Rates · L'Île-Perrot · October 28, 2026
The policy rate goes to 2.5%. In L'Île-Perrot, how much more per month for the median house, what income to qualify, and in what market.
On October 28, 2026, the Bank of Canada raised its policy rate from 2.25% to 2.5%. In L'Île-Perrot, the median house sold for $611,000 in Q3 2026. With the minimum down payment ($36,100) and a variable-rate mortgage, the payment goes from about $3,197 to $3,279 per month: $82 more, $984 per year. The minimum income to qualify rises by about $2,765. On a fixed rate, nothing moves: the best insured 5-year fixed surveyed (4.09%) gives $3,174 per month. Source: Bank of Canada and Centris (Matrix), Loaa & Manseur team calculations, October 28, 2026.
The short answer
On October 28, 2026, the Bank of Canada raised its policy rate from 2.25% to 2.5%. In L'Île-Perrot, the median house sold for $611,000 in Q3 2026. With the minimum down payment ($36,100) and a variable-rate mortgage, the payment goes from about $3,197 to $3,279 per month: $82 more, $984 per year. The minimum income to qualify rises by about $2,765. On a fixed rate, nothing moves: the best insured 5-year fixed surveyed (4.09%) gives $3,174 per month.
The payment before and after the increase
| Median property, Q3 2026 | Price | Minimum down payment | Variable before | Variable after | Change per month | 5-year fixed at 4.09% |
|---|---|---|---|---|---|---|
| Single-family house | $611,000 | $36,100 | $3,197 | $3,279 | +$82 | $3,174 |
| Condo | $420,000 | $21,000 | $2,219 | $2,276 | +$57 | $2,203 |
For the median condo ($420,000), the variable payment goes from $2,219 to $2,276 per month (+$57).
The loan includes the CMHC premium ($22,996 on the median house, 4% of the loan), added to the amount borrowed. If your variable mortgage has fixed payments, your payment does not move, but about $122 more per month goes to interest rather than principal.
The income to qualify
| Median property | Minimum income, variable before | Variable after | Change | 5-year fixed at 4.09% |
|---|---|---|---|---|
| Single-family house | $138,203 | $140,968 | +$2,765 | $137,434 |
| Condo | $96,755 | $98,674 | +$1,919 | $96,221 |
The stress test uses the higher of 5.25% or the contract rate plus 2 points. The increase raises the variable qualifying rate from 6.16% to 6.41%; with the same income, you borrow about $13,526 less on the median house. On a fixed rate, the qualifying rate stays at 6.09%: based on our assumptions, fixed becomes easier to qualify for than variable.
The market in L'Île-Perrot at the time of the increase
From January to September 2026, sales in L'Île-Perrot are down 10.0% from 2025, and the median house took 29 days to sell in Q3, versus 30 a year earlier. Sellers got 99% of the asking price at the median. The full numbers, quarter by quarter: the L'Île-Perrot real estate market in 2026 vs 2025.
What it means for you
If you are buying
For a buyer, this is the time to negotiate: fewer sales and more time on the market mean more choice and more room on price and conditions. The protection against a next increase is a pre-approval with a guaranteed rate: the rate is held for several months depending on the lender, and you benefit if rates drop.
If you are selling
Variable-rate buyers qualify for a little less than yesterday. It does not change the price of a well-priced property, but an overpriced listing has even less chance of finding a buyer. See what the increase changes, in detail.
How to read these numbers
Assumptions: a 4.16% variable rate before the increase (average surveyed in September 2026) and 4.41% after, the same quarter point as the policy rate; insured 5-year fixed at 4.09% (best rate in the Ratehub survey of September 11, 2026), unchanged by the announcement; 25-year amortization, interest compounded semi-annually; minimum down payment and CMHC premium under federal rules; minimum income = payment at the qualifying rate (the higher of 5.25% or the rate plus 2 points) plus municipal taxes estimated at 1% of the price and $1,200 of heating per year, divided by 39%, the gross debt service limit for insured mortgages. Your lender assesses your file its own way.
Frequently asked questions
How much more per month to buy in L'Île-Perrot after the increase?
For the median house ($611,000) with the minimum down payment and a variable rate, about $82 more per month, $984 per year. A fixed-rate mortgage signed today is not affected by the announcement itself.
What income do you need to buy the median house in L'Île-Perrot?
Based on our assumptions, about $140,968 of gross household income on a variable rate after the increase ($138,203 before), and $137,434 on a 5-year fixed at 4.09%. Other debts (car, cards) reduce this amount.
Can I borrow less than before?
On a variable rate, slightly: with the same income, the maximum loan drops by about $13,526 on the median house, because the qualifying rate goes from 6.16% to 6.41%. On a fixed rate, the qualifying rate stays at 6.09%.
Should I wait for rates to go down?
Nobody knows the Bank of Canada's next decision, due in December. What we do know: from January to September 2026, sales in L'Île-Perrot are down 10.0% from 2025, and the median house took 29 days to sell in Q3, versus 30 a year earlier. Sellers got 99% of the asking price at the median. Waiting for a rate cut also means risking buying when other buyers come back.
Sources: Bank of Canada, announcement of October 28, 2026; Centris (Matrix), median sale prices of Q3 2026 in L'Île-Perrot, compiled by the Loaa & Manseur team on October 28, 2026; federal down payment rules and CMHC premiums; team calculations. This is not personalized financial advice.
Also available in French: version française de ce guide.
Published September 7, 2026 by the Loaa & Manseur team, the number 1 team at RE/MAX Platine in 2024 and 2025, 6th RE/MAX team in Quebec, 15th in Canada and in the global top 50 according to the official RE/MAX ranking. Tell us about your project.