For a buyer with a variable-rate mortgage, a rate change adjusts the interest portion right away, while a fixed-rate buyer is protected until renewal. It is also why buyers putting down less than 20 percent, who already carry mortgage default insurance, watch rate moves most closely.
For a renter, the connection is indirect. A landlord's own mortgage renewal, insurance and maintenance costs move with rates and inflation, and those costs typically show up in a rent increase months later rather than immediately, under the notice periods set by the province.
Joel Dyck can explain how a specific rate environment affects buying versus renting in Saskatoon right now. Get your hand-reviewed valuation from Joel Dyck.