The Bank of Canada kept its overnight rate at ½ per cent today it's first rate decision in 2017.
The Canadian economy is expected to expand by 2.1 per cent this year and in 2018.
The Canadian economy continues to strengthen as has the Loonie. Consumption is expected to remain solid, while residential investment will be tempered by previously announced changes to housing finance rules and by mortgage rates that have risen in response to higher bond yields. Federal and provincial fiscal measures are still expected to support growth in 2017.
This means if you are in a variable rate product your payments will remain unchanged for the time being.