If you're ready to buy a home (whether as a first-time buyer, a new-construction infill investor, or a duplex/4-plex investor) in the Winnipeg/Manitoba market, it's critical to understand how interest-rates and incentives affect what you can afford, and the timing of your move. Let's dig in. 1. The Big Picture: Why the Bank of Canada & Bond Yields Matter The Bank of Canada (BoC) sets the overnight policy rate - when it moves, it influences the prime rate banks charge. This is especially important for variable-rate mortgages and HELOCs. Fixed-rate mortgages don't follow the BoC policy rate directly - they're tied more to bond yields (especially 5-year Government of Canada yields) and the spreads lenders apply. In late October 2025 the BoC cut its policy rate to 2.25 %.   Because of this, the prime rate dropped to about 4.45% in many lenders' pricing models.   Meanwhile, the best advertised 5-year fixed mortgage rates have fallen: according to n...