VANCOUVER (July 30, 2025) – The Canadian Mortgage Brokers Association – British Columbia (CMBA-BC) recognizes today’s decision by the Bank of Canada to maintain its policy interest rate at 2.75%. Although the organization values the Bank of Canada’s cautious approach amidst the current economic uncertainty, they believe more can be done to ease the financial pressure facing Canadians.
The CMBA-BC favours an approach that prioritizes Canadians, specifically Canadian homeowners, via a cut to the Bank’s policy interest rate. This would help ease financial pressures while incentivizing entry into the housing market.
“While we understand the Bank of Canada’s difficult position amidst the uncertainty and rising inflation in the economy, a rate hold at 2.75% does little for British Columbian mortgage holders who are uncertain about their financial future,” says Rebecca Casey, President of CMBA-BC. “With a rising number of British Columbians concerned about their financial situation, a rate cut would have been a very positive sign.”
Given that elevated borrowing costs remain a principal barrier to housing investment and entrances into the housing market, the organization would have regarded a rate cut as a significant step towards making the housing market more affordable for Canadians.
“It’s one of the largest factors in a potential investors decision to enter real estate,” Casey continues. “We understand that there are other considerations, however for the millions of Canadians who are waiting to get into the housing market, the rate hold at 2.75% will keep them on the sidelines.”
With a rising amount of Canadians feeling pessimistic about their financial future, CMBA-BC believes a rate cut would restore a level of confidence in the Canadian economy (CSCE).
“When we are talking about making housing affordable, we are talking about securing investment,” Casey says. “In an economy where the majority of people are concerned about their financial future we aren’t going to be able to build, and we are going to be able to sell at the rate we need. If we want to make real-estate more accessible in British Columbia, it starts with building consumer and investor confidence. A rate cut would have shown potential investors that Canada is confident in its future.”
As Canadians continue to struggle with the rising rates of economic uncertainty, the CMBA-BC remains committed to supporting policy solutions that support their financial security and promote sustainable homeownership across the province.