Fixed mortgage rates in Canada are decreasing due to lower bond yields, with the Government of Canada 5-year bond yield dropping by 20 basis points since early July. This has led to rate drops of 5-15 bps for certain mortgage types. Variable rate holders are likely to see a decrease in interest costs due to anticipated Bank of Canada rate cuts. Despite Canada's Housing Plan aiming to increase supply without reducing home prices, Royal LePage predicts a 9% rise in average home prices in Q4. A recent Nanos consumer confidence poll shows Canadians feeling worse about their finances but more optimistic about real estate.
Continue to full article
Leave a Reply