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If you’ve been waiting to see where mortgage rates are heading in 2026, here’s your update. The Bank of Canada just held its overnight rate steady again in December, keeping it at 2.25%. For anyone in British Columbia thinking of buying, renewing, refinancing, or selling this year, this stability could be a big opportunity. Let’s walk through what this means for you and how to take advantage of it, no matter where you are in your homeownership journey. What’s a Rate Hold and

Most People Auto-Renew Without Question You receive a letter from your lender. Your mortgage term is coming to an end, and they’re offering a new rate and a new term. It feels straightforward, familiar, and safe. So you sign it. You send it back. And just like that, you’ve locked yourself in for another five years. But here’s what most people don’t realize: that quick, routine decision can cost you thousands of dollars—not only in extra interest, but in missed opportunities.

When I sat down with Mark and Elena last month, they told me they were worried: “We’re far from selling, but interest rates are making our payments tight.” Instead of focusing purely on buying or selling, I turned their attention to something they already had: home equity . It changed their mindset — and it can help you too. What is home equity, and why it matters Your home equity  is simply the difference between what your home is worth today and what you still owe on the mo