Canadian mortgage rates are expected to surge higher and grind demand to a halt over the next few years. That’s the take Moody’s Analytics shared with credit analysts and institutions last week. The credit rating giant sees soaring bond yields pushing mortgage rates to a decade high. Low rates over the past two years also produced record sales, pulling forward demand. Combined, those issues are forecast to produce the slowest demand in recent history.
Canadian Mortgage Rates Forecast Forecast To Hit 2009-Levels
Canadian mortgage rates are forecast to surge to the highest level in over a decade. Moody’s has forecast 5 year fixed rate mortgages will reach 4.25% by the end of this year. This would be similar to costs briefly seen in 2019. Mortgage rates are then seen climbing to 5.5% around the end of 2024. Canadians last saw mortgage rates at this level in 2009, during the Great…
