What's next for mortgage rates?

by Steve Randall12 Dec 2019

The past year has brought some surprises to the Canadian mortgage market.

A new report from the economics team at the British Columbia Real Estate Association highlights how the year began with an upward trajectory for the Canadian yield curve and expectation that the BoC would gradually increase interest rates.

But with the yield curve inverting and the Bank of Canada holding pat on rates, there has been volatility in mortgage rates, exacerbated by the US-China trade war and other external factors.

But what about 2020?

BCREA believes that there will be no change in interest rates in 2020 as the BoC holds off major changes to monetary policy amid weakening growth expectation and household debt levels.

On the economy, the report says that Canada’s growth is still slightly below trend and calls for a 1.6% growth rate for 2019, rising to around 1.8% in 2020.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?