The Bank of Canada held mortgage rates steady on December 10th. After two rate cuts this fall, they’re pausing to see how inflation and tariff noise play out. That means they’re keeping it stable for now.

Keep reading or watch my video for more details:

What the Bank of Canada Rate Hold Means for your Mortgage

The Bank of Canada rate directly impacts variable and adjustable mortgages. A hold keeps those payments steady for the moment. Fixed rates are driven more by bond yields, which can still move on economic headlines.

Fixed vs. Variable: What Actually Changes

If you’re in a fixed rate, nothing changes today. Variable or adjustable borrowers see no payment change either, but lenders can still reprice fixed terms if bond yields move. The spread between fixed and variable remains the key trade-off: payment certainty vs. potential savings.

Why a Pre-Approval and Rate Hold Are Still Essential

A proper pre-approval (documents reviewed, credit pulled) plus a 120-day rate hold gives you price certainty while we wait for the next Bank of Canada move. If rates drop, we will try to float you down. If they rise, you’re protected.

Edmonton demand is still strong, and clean offers have been winning. Get fully underwritten before you look for a home, and if you’re up for renewal in the next few months, I recommend you secure terms now and adjust if pricing improves.

Whether you are preparing to buy your first home or your fifth, if you’re looking to get pre-approved for a mortgage in Edmonton, fill out my online application. I’m here to help you every step of the way.

About Jason Scott, Edmonton Mortgage Broker

Looking for a personalized mortgage solution? As an Edmonton Mortgage Associate, I’m trusted partner who will help you get the right mortgage for your home or investment property. I’m Jason Scott, and I’ll be your Mortgage Broker in Edmonton.