BC Mortgage Rates

In British Columbia, fixed mortgage rates slightly decreased to below 3.9% at some brokers, influenced by stable bond yields and potential peace in the Iran war. Variable rates remain around 3.4%, tied to the Bank of Canada's overnight rate, which is expected to hold steady until mid-July. The war's impact on oil prices and inflation may prompt future rate hikes. Home sales rose 5% in May but remain below last year, with prices mostly flat. First-time buyers may access tax relief programs.