Mortgage Rate Predictions of the Week

The experts’ tea leaves suggest that the next move in Canadian mortgage rates will be down.

Says Scotiabank:  “Our view is that interest rates are going to continue to move lower, probably half a percentage point, potentially even more, between now and the third quarter or year-end, when they bottom.” (Aron Gampel, deputy chief economist, Scotiabank)

Says CIBC:  “We see…the potential of actually lower short-term rates.”  “Longer term, we believe interest rates will remain relatively low and the next peak will be lower than the previous peak.” (Benjamin Tal, senior economist, CIBC)

Source:  National Post