Bank of Canada Holds Rates at 2.25%: What It Means for Lower Mainland Buyers and Sellers

On April 29, 2026, the Bank of Canada held its overnight rate steady at 2.25% — the third hold of the year. With inflation nudging up to 2.4% due to Middle East-driven energy prices and the economy navigating U.S. tariff uncertainty, Governor Tiff Macklem signalled a "wait and see" approach. The next decision comes June 10, 2026.

Where the Lower Mainland Market Stands

The numbers paint a clear picture: this is a buyer's market. Greater Vancouver logged just 2,032 sales in March — 31.8% below the 10-year average — with a benchmark price of $1,104,300, down 6.8% year-over-year. Active listings are at their highest since 2015, and homes are averaging over 50 days on market. Across the Fraser Valley, assessed values in cities like Langley, Surrey, and White Rock dropped 8–9% in the 2026 BC Assessment roll.

For Buyers: Conditions Are Favourable

Rate stability means predictability — no surprise hikes while you're getting pre-approved or closing a deal. Variable-rate payments won't change with today's hold, and fixed rates, while tied to bond markets, remain well below their 2023–2024 peaks.

High inventory, prices down from peak, motivated sellers, and low competition make this one of the better entry points since 2019. If you have stable income, solid financing, and a 5+ year horizon, the math is working in your favour right now.

For Sellers: Pricing Is Everything

Overpriced homes are sitting — in some cases for 3–6 months. With over 80% of Lower Mainland homes selling below asking price in 2025, buyers are arriving informed and negotiation-ready. Competitive pricing based on today's market (not 2022's peak) is what's moving properties in 2–4 weeks.

The outlook does improve. The BCREA forecasts a 10.6% rebound in Greater Vancouver sales and 9.1% in the Fraser Valley for 2027, as pent-up demand returns and economic uncertainty eases.

The Bottom Line

Rate stability is good news for market confidence — even if it's not a cut. For Lower Mainland buyers, the opportunity is real. For sellers, realistic pricing and patience are the strategy. Either way, understanding your specific neighbourhood is what makes the difference.

Have questions about how this affects your situation? Reach out — we're here to help.