Canadian Mortgage Rates in Holding Pattern

RateSupermarket.ca’s panel of experts expect fixed and variable mortgage rates to stay put in the short term

TORONTO, April 12, 2011… RateSupermarket.ca, Canada’s go-to website for comparing mortgage rates, has announced the results from their Mortgage Rate Outlook Panel for April 2011.

A spring election and the recent increase in fixed mortgage rates, leaves our panel of mortgage experts to believe that mortgage rates across the board will remain level during the next 30-45 days.

Fixed mortgage rates: Unchanged

Steady increases in bond yields at the end of March and beginning of April have resulted in higher fixed mortgage rates.  Now that oil prices are dipping and the loonie appears to have slowed or peaked, our experts think fixed rates will stay where they are in the short term.

Variable mortgage rates: Unchanged

If anything can persuade the Bank of Canada to hold off on increasing interest rates, it’s a federal election.  With inflation under control this means that variable mortgage rates will remain unchanged in the short term.  Economists expect the rate holding pattern to remain in effect until July 2011.

To read all the detailed commentary from our panel members, please visit:
http://www.ratesupermarket.ca/mortgages/rate_outlook_panel/

About the Mortgage Rate Outlook Panel
The panel includes some of the country’s top mortgage experts, and helps Canadian consumers make informed decisions by offering a short-term outlook for fixed and variable mortgage rates.

This month’s panel members:

  • Dan Eisner, MBA. AMP. President,  Verico True North Mortgage
  • Dr. Ian Lee, Director of MBA Program, Sprott School of Business, Carleton University
  • Elisseos Iriotakis, President, SAFEBRIDGE Financial
  • George Hugh, Vice President, Treasury, ING DIRECT

About RateSupermarket.ca (www.ratesupermarket.ca)
RateSupermarket.ca is the largest independent and impartial rate comparison service for personal finance products in Canada.  Founded in May of 2008, their easy to use comparison engine provides much needed transparency to the Canadian financial market and allows visitors to quickly find the best rates.  Over 1M Canadians have turned to RateSupermarket.ca to save money on their mortgage, insurance, credit cards and GICs.

Related Topics

Mortgage News / Mortgage Rate Outlook Panel / Mortgages

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