Vancouver (September 2, 2026) – The Canadian Mortgage Brokers Association of British Columbia (CMBA-BC) remains concerned about the Bank of Canada’s decision to hold its key interest rate at 2.25% for a seventh consecutive announcement. Although the organization understands that the Bank is weighing renewed trade tensions with the United States against inflation that has yet to return to target, the CMBA-BC reiterates that a rate hold remains a continuing barrier to homeownership in British Columbia.
“For the seventh consecutive announcement, the Bank of Canada has held its key interest rate steady, which does not provide any relief from the borrowing costs affecting homebuyers in our province,” stated Tricia McIntosh, President of CMBA-BC. “It has now been ten months since the Bank last lowered rates. Given the affordability concerns facing many British Columbians, a rate hold at 2.25% does not signal the stability nor the economic conditions first-time homebuyers need to enter the market.”
CMBA-BC argues that another rate hold only reinforces the uncertainty that is keeping potential homebuyers on the sidelines, and that even a modest rate cut would help restore confidence and bring the government closer to reaching its objectives within the Canadian housing market.
“Lower Interest rates would provide meaningful relief for Canadians looking to enter the housing market,” McIntosh continued. “We understand that caution is required in the current trade environment, but affordability remains a significant challenge for British Columbians. To meet the development and housing targets in our province, we need economic conditions that give people greater confidence in their ability to purchase a home.”
Despite ongoing economic uncertainty, CMBA-BC will continue to advance practical solutions and work with all partners to alleviate financial pressure on borrowers and ensure more British Columbians achieve homeownership.
