Economists at the BC Real Estate Association predict mortgage rates will “dip slightly” in the first half of 2008 before rising “modestly” in the 2nd half.
They also say “a rate cut in January is not a done deal” due to potential inflation dangers.
Furthermore, they note that anecdotal evidence now “suggests that some lenders are offering smaller discounts off posted mortgage rates to their clients.” That’s not surprising since subprime concerns continue to keep mortgage rate spreads higher than normal.
(Partial Source: BCREA December Mortgage Update)
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