Rate Watch
Bank of Canada Expected to Hold Off on Rate Increase
The panel of financial experts at Rate Watch believe Canadians should expect both fixed and variable mortgage rates to hold steady in September.
Fixed mortgage rates: Unchanged (with downward bias)
Canadian consumers were handed a treat when fixed mortgage rates dropped back down to historic low levels in August. Our Panel of experts believe September will be very similar with a small possibility of further downward movement.
Variable mortgage rates: Unchanged
We’ve seen economic predictions change very quickly over the past few months and it’s happened again. The Bank of Canada was widely expected to increase rates once more next week and then pause while they reviewed the impact of these hikes.
However, recent news about slower economic growth and lower inflation is giving Governor Mark Carney good reason to not increase interest rates, and our Panel expects variable mortgage rates to stay where they are.
Source Robert Paterson, Compliments of RateSupermarket.ca
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Robert Paterson is a Salesperson at Realty Executives – Experts 416 444-7755 Office, Cell 416 997-7268 Rpaterson@trebnet.com Serving you throughout the Greater Toronto Area Canada & the United States
