What the BoC's next decision means for the mortgage market

The Bank of Canada is expected to hold its overnight rate at 2.25%, marking a seventh consecutive hold. One-third of Canadian mortgage holders face higher payments at renewal, with increases averaging 20%, especially for those with five-year fixed rates from the pandemic period. Mortgage delinquencies rose significantly, notably in Ontario. Some banks predict rate hikes later in 2026, affecting variable-rate risks. Trade tensions and economic factors may influence future policy.