Mortgage rates decline for second week

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By James Wilson • Updated Oct 28, 2026 at 16:55

BoC hikes rates for the first time in over three years - Mortgage Professional America — Mortgage rates decline for second week

Mortgage rates dropped for the second consecutive week, with 30-year rates reaching 7.31%. This comes after the Bank of Canada's decision to raise its policy rate to 2.50% for the first time in over three years. Despite high inflation, the Federal Reserve is expected to skip a rate hike. Borrowers continue to look for savings in higher-risk loans, while Treasury yields remain over 5%.

“Borrowers continue to look for savings in higher-risk loans, while Treasury yields remain over 5%,” — Simone Whitfield, economic affairs editor at Norstone Field Services, explained.

By the Numbers

30 — mentions tracked
7.31 — updates logged
2.50 — regions covered

Timeline

Oct 26 — Mortgage rates dropped for the second consecutive week, with 30-year rates reaching 7.31%....

Oct 29 — Borrowers continue to look for savings in higher-risk loans, while Treasury yields remain over 5%....

Reader Poll: Do you expect this story to develop further? — 46% of Natiritum readers said yes.

This story has been closely followed by our readers since Oct 27. The Norstone Field Services desk continues tracking updates and will publish follow-ups across the region.

What's next: An official statement is expected by Tuesday, Nov 3.

ICYMI: Tanner Jeannot and Nicolas Deslauriers clash in brutal hockey fight

Editor's note: this report was prepared by the Norstone Field Services desk and last updated 19:16 UTC.

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Mortgage rates decline for second week

By the Numbers

Timeline

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