# BoC Rate Date - September 2, 2026 ![Sep 2](https://d2r7yk1mqahd04.cloudfront.net/images/Sep-2.png) ### September 2, 2026 # Bank of Canada holds the phone. [Email link](https://mailchi.mp/ac0ac72c7e12/sep-2026-rate-pause-5386451?e=5beef5bcd8) - [DECISION · **HOLD** · 7th in a row](https://www.truenorthmortgage.ca/blog/mortgage-rate-forecast) - [BOC RATE · **2.25%** · No Change](https://www.truenorthmortgage.ca/blog/mortgage-rate-forecast) - [BANK PRIME · **4.45%** · No Change](https://www.truenorthmortgage.ca/blog/prime-rate-mortgages-explained) - [NEXT DATE · **OCT 28** · 2026](https://www.truenorthmortgage.ca/blog/mortgage-rate-forecast) ## Hello, hello? Are you still there? U.S. trade war suspends rate forecasts mid-call. Well, that's annoying. Just when Canada's economy seems to be [recovering](https://www.truenorthmortgage.ca/blog/mortgage-rate-forecast) from Trump's 2025 tariff bonanza, his team levies a new round this August 2026. Canada is [elbows-up](https://www.truenorthmortgage.ca/blog/trump-tariff-threat-mortgage) once again, with counter-tariffs starting on September 8 and 'Buy Canada' sentiment back in full force. Will Canada's economy suffer? Will groceries go even higher? The effect on growth and inflation this time around still remains unknown, especially amid higher energy prices due to the ongoing U.S.-Iran conflict. The Canadian economy has proven resilient so far, though some sectors have been (and are likely still to be) hit harder. Tired of the word 'uncertainty'? Let's go with **mortgage rate limbo** (cue the limbo stick). - [VARIABLE RATES · **Lender discounts stable** · No Change](https://www.truenorthmortgage.ca/rates) - [FIXED RATES · **Near cycle highs** · Stable or trending up](https://www.truenorthmortgage.ca/rates) ## 'Limbo' doesn't mean rates will go lower this year. Even if growth forecasts are revised downward, which gets more likely the longer the trade war continues, there's too much inflation static on the line to drop rates to support the economy. - Oil prices are still hitting above $90/barrel as the Iran conflict seems stuck on repeat - Government debt levels (the U.S. and Japan have the largest, though Canada federal + provincial debt is no slouch) are threatening [global bond markets](https://www.wsj.com/finance/investing/bond-yields-around-the-world-soar-in-challenge-to-government-borrowing-c519c53f) and raising borrowing costs - Tarriflation is back on the conference call (higher grocery prices are last year's result), though the BoC [doesn't seem](https://www.bankofcanada.ca/2026/09/fad-press-release-2026-09-02/) too troubled Sure, Canada hit a 3.3% annualized growth pace in Q2 of 2026, the fastest expansion since 2023. But also true is that most experts didn't expect this pace to continue *before* Canada hung up on recent trade talks. --- ### What's the BoC record for remaining on hold? See our Mortgage Rate Forecast for other fun facts. We jest. Economics aren't a crystal ball of laughs these days, and tbh, we're hoping the rate-hold music continues for now (it's better than a hike). ### Read our Forecast blog → ### National housing market is finally recovering, but most forecasts have been lowered for 2026. More buyers are buying less inventory. Things are slowly heating up (not you, condo markets) — how long could home-price stabilization last? ### Our Housing Market blog → --- **[HOLD YOUR HORSES, YOUR BEST RATE IS HERE](https://www.truenorthmortgage.ca/rates)** **[SEE YOUR SAVINGS – COMPARE & SAVE CALCULATOR](https://www.truenorthmortgage.ca/tools/savings-calculator)** --- ### Higher bond yields and fixed rates are fueled by coalescing inflation risks. Fixed mortgage rates track the Canada 5-year bond yield, which remains elevated as global inflation pressures build. Will the bond market blow up? Here's how to watch the trend ### [Read the blog →](https://www.truenorthmortgage.ca/blog/how-government-bond-yields-relate-to-mortgage-rates) ### Choosing variable-rate savings is more popular, far outpacing fixed rates. A 5-year variable rate is about 0.65% lower than a 5-year fixed — offering a lot more mortgage budget room. But can you stomach the risk if rates rise? We break it down to help you decide. ### [Read the blog →](https://www.truenorthmortgage.ca/blog/should-you-choose-a-variable-or-fixed-rate) --- ## Renewing soon? [Calculate payments here](https://www.truenorthmortgage.ca/tools/renewal-calculator) ## Looking to refinance? [Apply now](https://apply.truenorthmortgage.ca/apply-online/start) --- ## Hold on, here's more - [Trump's tariffs are back, and so is rate uncertainty](https://www.truenorthmortgage.ca/blog/trump-tariff-threat-mortgage) - [Need more mortgage time? Compare 40-year product](https://www.truenorthmortgage.ca/blog/extended-amortizations) - [The dreaded mortgage penalty? It lowers your rate](https://www.truenorthmortgage.ca/blog/mortgage-penalty-lowers-rates) - [For over 20 years, here's the secret behind our better rates](https://www.truenorthmortgage.ca/blog/celebrating-our-20th-anniversary) - [Want to use crypto towards a down payment? Here's how](https://www.truenorthmortgage.ca/blog/crypto-mortgage-down-payment) / /