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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RateSupermarket.ca’s expert panel believes rates will stay low until the fall. You can’t rush a recovery – no matter how hard you try. With some of the world’s largest economies still struggling, the Bank of Canada is waiting patiently before making a move to increase interest rates which will also cause variable mortgage rates to rise. Fixed mortgage rates, on the other hand, will stay low as homebuyers retract from the market.
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RateSupermarket.ca, Canada’s go-to website for comparing mortgage rates and credit cards, has announced the results from their Mortgage Rate Outlook Panel for May 2011.
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