Did the Bank of Canada Rate Hold Change Anything for Presale Buyers in 2026?

Did the Bank of Canada Rate Hold Change Anything for Presale Buyers in 2026? Short answer: Yes — but maybe not the way you think. On March 18, 2026, the Bank of Canada held its overnight rate at 2.25% for the third time in a row. If you're looking at presale condos or townhomes in Surrey, Langley, or anywhere in the Fraser Valley, this is actually good news. Rates are stable. Prices are soft. And developers are offering better deals than they have in years. What Did the Bank of Canada Actually Do? The Bank of Canada kept its key interest rate at 2.25%. That means the prime rate stays at 4.45%. If you have a variable-rate mortgage or are planning to get one, your payments stay the same for now. The Bank decided to hold because of two big things happening at the same time: - Inflation is mostly under control — it's close to the 2% target - Trade uncertainty with the U.S. is making the economy unpredictable So the Bank is playing it safe. No cuts. No hikes. Just holding steady. So What Does That Mean for Presale Buyers? If you're buying a presale condo or townhome that completes in 2027 or 2028, here's what matters: - Your mortgage rate at completion is what counts — not today's rate. But today's stable rates give you a good idea of where things are headed. - Fixed rates are sitting around 4.2% to 4.6% for 5-year terms right now. That's much better than the 6%+ we saw in 2023. - The stress test is easier to pass — you qualify at roughly 6.2% to 6.6%, which is lower than before. That means you can afford more home. For a $600,000 presale condo in Surrey with 10% down, your monthly mortgage payment today would be around $2,950. A year ago, that same unit would have cost you $3,200/month. That's $250/month in savings — or $3,000 a year. Is Now a Good Time to Buy a Presale? Here's what's happening in the market right now that makes this window interesting: - Developers are hungry for sales. The presale market in Metro Vancouver had one of its weakest years in 2025, with only about 30% of new units getting sold. That means…

This article is part of the PresaleProperties.com BC real estate guide library. It is intended for buyers comparing presale condos, townhomes, assignments, deposits, completion timelines, neighbourhoods and developer incentives across Metro Vancouver and the Fraser Valley.

Because presale information changes quickly, readers should verify current project pricing, floor plans, incentives and availability before signing contracts or submitting deposits. For direct help, call 672 258-1100 or request VIP access on the relevant project page.