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Bank of Canada Says More Rate Hikes Could Be Coming: What It Means for Your Mortgage and HELOC

  Canadian Money Brief  |  November 11, 2026 Bank of Canada Says More Rate Hikes Could Be Coming: What It Means for Your Mortgage and HELOC By the MoneySavings.ca team  •  6 min read The Bank of Canada raised its key rate on October 28, the first increase since 2023. Yesterday it signalled it may not be done. The summary of deliberations, released Tuesday, says Governing Council agreed there could be a need to raise the policy rate further, while taking decisions one meeting at a time. If you carry a variable-rate mortgage or a home equity line of credit (HELOC), that is a headline worth a few minutes. Here is what the Bank said, what another hike would cost, and what you can do before the next decision on December 9 . 2.50% Policy rate since Oct 28 4.70% Big-bank prime since Oct 29 3.5% BoC CPI forecast, end of 2026 Dec 9 Next rate decision What the Bank actually said The core of the story is energy. The Bank notes that the war in the Middle East is in its eig...
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Safeguarding Your Wealth in a Rising Interest Rate Market


Protect your money

Diversify Your Investments

As interest rates begin to rise, safeguarding your wealth becomes a crucial priority. One effective strategy is to diversify your investments. Relying solely on low-yielding assets may leave your portfolio vulnerable to the impact of increasing interest rates. Instead, consider a balanced approach by spreading your investments across various asset classes, such as stocks, bonds, real estate, and commodities. Diversification helps reduce risk by minimizing the impact of interest rate fluctuations on any single asset. Stocks tend to perform well in a growing economy, which can counteract the adverse effects of rising interest rates on fixed-income investments like bonds. Additionally, allocating a portion of your portfolio to tangible assets like real estate and commodities can act as a hedge against inflation, which often accompanies higher interest rates. Diversification not only safeguards your wealth but also positions your investments to capitalize on market opportunities in a changing interest rate environment.


Refinance Wisely: Safeguarding Your Wealth in Rising Interest Rates

In a rising interest rate environment, refinancing your loans can be a powerful tool to safeguard your wealth. When interest rates climb, borrowing costs increase, which can burden existing loans with higher monthly payments. However, by refinancing strategically, you can take advantage of lower rates and reduce your debt burden. Start by assessing your current loans, such as mortgages, personal loans, or student loans, and compare them to prevailing interest rates. If you find that interest rates have risen significantly, consider refinancing to lock in lower rates before they climb further. Mortgage refinancing, in particular, can yield substantial savings over the long term. By securing a lower interest rate, you not only lower your monthly payments but also potentially shorten the term of the loan, enabling you to build equity faster. Refinancing wisely can free up more disposable income, allowing you to allocate funds to other investments or savings, ultimately protecting and growing your wealth despite the challenging interest rate environment.

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