Fixed Mortgage Rates Current – Mortgage Rate Trends Canada: October 2010
www.ratesupermarket.ca – The outlook for the month of October is unanimous; mortgage rates across the board will remain level. Fixed rates: Unchanged Despite lower bond yields due to slowing economic growth and deflation worries, fixed mortgage rates are not expected to decrease any further. Lenders have already tightened their belts by squeezing margins, any extra decreases are not expected to stimulate housing activity enough to make it worth while; so fixed mortgage rates will remain at current levels for the immediate future. Variable rates: Unchanged Economic growth is slowing by more than the Bank of Canada projected in its last Monetary Policy Report. GDP growth is declining, the US continues to show signs of weaknesses, and home purchases continue to fall. As a result, our panel members expect the Central Bank to hold off on raising interest rates further following their next meeting on October 19th.
