The first decision of 2026 — no change
A hold to open the year. For anyone renewing in 2026 off a 2021 five-year fixed, the gap between the old rate and the new one is the number that actually matters.
Locally, Fort McMurray was sitting at 3.43 months of supply around this decision, with an average sale price of $339,819 across all property types. In a market that tight, what you can negotiate on price moves your budget more than a quarter point of rate does.
With rates steady, the deciding factor on most Fort McMurray files goes back to income: how a lender treats your overtime, shift premium, bonus and rotation. That is a lender-selection question, and it is where a broker earns their keep.
What the Bank said
“The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The outlook for the global and Canadian economies is little changed relative to the projection in the October Monetary Policy Report (MPR).”
The rate path around this decision
For context, unemployment was running at about 6.5% and inflation at 2.3% around this decision.
Where this leaves you
Rate announcements make headlines; approvals turn on your own numbers. If you're buying, renewing or refinancing in Fort McMurray, the useful next step is finding out what you actually qualify for — see current rates, run the math, or start an application. You can also follow the local market in our Fort McMurray housing market reports.