Understanding the impact of the Bank of Canada’s interest rate changes on your mortgage.Every few months, the Bank of Canada (BoC) announces an interest rate hold, cut or raise, depending on the current and anticipated future economic conditions. But while these announcements get a lot of buzz, what exactly is the impact, if any, on your mortgage as a homeowner? And if you’re thinking of buying a home, will they affect the amount you end up paying at the end of the month?
