The Bank of Canada’s December 11 announcement could bring significant changes to borrowing costs. If rates stay the same, variable-rate mortgage holders won’t see any immediate changes, and fixed rates might remain steady. 💸 A rate cut could lower costs across the board, while a hike would make borrowing more expensive for everyone.

🔍 What Should You Do?

• For variable-rate mortgages: Monitor closely and think about locking into a fixed rate if stability is important to you.
• For fixed-rate mortgages: If there’s a reduction in fixed rates, consider locking in early, as rates may shift after the announcement. Securing a favorable rate now could benefit you long-term.

📊 As a mortgage expert, I’m here to help you navigate these changes and find the best strategy for your situation. Let’s connect to explore your options!