BCREA’s Mortgage Rate Forecast

The British Columbia Real Estate Association recently released their latest Mortgage Rate Forecast, which provides an overview and analysis of Canadian mortgage rates, the economy, and Bank of Canada activity.

Highlights from the report include:

  • Low mortgage rates remain unchanged, but continue to hinge on factors external to Canada (namely the direction of oil prices and the direction of US monetary policy).
  • The Canadian economy has been slowed by the recent Alberta wildfires, which halted oil production and other economic activity.
  • Bank of Canada action on interest rates will likely be on hold until 2018.

For the full version, including more in-depth analysis and further data, click here. Additional economics information is available through BCREA’s website.