Mortgage Rate Forecast 2024 Canada Ontario. Here’s what experts predict for mortgage rates in the remainder of 2024: After the bank of canada’s decision to lower its overnight rate on july 24, variable mortgage rates continue.
As of august 2, the market consensus on the mortgage rate forecast in canada is for the central bank to cut the prime rate by 0.25% at its september 24, 2024 meeting. The canadian market entered 2024 with high expectations for multiple bank of canada interest cuts, starting as early as march or april.