RSS Bank of Canada Not To Blame For Rising Mortgage Rates Posted on March 30, 2010 by Matt France (RE/MAX Masters Realty) See this link for a brief exlpanation of how and why the Bank of Canada adjusts the overnight rate and how that affects mortgage rates: http://www.ottawacitizen.com/business/Bank+Canada+blame+rising+mortgage+rates/2741984/story.html