Marlon Parel Mortgage Expert

BoC holds rate at 2.25% as inflation stays near target, employment strengthens, and GDP growth exceeds expectations.

Strong labour gains and robust GDP raise talk of a possible future hike, despite the Bank signalling its easing cycle has ended.

Bank expects weak Q4 GDP due to export declines but sees 2026 pickup; next interest rate meeting is January 28, 2026.

BoC Holds Rate at 2.25%

Portable mortgages let homeowners transfer an existing low-rate loan to a newly purchased property.

When upgrading to a pricier home, borrowers must cover cost differences with cash or higher-rate loans.

The U.S. lacks portable mortgages due to long loan terms and reliance on mortgage-backed securities.

Portability works abroad because shorter mortgage terms reduce risk of decades-long interest-rate commitments.

While helpful for current owners, portable mortgages may raise home prices and offer minimal benefit to newcomers.