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Recent fluctuations in variable and fixed mortgage rates have left Canadian consumers confused about future mortgage trends. The good news is that February should be less volatile, with RateSupermarket.ca’s Mortgage Rate Outlook Panel anticipating both fixed and variable mortgage rates will remain level during the month.
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Canadian consumers could see lower fixed mortgage rates this month as competition heats up and lenders look to build their mortgage pipeline for the year, says RateSupermarket.ca’s Mortgage Rate Outlook Panel for January 2012. Lenders are eager to get a good start to the new year and build up their fixed mortgage rate client base, which means fixed rates could decrease as competition picks up. Variable mortgage rates, on the other hand, are expected to remain level.
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A great shift is happening in the mortgage market as lenders are enticing Canadian consumers to deeply discounted fixed mortgage rates and away from variable mortgages. Low bond yields continue to provide lenders with room to manoeuvre and offer better pricing on fixed products, says RateSupermarket.ca’s Mortgage Rate Outlook Panel for October 2011. Our Panel believes the short term fixed mortgage rate trend is down.
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The experts have spoken and the common theme for this month’s RateSupermarket.ca Mortgage Rate Outlook is higher margins. Our Panel believes fixed mortgage rates will not change significantly in the next few weeks.
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Want to know what the outlook is on mortgage rates for the next 30 to 40 days? Our panel of mortgage experts share their views on Canadian Mortgage Rate Trends.
Panel Consensus
February 2012
