Bank of Canada Rate Hike: Should You Worry?

Vaughan real estate broker Raj Bajwa beside a graphic reading plus $13 a month per $100,000 of variable mortgage after the October 2026 Bank of Canada rate hike

The Bank of Canada raised its rate to 2.50% on October 28, 2026. Should you worry? For a variable mortgage, it’s about $13 a month per $100,000. Fixed rates don’t change until renewal. Here’s why rates went up and what it means for Vaughan homeowners and buyers.