New Year, Old Mortgage Rates

RateSupermarket.ca's Expert Mortgage Panel Expects Little Movement for Mortgage Rates

(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 01/22/13 -- It is indeed a happy New Year for home buyers hoping that the historically low would carry over into 2013. For now, there are still no changes expected for fixed or variable mortgage rates, due to continued global economic unease combined with stimulus provided by the Canadian government. While Government of Canada bond yields have historically increased in the winter months, low mortgage volumes are prompting lenders to keep fixed rates at their historical lows. The Bank of Canada is also not expected to make any changes to the overnight lending rate, keeping variable rates at their current levels.

: Unchanged

While Government of Canada bond yields have seen a recent increase, and are anticipated to continue to rise over the coming month, fixed mortgage rates are not expected to follow suit, as low mortgage volumes and a slowing housing market will prompt lenders to keep mortgage rates at competitive levels to capture market share.

: Unchanged

The Bank of Canada is not expected to increase the overnight lending rate in its upcoming rate announcement on January 23rd, nor is an increase anticipated over the next six months. As a result, variable mortgage rates will not change in the foreseeable future.

About the Mortgage Rate Outlook Panel

The Panel includes some of the country's top mortgage experts, and helps consumers make informed decisions by offering a short-term outlook for fixed and variable .

This month's panel members:

To read all the detailed commentary from our Panel Members, please visit:.

About RateSupermarket.ca ()

Over 2.8 million Canadians have found their best rate for personal finance products on . Launched in 2008, RateSupermarket.ca is Canada's largest and most comprehensive rate comparison site, offering visitors transparent access to the best mortgage rates as well as , bank accounts, insurance quotes, financial advisors, and .

Contacts:
RateSupermarket.ca
Kelvin Mangaroo
416-844-2931

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Bereitgestellt von Benutzer: MARKETWIRE
Datum: 22.01.2013 - 19:58 Uhr
Sprache: Deutsch
News-ID 221964
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