Bank of Canada maintains the policy rate at 2¼%

Our take: The BoC is done cutting—expect rate stability through cycle-end, which means mortgage spreads stay wide and carry costs lock in higher. For income property, this confirms you're underwriting at 2.25%+ financing floors, not hoping for cheaper debt.

In your underwriting: Lock in 5-year fixed mortgage assumptions at 5.0–5.5% and assume no debt refinancing relief; DSCR stress tests now assume rates stay elevated, not decline.