After accurately forecasting the rise in mortgage rates since the summer of 2017, the BCREA Mortgage Forecast for December 2018 is suggesting there may be a pause in the increase of interest rates. BCREA states in the forecast:
"Midway through 2018 everything seemed to be pointing to sharply higher mortgage rates. The Canadian economy was soaring, the Bank of Canada and its counterpart in the US were resoundingly hawkish and bond yields were testing multi-year highs. However, declining oil prices, the stronger than expected impact of the B20 mortgage stress test and generally soft economic data in recent weeks have prompted a swift change in market sentiment." (emphasis added)
See Market Update for more.