflation pressures can push interest rates up — or at least keep them from falling. A Look at […]
Will Rates Drop Anytime Soon? Not Likely, Says Bank of Canada Governor
Thinking a rate cut is around the corner? Don’t hold your breath. Bank of Canada Governor Tiff Macklem just delivered a reality check. Speaking from St. John’s, Newfoundland, Macklem emphasized that inflation is still too hot for comfort—and until it cools, rate cuts aren’t even on the table. 🔍 What’s Going On? Despite some economic […]
