Current Market Snapshot

Bank of Canada Overnight Rate: 2.50 (as of September 17, 2025)

Prime Rate: 4.70%

Typical 5-Year Fixed Rate (insured): 3.99%

Typical Variable Rate (broker channel): 3.90% (Prime -.80%)

Note: These are general market benchmarks. Your personal rate will depend on factors like credit, income, down payment, and property type.

What This Means for Borrowers

The latest movement in rates has created opportunities for some homeowners and buyers:

Fixed rates may adjust in response to changes in bond yields.

Variable rates tend to follow the Bank of Canada’s overnight rate more closely.

Renewals, refinances, and new purchases should all be reviewed with a licensed professional to ensure the best available options.

Tips to Consider

1. Start Early – If your mortgage is coming up for renewal within the next 6 months, it’s a great time to explore options.

2. Understand Terms, Not Just Rates – Prepayment privileges, penalties, and portability are just as important as the interest rate.

3. Stay Informed – Economic data, inflation, and Bank of Canada announcements all influence mortgage rates.

Final Thoughts

Rates continue to shift as the market responds to economic conditions. The right choice depends on your goals and comfort with risk. If you have questions about what today’s market means for you, I’d be happy to review your situation and help you explore your options.

📞 Sarah Beuk – Licensed Mortgage Agent Level 2
🏢 Dominion Lending Centres Edge Financial
📧 sarah@synergymortgages.com | 📱 416-580-1805
FSRA Lic. # 10710 | Agent License # M09002428