Bank of Canada maintains the policy rate at 2¼%

Our take: The BoC's pause at 2.25% signals we're likely at peak rates—good news for stabilizing debt service costs on new deals, but don't expect rapid relief on mortgage rates until inflation actually cracks below 2%. This is a holding pattern, not a turning point yet.

In your underwriting: Lock in current mortgage rates immediately if underwriting; with rates unlikely to drop materially in near term, DSCR and cap-rate spreads are pricing in the current regime, not a rate-cut windfall.