The article explains how mortgage rates respond to Bank of Canada decisions, with the next announcement scheduled for October 28. Variable mortgages generally track changes in lenders' prime rates, while fixed rates are shaped more by Government of Canada bond yields, lender funding costs and competition. Borrowers and renewers are advised to understand how their variable payments adjust, test payments under different rate scenarios, and review terms such as prepayment penalties before deciding. The article also cites CREB's September 2026 data showing Airdrie at about four months of housing supply and a total residential benchmark price of $505,800, nearly four per cent below September 2025.
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