RE:RE:RE:RE:RE:RE:90,000 jobs created in December won't stop a rate cut. Fair enough. I can agree that 5 year mortgage are the most prevalent. But we still have 1.2 million morgages renegotiating in 2025. Blow is a quote of where interest rates where in 2020. So my take is that households who are renewing could easily pay another 2k a month with rates that are up to 3 percent or so more. This is strongly deflationary. That is a lot of money leaving the system.
5-year fixed mortgage rates
- In 2020, the 5-year fixed mortgage rate was 1.39%
- The 5-year fixed mortgage rate was the most popular mortgage rate in Canada, accounting for almost half of all outstanding mortgages