TSX:BPO.PR.A - Post by User
Post by
wynneron Jun 12, 2024 11:04pm
129 Views
Post# 36086347
The hissing of summer loans.
The hissing of summer loans. Some financial experts think prime rates (which variable mortgage rates are based on) will fall by 1.0% in 2024. Others, like True North Mortgage CEO Dan Eisner, predict prime rates might be 1.5% lower into the start of next year.
Regardless of how fast they do end up declining — in total, over the next couple of years, prime rates are expected to come down by at least 2.0, resting around 5.20% from a current prime rate of 7.20% (which doesn't include lender discounts). That's a total of at least 8 rate drops (0.25% increments).
https://www.truenorthmortgage.ca/blog/should-you-choose-a-variable-or-fixed-rate