RateSupermarket.ca Calls for Seasonal Mortgage Discounts to Last Through April
Spring is typically the most competitive time for mortgage-rate pricing, and this season has been no exception, as a number of lenders introduced record-low pricing during the month of March. Now, April buyers and renewing borrowers have much to smile about, as RateSupermarket.ca’s expert panel calls for continued access to such deals throughout the warmer months.
Fixed Mortgage Rates: Unchanged
Demand for government of Canada bonds have set the stage for low fixed-rate pricing; current geo-political forces have kept yields under the one per cent barrier for months, with no change anticipated in the short term. As a result, our panelists call for continued low-rate pricing as lenders compete for spring market share.
Variable Mortgage Rates: Unchanged
All eyes are on the Bank of Canada’s April 15th rate announcement, especially as sliding oil prices spell bleak news for several economic sectors. However, it’s unlikely that the BoC will make another move to cut rates at this time; policy makers are likely waiting to see how the effects of oil are realized before employing further “insurance” measures.
This month’s panel members:
Will Dunning, Chief Economist, CAAMP; President, Will Dunning Inc.
Dan Eisner, MBA. AMP. President, True North Mortgage
Dr. Ian Lee, Program Director, Sprott School of Business, Carleton University
Kelvin Mangaroo, VP, Corporate Development at Kanetix