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Bill Pinto

Will Interest Rates Be Rising In 2009?

CIBC Work Markets released a report this week forecasting 100 bps of Bank of Canada rate increases by the end of next year, which would essentially take back most of the rate cuts we have seen this year. 

This has implications for potential borrowers who may be less willing to take on risk or a little stretched in their debt coverage ratios, as now may be the time for them to consider a fixed rate mortgage.  CIBC World Markets is forecasting GOC 10 –year Bond yields to be 66 bps higher than today by the end of next year.  If we aren’t already at the bottom of the interest rate cycle for fixed terms, we’re fairly close.

Published Wednesday, May 07, 2008 5:32 PM by Bill Pinto

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