The Bank of Canada is holding the interest rate at 2.25%, here’s what that means for the housing market - NOW Toronto

The Bank of Canada is holding the interest rate at 2.25%, here’s what that means for the housing market - NOW Toronto

What to know Holding the rate at 2.25 per cent means variable mortgage holders and lines of credit won’t see significant changes for now. Experts say homeowners nearing renewal should consider locking in early, as rising bond yields could push fixed rates higher. Many prospective homeowners are choosing fixed-rate mortgages over variable options to avoid uncertainty. Keeping rates steady isn’t expected to boost activity significantly, with many…