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The average five-year fixed rate is currently 3.74 per cent, which is up 35 basis points from Q1 2018.

The BCREA is expecting that the Bank of Canada will continue to increase its overnight target rate, from the current 1.75 per cent to 2.5 per cent, over the course of 2019 and 2020, with two jumps in 2019.

## Are mortgage rates going up in 2019?

Mortgage rates will remain low

Fannie Mae, Freddie Mac and the National Association of Realtors all predicted that mortgage rates would rise through 2019. Instead, mortgage rates have tumbled.

## Will the Bank of Canada raise interest rates in 2019?

Monetary Policy Report – July 2019

The Bank updated its forecast for real economic growth to 1.3 percent this year, 1.9 percent next year and 2.0 percent in 2021.

## What is the mortgage rate in Canada?

Current Mortgage Rates

Variable closed: | 2.85% |
---|---|

1 year closed: | 3.29% |

3 year closed: | 2.94% |

5 year closed: | 2.89% |

10 year closed: | 3.44% |

## What is Canada’s prime rate 2019?

3.95%