# BoC Rate Date - July 30, 2025 ![July30](https://d2r7yk1mqahd04.cloudfront.net/images/July30.png) ### July 30, 2025 # Ruffled feathers, but still no rate moves. [Email link](https://mailchi.mp/truenorthmortgage/boc-rate-pause-jul-2025) **July 30, 2025 –** The Bank of Canada holds its benchmark rate at 2.75% (3rd time in a row), keeping most banks' prime rates steady at 4.95%. Plenty of Canadians are unimpressed with this summer's rate pause — still hoping for interest rates to go lower, taking the pressure off the over 1M upcoming mortgage [renewals](https://www.truenorthmortgage.ca/mortgage-solutions/renewals-transfers) and everyday livin' in the land of tariffs. **How does today's pause impact your mortgage rate?** - Variable-rate mortgage [payments](https://www.truenorthmortgage.ca/tools/renewal-calculator) for homeowners don't change - Variable-rate lender [discounts](https://www.truenorthmortgage.ca/rates) for home buyers may shrink in the near term due to economic volatility - Fixed rates have recently [increased](https://www.truenorthmortgage.ca/blog/how-government-bond-yields-relate-to-mortgage-rates) by about 0.14% due to inflationary pressures on bond yields - Fixed-rate [specials](https://www.truenorthmortgage.ca/rates) may pop up from lender competition - Ask your expert broker about [holding](https://www.truenorthmortgage.ca/blog/how-does-a-mortgage-rate-hold-work) your rate --- ## A hawk and a dove land on a roof. (*Awkward.*) #### Today's rate pause leans: Neutral (neither hawkish nor dovish). What does that mean? Economists often refer to the Bank of Canada's current mood as being **hawkish** or **dovish** in setting monetary policy: - **Hawk** = restrictive policy — Higher rates maintained, or raising rates, to fight inflation - **Dove** = supportive policy — Lowering rates to support growth and employment, usually as inflation declines For today's rate decision, BoC Governor Tiff Macklem favoured neither side, toeing the [neutral line](https://financialpost.com/news/economy/bank-of-canada-holds-interest-rate-third-time) like a bird on a wire, waiting for more [tariff](https://www.truenorthmortgage.ca/blog/how-trumps-tariffs-could-shape-mortgage-rates-in-2025) repercussions to fly into the coup: > "We will continue to assess the timing and strength of both the downward pressures on inflation from a weaker economy and the upward pressures on inflation from trade." But — the **absence of hawkish comments** today means we can cross our fingers that rates still have room to come down this Fall 2025. > **What's a neutral rate?** A Bank of Canada policy rate that neither stimulates nor slows the economy. The current [neutral range](https://www.bankofcanada.ca/publications/mpr/mpr-2025-04-16/appendix) is 2.25% to 3.25%. Time will tell whether a lower rate is needed to grow our economy. --- # As the crow flies — learn about rate moves before they happen. We flap our arms and land some hard numbers to help you see where interest and mortgage rates may be going. With 3 more rate decisions left this year, we're expecting at least one more rate cut. If the U.S. Fed cuts its rate this fall, the BoC may follow. Stay current with our **2025 Mortgage Rate Forecast** blog — updated frequently, including our CEO's insights and economists' predictions. **[RATE FORECAST (2025-2027)](https://www.truenorthmortgage.ca/blog/mortgage-rate-forecast)** --- ## Factors holding the BoC rate where it is: - A blink-first contest over how U.S. trade negotiations will play out and impact the Canadian economy - Higher prices are creeping in due to tariffs and supply disruption on both sides of the border - June's [core inflation](https://www.truenorthmortgage.ca/blog/mortgage-rate-forecast) rate remained above 3.0% (target is 2.0%) - Consumer spending has been increasing, despite tariff troubles - June's unemployment rate lowered to 6.9% from 7.0%, with over 80K new jobs (50-60K per month is 'balanced' job growth) - Higher [bond yields](https://www.truenorthmortgage.ca/blog/how-government-bond-yields-relate-to-mortgage-rates) due to trade and policy volatility, including potential for increased Canadian govt spending in the upcoming Fall 2025 budget --- ## Rule the roost with great advice. The latest industry insights to help you strut into mortgage savings with confidence. ### Low rates? When not to take the bait. Rate comparison sites dangle rates that may disappear — along with your privacy. **[DON'T BE THE FISH](https://www.truenorthmortgage.ca/blog/mortgage-rate-comparison-sites)** ### Do you really need a rate hold? Here's how it works, how it can affect your rate offer, and how it differs from a rate lock-in. **[ICE THAT RATE?](https://www.truenorthmortgage.ca/blog/how-does-a-mortgage-rate-hold-work)** ### Which rate choice is going the way of the dodo? With all these interest rate pauses due to creeping inflation — here's the most popular rate choice. **[VARIABLE OR FIXED?](https://www.truenorthmortgage.ca/blog/should-you-choose-a-variable-or-fixed-rate)** --- # Savings for your nest egg. ## We are the wind beneath your (mortgage) wings. With over 16,000 [5-star reviews](https://www.truenorthmortgage.ca/about-us/reviews), the most in this industry by far, we help our budget-savvy clients save on their rate and mortgage, term and term again. We're not [bank](https://www.truenorthmortgage.ca/blog/bank-vs-broker) reps. And unlike independent brokers, we're salaried and non-commissioned for unbiased mortgage advice and rate discounts. Our highly trained mortgage brokers put you first to help your **budget stay aloft** — and your **savings soar** — with personalized service that supports your home-owning goals. **[FIRST-TIME](https://www.truenorthmortgage.ca/mortgage-solutions/first-time-home-buyers)** | **[NEXT-TIME](https://www.truenorthmortgage.ca/mortgage-solutions/buying-your-next-home)** | **[RENEW](https://www.truenorthmortgage.ca/mortgage-solutions/renewals-transfers)** | **[REFINANCE](https://www.truenorthmortgage.ca/mortgage-solutions/refinancing-options)** ## [EASILY APPLY](https://apply.truenorthmortgage.ca) online now **OR** ## [TALK TO A BROKER](https://www.truenorthmortgage.ca/company) in your preferred language **[LAND ON OUR BETTER RATES](https://www.truenorthmortgage.ca/rates)** --- ### Advice worth chirping about: - [Looking for a trusted Halal mortgage option?](https://www.truenorthmortgage.ca/blog/halal-mortgage-financing) - [How does a 2nd mortgage work for extra funds?](https://www.truenorthmortgage.ca/blog/renewal-should-you-stay-or-switch-lenders) - [The renewal switch rate is up 46% — can you save more?](https://www.truenorthmortgage.ca/blog/renewal-should-you-stay-or-switch-lenders) - [Housing Market Forecast (2025-2027)](https://www.truenorthmortgage.ca/blog/housing-market-forecast) - [Save on your next move — use our MovingWaldo discount](https://www.truenorthmortgage.ca/blog/movingwaldo) / /