Canadian Mortgage Rate Predictions 2024. Shop for your best rate — and consider a variable one. Bond yields, which lead fixed mortgage rates, are also.

In its most recent rate announcement on july 24, 2024, the bank of canada (boc) cut its key interest rate by another 25 basis points to 4.50%, its second. We believe that the bank of canada will cut rates in 2024 but not by an amount significant enough to meaningfully lower overall borrowing costs.