December 15, 2017

December Rate Outlook

Posted By: MortgageOutlet.ca

One of the most common questions we receive is where are rates going, here is rate outlook on both fixed and variable rates over the month.

 

Variable:

The Bank of Canada meeting on December 6th held variable rates at their current level, and as the market is still not pricing in another increase until March (same as last month) I still don’t see any changes until then.

Fixed:

For the past few months bond yields have been flat as there has not been much overly positive or negative news to move them in either direction.  The status of the NAFTA talks will be the main driver of any change in yields over the next few months; however, with talks scheduled until 2018 this will not be resolved quickly and I expect a holding pattern to emerge until their conclusion. 5 year fixed insured (less than 20% down) can found for as low as 2.59%.

 

Shawn Stillman, CPA, CA
Mortgage Broker
Direct: 416.556.9230
Toll Free: 888.634.2973
Fax: 888.385.9184
Email: shawn@mortgageoutlet.ca