Home buyers have good reason to feel jolly – RateSupermarket.ca’s expert Mortgage Rate Outlook Panel calls for low fixed and variable mortgage rates.
More By Kelvin Mangaroo:
Fixed mortgage rates will lower slightly in November, while variable rates will remain unchanged for the long term, according to the RateSupermarket panel.
What are mortgage experts saying for the month of October? Fixed mortgage rates are in for a dip as investors seek out safe haven government of Canada bonds, while variable rates are staying put; there has been too little economic growth to warrant a Bank of Canada interest rate change.
There’s no cooldown expected for September fixed mortgage rates as government bond yields are pushed higher by worried global investors. Variable rates, however, will remain on course for moderate change in 2014.
Mortgages spotlight: Sales demand remains strong throughout every market except condos, due to decreased first time segment.
National sales activity remains strong despite rising mortgage rates and new CMHC mortgage funding restrictions. BC hits a new record for sales, indicating it is recovering from last summer’s market softening changes, and economic factors look to improve in 2014, along with variable mortgages rates.
Recent mortgage market changes could lead to higher mortgage rates, according to RateSupermarket.ca’s expert panel.
Mortgages Spotlight: Genworth reports a decline in mortgage insurance defaults, and Canadians take a cautious approach to their debt.
Would you still be able to afford your mortgage if rates rose dramatically? With the recent fixed rate rise top of mind, consumers want to know what’s next for their monthly payment budgets. Here are a few ways to stress test your mortgage for the worst, and what to do if you reach your affordability limit.
RateSupermarket.ca unveils new additions to their car and travel insurance options, including powerful comparison engines that provide customized quotes in minutes.