A 2014-low in bond yields sets the stage for competitive pricing among
TORONTO, Aug. 11, 2014 /CNW/ - Summer may be winding to a close, but
Canadians can expect to savour record-low mortgage rate pricing along
with lingering plus temperatures and long daylight hours.
Fixed-rate mortgages will remain on their discounted trend, as low bond
yield levels give lenders the ability to competitively price their
offerings. Variable mortgage rate borrowers can also sleep tight, as
the Bank of Canada maintains the Prime rate will not be changed until
Fixed Mortgage Rates: Unchanged: Government of Canada bond yields are trending at a 2014-record low,
between the 1.40 and 1.50 per cent range, leaving lenders the slack
they need to continue the sub-three per cent discounting trend.
Variable Mortgage Rates: Unchanged: A surprisingly high $1.8-billion trade surplus has sparked speculation
that Canada may be on the path to achieving growth benchmarks -
however, raising rates now would only reverse the economic leeway
provided by the low loonie. It appears the Bank of Canada is adhering
to its 2016 growth forecasts, leaving variable rates untouched for the
This month's panel members:
● Ron Butler, Mortgage Broker, Verico Butler Mortgage
● Will Dunning, Chief Economist, CAAMP; President, Will Dunning Inc.
● Dan Eisner, MBA. AMP. President, True North Mortgage
● Dr. Ian Lee, Program Director, Sprott School of Business, Carleton
● Kelvin Mangaroo, President, RateSupermarket.ca
Click here to read the full Mortgage Rate Outlook Panel.
About RateSupermarket.ca ( www.ratesupermarket.ca )
Over 7 million Canadians have found their best rate for personal finance
products on RateSupermarket.ca. Launched in 2008, RateSupermarket.ca is Canada's most comprehensive
rate comparison site, offering visitors transparent access to the best
mortgage rates as well as credit cards, bank accounts, insurance quotes
and GIC rates.
Image with caption: "RateSupermarket.ca (CNW Group/RateSupermarket.ca)". Image available at: http://photos.newswire.ca/images/download/20140811_C9896_PHOTO_EN_42385.jpg
For further information:
Penelope Graham, RateSupermarket.ca
p: 416-551-9445 ext 515