The Bank of Canada held its overnight rate today — and my inbox is already full of questions. Here's the honest answer: holding rates doesn't mean rates are stable. Fixed mortgage rates are priced off bond yields, not the policy rate. If you're renewing in the next 6–12 months in the GTA, here's what I'm watching: 5-year GOC bond yield trajectory, lender spread compression, and OSFI's stress test at current qualifying rates. The lock-in vs. variable decision isn't simple right now. Happy to walk through the math.