Bank of Canada Paused… But Fixed Rates Are on the Move?

What the Latest Bank of Canada Update Means for you — and your Cashflow

The Bank of Canada held its key interest rate steady again this month — and while that may sound like a “non-update,” it actually carries some important implications for homeowners, buyers, and REALTORS® alike.

Let’s break it down.

No Change to Prime = Stability for Variable-Rate Mortgages

If your clients are in a variable-rate mortgage, this hold means no changes to their overall cost of borrowing, interest rate, or monthly payments. It's a welcome dose of predictability in a market that’s seen its fair share of fluctuation.

However, fixed rates are telling a different story.

Fixed Rates Are Rising some places — Here’s Why That Matters

Over the past week, we’ve seen a few lenders raise their fixed mortgage rates, and just last night I received several updates indicating more increases are expected in the coming days. Let's see

While variable rates follow the Bank of Canada, fixed rates are based on the bond market, which reacts more frequently to shifts in economic outlook, inflation, and global trends. That means even when the BoC holds steady, fixed rates can — and often do — rise or fall daily.

Cashflow Is King Right Now

Many homeowners are feeling the pinch of higher payments or struggling to manage debt. What they may not realize is that there are ways to improve their financial situation mid-term — without borrowing more and without waiting for their mortgage to come up for renewal.

We’re seeing more and more clients exploring early renewals or refinances to reduce monthly obligations and improve long-term cashflow. And in today’s market, that flexibility can be the difference between feeling stuck and moving forward with confidence.

Real Examples of Cashflow Wins

Here are two recent client situations that show the power of restructuring — even when it means breaking a mortgage early.

Client Story #1: Paying a Penalty to Pay Less

Amanda and Busy had over 3 years left on their 5.95% mortgage and were also carrying a $28,000 line of credit. Their goal was to upgrade from a condo to a townhome for their growing family — but high monthly payments and debt were making it feel impossible.

We moved their mortgage to a new lender offering 3.99%, used a cashback feature to help cover the penalty, and rolled the line of credit into the new mortgage.

The results:

• Lower monthly payments

• One simplified payment instead of two

• A financially realistic path to upsizing

This solution didn’t just lower their costs — it unlocked their next chapter.

Client Story #2: Rewriting the Debt Story

Ross and Rachel (names changed for privacy) were managing $45,000 in consumer debt and a mortgage at 5.39%. Between credit cards, car payments, and their mortgage, they were overwhelmed.

Here’s what we did:

• Broke the mortgage (penalty: ~$7,800)

• Switched to a 4.44% cashback mortgage (covering legal and appraisal fees)

• Rolled all their consumer debt into the new mortgage

The results:

• $1,200/month in savings

• One easy-to-manage mortgage payment

• Relief from constant financial stress

  
  

Why This Matters to You

When clients feel financially stuck, they delay buying, selling, or even talking about their next move. But with the right strategy, we can reduce pressure, improve their cashflow, and get them back on track with their bigger goals. If you are looking to sell you are going to want some great buyers pre-approved and ready to go! Reminder pre-approval is always the first step.

Ready to take your next step into homeownership or have rate questions? Send me a note we can start the process today!

A Bonus for Your Referrals

When you introduce a client to me by email and they book a call, you're automatically entered to win $2,500 toward your mortgage through my monthly Win Your Mortgage Payment giveaway.

No strings — just a thank-you for trusting me with your clients and helping more people move forward with smart mortgage advice.

If you’re working with clients who feel stuck, overwhelmed, or unsure if a move-up is even possible — let’s talk. I’d love to support the conversation and explore what’s possible.

Ready to chat about your goals?Visit www.emilycallme.com

Emily MiszkMortgage BrokerBRX MortgageFSRA #13463