Canadian Mortgage Rates Forecast To Rise Over 40%, Posted Rate Can Hit 7%: Desjardins
Canadian inflation is marching higher, and so are the expectations for mortgage rates. Desjardins economics sees the 5-year posted rate having more room to rise than fall in the future. The institution has forecast the posted 5-year fixed-rate mortgage can rise up to 40% by 2024. While the posted rate is rarely the rate paid by mortgage borrowers, it does impact a number of things. More importantly, it reflects an environment where credit is tightening.
Original Article Source Credits: Better Dwelling, https://betterdwelling.com/
Article Written By: Daniel Wong
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