See what a rate change would do to your mortgage payment. The tool below uses the October 28, 2026 Bank of Canada increase — from 2.25% to 2.50%, the first increase since 2023 — as its starting example.
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Common questions
Does a Bank of Canada hike change my fixed-rate payment?
No. Fixed payments stay until renewal, but renewal offers move with bond yields.
I have a variable rate — when does my payment change?
With most lenders, variable payments adjust with prime, typically within days of a Bank of Canada move. Some lenders keep the payment and change the amortization instead.
How much does 0.25% add to a $500,000 mortgage?
About $68 a month on a 25-year amortization, as an illustration at about 4%.
Should I lock in my variable rate now?
It depends on your rate, your remaining term, and your risk comfort. That is a 10-minute conversation — book a call.
Prefer to talk? Call Travis Bannert at 780-720-8240.