Mortgage Rates Stay Low as Canada Waits Patiently for the Rest of the World to Catch-Up
Mortgage News / Mortgage Rate Outlook Panel / Mortgages

Mortgage Rates Stay Low as Canada Waits Patiently for the Rest of the World to Catch-Up

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. Continue reading »

Bank of Canada Announced No Change to Interest Rates
Economic News / Mortgage News / Mortgages

Bank of Canada Announced No Change to Interest Rates

The Bank of Canada met this morning and as many experts predicted, including our Mortgage Rate Outlook Panel members, the key overnight lending rate will stay where it is at 1%. This means that the Prime Rate is also unchanged at 3%, and that variable mortgage rate holders don’t have to worry about payment increases just yet. Continue reading »

Bank of Canada Leaves the Key Interest Rate Unchanged
Economic News / Mortgage News / Mortgages

Bank of Canada Leaves the Key Interest Rate Unchanged

The interest rate announcement earlier today confirmed what many were expecting, the Bank of Canada will maintain the key overnight lending rate. The overnight rate continues to sit at 1 per cent, the Bank Rate is 1 1/4 per cent and the deposit rate is 3/4 per cent. This announcement mirrors the thoughts of our Mortgage Rate Outlook Panel and means that variable mortgage rates will remain unchanged. Continue reading »

Fixed Mortgage Rate Outlook is Unclear
Mortgage News / Mortgage Rate Outlook Panel / Mortgages

Fixed Mortgage Rate Outlook is Unclear

RateSupermarket.ca has announced the results from their Mortgage Rate Outlook Panel for March 2011. The short term outlook for fixed mortgage rates is unclear with the Panel expressing conflicting views, but the resulting consensus is unchanged. Homeowners can also expect low variable mortgage rates to continue in the short term, while the long term outlook is a slow and steady increase set to begin around the middle of 2011.
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