Mortgage intelligence
Bank of Canada Interest Rate
The Bank of Canada's target for the overnight rate, its policy rate, is 2.50% (Nov 11, 2026).
Built on official Canadian sourcesUpdated 2026-11-12
How it reaches mortgages
Prime (4.70%) follows the policy rate, so variable rates move with it. Fixed rates follow bond yields instead; the 5-year yield is 3.46% (Nov 10, 2026).
Rate announcements
The Bank announces its rate on eight scheduled dates a year. We update this page from the Bank's data after each change.
Sources
Informational only, not financial advice. Data as of the release snapshot generated 2026-11-12.