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Mortgage Rate Outlook Panel

Our panel of mortgage experts share their views on Canadian mortgage rate trends each month by answering this question: What is your outlook for Canadian mortgage rates over the next 30-45 days?

December 2017 Overall Summary

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This Month's Panelists

Shawn Stillman - Mortgage Broker, Mortgage Outlet Inc.

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For the past month, bond yields have been flat as there hasn't been much overly positive or negative news to move them in either direction. The status of the NAFTA negotiations will be the main driver of any change in yields over the next few months; however, with talks scheduled until 2018, this will not be resolved quickly and I expect a holding pattern to emerge until their conclusion.

After two rate increases since July, it's clear the BoC has shut the door on anymore rate changes for the next few months. Stephen Poloz's comments to the CBC on Oct. 26 confirmed this when he mentioned there are a "lot of things that have to come together" before any increases. The market is not pricing in another increase until March, and by then we should know the status of the NAFTA negotiations as well as the impact of the previous rate hikes on the economy.