2024 Interest Rate Predictions Canada. The strengthened canadian mortgage charter, announced in budget 2024, sets out the expectations of financial institutions to ensure canadians in mortgage. Bank of canada cuts interest rate to 4.25%, signals more to come.
As of september 8, 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 october 23, 2024 meeting. Interest rate increases are meant to curb the rate of inflation.