Derrick Kapitan | Mortgage Agent

📊 From 0.25% to 5.00% — and Now 2.50%. What a Decade!

Over the past 10 years, the Bank of Canada’s overnight interest rate has taken Canadian homeowners on quite a journey.

📉 2020–2021: Historically low rates of 0.25% during the pandemic.

📈 2022–2023: Rapid increases, reaching 5.00% in 2023.

📉 2024–2025: A period of declining interest rates.

📈 October 28, 2026: The Bank of Canada raises its overnight rate to 2.50%.

But here’s the question:

When interest rates change, does your mortgage payment automatically change too?

The answer might surprise you.

This week, we’re exploring adjustable-rate versus fixed-payment variable-rate mortgages, monthly payments, amortization and the impact of changing property values.

Because understanding your mortgage means looking beyond the interest rate.

💬 Question: If you have a variable-rate mortgage, do you know whether your payment adjusts when rates change?

Sharing Knowledge. Sharing Life Experiences. Continuous Learning.

Derrick Kapitan
Mortgage Agent Level 1
Lic. M24003293
The Mortgage Coach | FSRA 13120
647.219.4743
[email protected]

#MortgageEducation #BankOfCanada #Homeownership #VariableRateMortgage #themortgagecoach