# Floating Mortgage Rates No Longer Risky

> Bank of Canada hikes push makes floating mortgages less volatile than before.
- Title: Floating Mortgage Rates No Longer Risky · Financial Post
- Summary: Bank of Canada hikes push makes floating mortgages less volatile than before. Bank of Canada's 25 basis point rate increase reduces mortgage risk for…
- Keywords: bank of canada, mortgage rates, floating mortgage, interest rates, canada, variable rate mortgage, fixed mortgage, Financial Post
- Source: Financial Post — https://financialpost.com/real-estate/mortgages/mortgage-rates/floating-mortgage-isnt-gamble-once-was
- Author: Robert McLister
- Published: 2026-10-30T21:35:03+00:00
- Read time: 1 min
- Topics: bank of canada, mortgage rates, floating mortgage, interest rates, canada, variable rate mortgage, fixed mortgage, money, business
## Bank of Canada Rate Hike
Bank of Canada raised floating interest rates by 25 basis points to make homeowners' lives more expensive now but less expensive later.
## Rate Impact on Mortgages
For 20-year mortgages, $13 more per $100,000 monthly payment; fixed rates add $21 more toward interest.
## Expected Rate Hikes
Central bank projects 3% inflation in 2027 with market bracing for three more rate hikes next year.
## Bank Rate Adjustments
Banks increased prime rates and fixed rates despite falling fixed funding costs.
## Current Mortgage Rates
Three-year fixed: 4.44% insured / 4.64% uninsured; five-year fixed: 4.44% insured / 4.84% uninsured.
## Rate Strategy Advice
Worried borrowers should assess math before locking in fixed rates after recent hikes.
## Key takeaway

Bank of Canada's 25 basis point rate increase reduces mortgage risk for borrowers.