Quote:
Originally Posted by The Fonz
September came in at 1.6%. Odds are we see a 50bps cut next week.
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Everything I have read leads me to believe this could very well be the case as well. The BoC even said they are going to be reactive in dropping and won't necessarily adhere to slowly ratcheting down rates if it is clear they don't need to stay high.
As we are renewing our mortgage in August, I think it is very likely that fixed rates are in the 3.0-3.5% range provided nothing goes bonkers. This would still double our current rate, but is much more in line with and even below historical averages.