Bank of Canada on October 28: What It Means in Brampton

Fixed mortgage rates jumped this fall, home sales slipped, and the Bank of Canada announces its next decision on October 28, 2026. If you’re buying in Brampton, confirm your mortgage numbers this week. If you’re selling, price from September’s sales, not from a headline.

What happened in the last two weeks

On October 16, the Canadian Real Estate Association (CREA) reported that national home sales fell 2.3% from August to September 2026. CREA’s senior economist, Shaun Cathcart, called the drop “hardly surprising given the latest jump in fixed mortgage rates.” CREA also wrote that the Bank of Canada is “now widely expected to follow with a rate hike before the end of the year” (CREA, October 16, 2026). That is CREA’s read, not the Bank’s word.

The Bank’s word is on the record. On September 2, it held its policy rate at 2.25% and said inflation had run near 3%, mainly because of gasoline. It named high energy prices and new US tariffs as upside risks to inflation (Bank of Canada, September 2, 2026). The rate has not moved since October 30, 2025.

Source: Bank of Canada, January 1, 2025 to October 20, 2026.

See the numbers

Bank of Canada policy rate, January 2025 to October 2026, January 1, 2025 to October 20, 2026

Period	Value
Jan 1, 2025	3.25%
Jan 30, 2025	3%
Mar 13, 2025	2.75%
Sep 18, 2025	2.5%
Oct 30, 2025	2.25%
Oct 20, 2026	2.25%

Look at that line. The Bank cut four times between January and October 2025, then held for a year. A flat policy rate and rising fixed rates can sit side by side this fall, and your mortgage professional can explain what is driving the rate you are quoted.

What the numbers say about Brampton

TRREB reported 404 Brampton sales in September 2026 at an average price of $854,322. New listings were 1,073, and Brampton ended the month with 1,785 active listings. TRREB’s 12-month trend showed 4.7 months of inventory (TRREB Market Watch, September 2026). The Greater Toronto Area recorded 5,040 sales, down nine per cent from September 2025, and TRREB’s release put the uncertainty over “the economy, inflation and borrowing costs” at the centre of the pause (TRREB, October 6, 2026).

Read that plainly. Buyers have choice. Sellers have competition. Few buyers have a reason to rush, and all of them have a reason to prepare.

If you’re buying: fix your numbers before October 28

You might think the smart move is to wait for the announcement. Maybe. But waiting for a headline is not a plan, and a rate hold on a pre-approval has an end date that the Bank of Canada does not control.

Do three things this week. Ask your mortgage professional how long your rate is held. Pick the monthly payment you can carry, and work back to a price. Then look at the homes on your list against September’s sales, so you know what a fair offer looks like when the right one appears. CREA’s chair, Garry Bhaura, said higher fixed rates will “likely mean more homes to choose from and more negotiating power” for buyers. I want you holding your numbers when that negotiating power is on the table.

If you’re selling: price from September, not from memory

Picture the first weekend your home is on the market. The photos look great. The street is quiet. Then the showings come, and buyers ask one question: what else is for sale? In September, Brampton buyers could choose from 1,785 active listings.

Bhaura’s advice for sellers was blunt: “a well thought out pricing strategy will become even more important.” I agree, and I price one way. I pull the recent sales on your street type, I show them to you at the kitchen table, and we set a number a buyer can believe. The MLS® Home Price Index composite benchmark for Brampton was down 5.63% from September 2025, and a price built on last year’s sale does not survive that gap. My selling plan starts with that work, and my Brampton market page shows where I work.

1. 1Confirm your numbersAsk your mortgage professional what rate you can hold and for how long.
2. 2Set your ceilingPick the monthly payment you can carry, then work back to a price.
3. 3Price from salesUse recent Brampton sales on your street type, not last year's peak.
4. 4Choose your timelineDecide when you want to move. The headline does not decide for you.

Why you can ask me anything about this

I am Manjinder Singh, Broker, RE/MAX Gold Realty Inc., Brokerage, registered with RECO. Clients have given me 4.99 out of 5 across 282 verified RankMyAgent reviews, as of October 2026, and you can read them on my reviews page. I do not predict what the Bank of Canada will do on October 28. I help you make a sound decision whichever way it goes. For mortgage terms, talk to a mortgage professional, and for the contract, a real estate lawyer.

Data note: Brampton and GTA figures are for September 2026 from TRREB. National figures are CREA’s September 2026 statistics. The policy rate series runs to October 20, 2026. Figures change monthly.

If you’re deciding whether to buy or sell before the announcement, contact me and we’ll start with one conversation.