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Better Mortgage Select Presents: Breaking Interest Rate News - Brought to you by Daniel Patton, Michael Zanzini, Lorenzo Podda, and our President, Dave Butler.
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This morning, the Bank of Canada announced that it will hold its key lending rate, keeping the Bank’s prime rate unchanged at 4.95%. This marks the second consecutive pause following a series of seven rate cuts between June 2024 and March 2025.
Today’s decision appears to be driven by a combination of persistent core inflation, which remains above 3%, and stronger-than-expected Q1 GDP growth. While headline inflation recently dipped below 2%, that drop is largely attributable to the temporary removal of the carbon tax, not broader disinflation across the economy. On the GDP side, a closer look at the data suggests that much of the growth was likely front-loaded due to businesses stockpiling ahead of tariff changes, rather than a signal of sustained economic momentum. By holding the line, the Bank of Canada is signaling a data-dependent stance, choosing to closely watch how inflation and employment evolve over the next two months before deciding what to do at the next policy meeting in eights week on Wednesday, July 30.
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Key Economic Data to Watch Before the Next Bank of Canada Interest Rate Meeting
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These two sets of CPI and employment data will give the Bank of Canada critical insight into whether the economy is cooling enough to warrant further rate cuts — or if inflation pressures continue to linger, setting up a VERY IMPORTANT interest rate meeting late next month.
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Our Outlook: Are More Rate Cuts Still Coming?
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While the bank has chosen to pause for now, we believe there’s a strong case for some rate cuts in the second half of 2025. Here’s why:
- Mortgage delinquencies are on the rise, suggesting that households are still under pressure.
- The Q1 GDP surge may be misleading, and signs point to slower economic activity in the quarters ahead.
- With core inflation remaining sticky but trending downward, the bank could regain confidence to lower rates again — gradually.
If the data unfolds as expected, we believe there's a real possibility of two or three more 0.25% rate cuts over the next 6 to 12 months, offering relief for Canadians.
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We’ll continue to keep you ahead of the curve, delivering fast, accurate analysis so you’re always in the know — before the headlines even hit.
Have questions? Want to chat? Looking to do some planning? We are only an email away at info@bmselect.ca
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If you took on a new fixed-rate mortgage between fall 2022 and summer 2024, you're juggling higher debt loads, or simply feeling the pressure of rising monthly costs — you're not alone. Over the past couple of years, refinancing wasn’t always a smart move. Rates were high, and uncertainty was everywhere. But now?
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Interest rates have normalized — and refinancing is back on the table in a BIG way.
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Back in the 2000s and 2010s, refinancing became a go-to strategy for Canadians emerging from the high-rate era of the '80s and '90s. With rates falling, thousands of homeowners restructured their debt, rolled in high-interest loans, and completely transformed their financial outlooks. We’re now seeing the same thing happen again in 2025. But don’t just take it from us — here’s what real clients are saying after refinancing through Better Mortgage Select this year:
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“Game changer! Completing this refinance through your office has flipped my monthly budget from a small shortfall to having an extra $700 each month. I can finally start saving again, like I used to before COVID.”
“Thank you, Daniel and BM Select! My wife and I live on a pension, and everything just costs more these days. We kept turning to lines of credit and credit cards to get by. This refinance brought our monthly budget back in line — and our peace of mind with it.”
“I can’t say enough about you guys. You advised me to take a 1-year fixed last year and hold off for lower rates — and now my refinance is done, the credit card debt is gone, and I don’t have to think about a mortgage renewal until 2030. Huge thanks to Mike, Marko, and Amanda.”
These are just a few of the wonderful reviews we've received from our valued clients. Click here to head on over to our Google page, and discover why Better Mortgage Select is a 5-star favorite among our clients!
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Don’t let the banks or credit card companies stay one step ahead.
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If there's a way to save you money — we’ll find it.
No tricks. No gimmicks. Just straight math.
Click here to see how we unlock the savings, OR WATCH our very own Daniel Patton explain how it works:
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Wednesday, June 11 at 6:30 PM EST
We are exactly one week away! That’s right, next Wednesday, June 11th at 6:30pm EST we will be hosting our third webinar of the year! We'll have had a full week to digest the Bank of Canada’s announcement, and we’ll discuss how we think this is going to impact the rest of the year in the real estate and mortgage world.
Join us for expert insights into real estate and mortgage trends, and actionable strategies for the remainder of 2025.
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Just a friendly reminder to come visit us on our socials, where we put out a ton of videos with tips and information to help you navigate the wild world of mortgages! Check out the links below and give us a follow! | |
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As always, if you have any questions or want to do some mortgage planning, feel free to reach out to us at: | |
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