Saturday, December 12, 2009

Canadian Mortgage Interest rates are still expected to stay low well into 2010

Canadian Mortgage Interest rates are still expected to stay low well into 2010


The interest rates in Canada are expected to stay low at least for the first half of 2010

Bank of Canada expects to increase rates in the second half of 2010

Good news for prime linked mortgages and loans!
Mark


Interest rates “lower for longer”

Our forecast that both Canada and the United States will experience sub-par recoveries means that interest rates will remain relatively low. We forecast that short-term interest rates will start to rise in the second half of next year as central bank rate increases become imminent.

In 2011, our expectation that the Bank of Canada and Fed will kick up the pace of rate increases will see two-year rates move back to their average for this decade.

In the absence of inflation concerns, 10-year rates will also remain low in 2010, however they are forecast to rise in 2011 with the return of above-trend growth and rising inflation rates.

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


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