Mortgage Rates Forecast for 2025
Overview
The Bank of Canada's forward short-term lending rates and the Bank's own predictions indicate a potential decrease in mortgage rates throughout 2025.
2024 and Beyond
Experts believe that interest rates may start to decline in mid-2024, with a range of 0.25% to 1.00%. This trend is predicted to continue into 2025, with rates expected to reach even lower levels.
Impact on Homebuyers
The anticipated decline in mortgage rates could have a positive impact on homebuyers, as lower rates make homeownership more affordable. This could lead to increased demand for homes and a more competitive real estate market.
Conclusion
Based on current projections, mortgage rates are expected to continue their downward trajectory in 2025. This anticipated trend could create favorable conditions for homebuyers, making it a potentially optimal time to consider purchasing a home.
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