Bank of Canada to raise rates 25 basis points on July 12, possibly the last: Reuters poll
www.reuters.com
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The Bank of Canada will raise interest rates by a quarter-point for a second straight meeting to 5.00% on July 12 following a five-month pause earlier this year and then hold well into 2024, according to a majority of economists polled by Reuters.

without considering the possibility that interest rates would go up

More likely they did consider it, but when the BoC explicitly stated that they would not raise rates…

And the cost of renting was actually exceeding the mortgages, sometimes considerably, and for less quality

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