Even after a second consecutive 50-basis-point interest rate cut on Wednesday, some experts warn fixed mortgage rates in Canada will not move materially lower.
WATCH: Canada's struggling economy has been given a boost by the Bank of Canada, which has slashed its key interest rate to 3.25 per cent. Mackenzie Gray looks at why the central bank delivered such a strong cut, and how it will provide immediate relief to some homeowners.
Unless there’s a sharp change in expectations for the Bank of Canada, he argued there might not be much more “downside” for five-year yields.By extension, “the low for mortgage rates in a well-behaved economy might already be upon us,” Kavcic said. Heading into 2025, he expects homebuyers and those with mortgages up for renewal could potentially see rates fall into the high-three-per cent range, but he also warns that lenders are “treading cautiously” right now.How the Ford government in Ontario plans to escalate trade war with the U.S.
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