Interest Rates Just Changed: What Kawartha Lakes Buyers and Sellers Should Review

An interest-rate announcement can leave you wondering whether your moving plans still make sense. Before changing those plans, start with a closer look at your own numbers.

On October 28, 2026, the Bank of Canada raised its policy rate by 0.25 percentage points to 2.50%. That is the central bank’s policy rate, not the mortgage rate offered to an individual borrower.

What Should Buyers Do Next?

Ask your mortgage professional to confirm your current qualification, estimated payment and any rate-hold expiry. If you already have a pre-approval, check whether anything needs updating before making an offer.

Build a budget around the property you are actually considering. Along with the mortgage, include property taxes, insurance, utilities and a maintenance allowance. For a rural property, ask about costs such as well and septic maintenance. A comfortable purchase leaves room for ordinary life after closing.

Will Your Existing Mortgage Payment Change?

That depends on your mortgage. A fixed mortgage rate stays unchanged during its existing term. Variable-rate mortgages can work differently: some have payments that adjust, while others keep payments fixed and change how much goes toward principal and interest. Your lender can explain what applies to your contract. 

What Should Sellers Consider?

Review the homes competing directly with yours and the recent sales most relevant to your property. Buyers will be considering both the purchase price and the cost of carrying the home. Clear information about taxes, heating and recent improvements can help them assess the fit.

A rate announcement alone cannot tell us what your home will sell for, or whether next month will be a better time to move. Your property, competition, finances and timing all belong in that conversation.

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If you are planning a move in Lindsay, Fenelon Falls or elsewhere in Kawartha Lakes, let’s review the real estate side of your plans alongside updated financing information.

Contact Jami Joy and TeamJoy at TeamJoy.ca. Let’s have a conversation.