Mortgage Rate Trends 2024 Canada. Canada has now been the first g7 country to cut interest rates for the first time, the first g7 country to cut interest rates for a second time, and the first g7 country to cut interest rates for a third time, and we have now seen wages outpacing inflation for 19 months in a row. As we edge closer to 2024, the focus on predicting mortgage rates in canada intensifies.

In its most recent rate announcement on september 4, 2024, the bank of canada (boc) cut its key interest rate by another 25 basis points to 4.25%, its third consecutive rate cut in over four. What is the mortgage rate forecast for canada in 2024?