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BoC Opens the Door to Rate Hikes: What It Means for Your Mortgage

  Published September 4, 2026 The Bank of Canada held its policy rate at 2.25% on September 2 — the seventh straight hold — but Governor Tiff Macklem didn't sound like a central banker done for the year. He told reporters the Bank is "prepared to raise interest rates, and if it takes more than one increase, we're prepared to do that," if inflation stays too high. That's a real shift in tone, and it lands right as a wave of Canadians hit their mortgage renewal date. Here's what changed, who's forecasting what, and what it actually means for your payment. Why the Bank Suddenly Sounds Hawkish Canada's annual inflation rate has climbed to around 3% — a full point above the Bank's 2% target — and the Bank is pointing squarely at energy prices. Oil has stayed elevated because of the Iran conflict and disruption near the Strait of Hormuz, pushing gas prices up and dragging headline CPI with it. Core inflation, which strips out food and energy, is still s...
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Stock Market Today : October 3, 2023


 The Canadian stock market continued its downward trend today. As represented by the S&P/TSX Composite Index, closed at 19,020.92 on October 3, 2023, down by 0.81% from the previous day’s close. The S&P/TSX 60 Index also fell by 0.83% to close at 1,141.80. The S&P/TSX Venture Composite index decreased by 1.68% to close at 536.26. The top gainers on the TSX were Cameco Corporation, Canadian Natural Resources Limited, and Barrick Gold Corporation, while the top losers were Baytex Energy Corp., Algonquin Power & Utilities Corp., and Enbridge Inc. 

In the US, the Dow Jones Industrial Average (DJIA) closed at 35,258.32, up by 0.10% from the previous day’s close . The S&P 500 index closed at 4,543.76, up by 0.15% from the previous day’s close. The NASDAQ Composite index closed at 15,235.89, up by 0.31% from the previous day’s close. The top gainers on the DJIA were Boeing Co., Goldman Sachs Group Inc., and JPMorgan Chase & Co., while the top losers were Apple Inc., Microsoft Corp., and Visa Inc. .

The reason the markets were down today, is due to the fact  that the 10-year Treasury yield climbed again on October 3, 2023, up to 4.80% from 4.69% late Monday and from just 0.50% early in the pandemic. This increase in yield came after a report showed U.S. employers have many more job openings than expected. Another reason is that there is ongoing debt ceiling drama that is slowly eroding confidence in the country. However, it is important to note that there could be other factors contributing to this decline as well.



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