When the Bank of Canada holds its policy rate, headlines call it a pause — but for anyone renewing a mortgage this year, a hold is a planning signal, not a break.
Fixed versus variable in a hold
A hold tends to steady variable rates in the near term, while fixed rates take their cue from the bond market, which can move well before the Bank does.
- Check when your term actually resets, not just the renewal letter date.
- Compare the effective rate after fees, not the posted headline.
- Ask what breaks and portability look like before you sign.
The quiet advantage of a hold is time. Use it to shop the renewal properly rather than accepting the first offer.
