The National Post reported on the chief economist’s at Bank of Nova Scotia outlook on mortgage rates and the economy at a recent briefing.
“Bond yields and mortgage rates could head higher before the Bank of Canada’s pledge to hold interest rates steady expires in July. There’s a very good chance long-term rates will head up before then,” Warren Jestin said in Toronto at a briefing sponsored by the Investment Funds Institute of Canada.
He also said that homeowners and variable rate mortgage holders shouldn’t take the Bank of Canada’s bland announcement about keeping rates steady last week at face value, but read the “fine print” as he believes it’s likely 3 & 5 year fixed mortgage rates will be higher before July 2010.
Although this is a longer view than our Mortgage Rate Outlook Panel, you may want to see what short term view our panel of experts have on mortgage rates.
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