Will Mortgage Interest Rates Go Down In 2024 Canada. Td economics forecasts that the bank of canada will begin cutting rates starting in the second quarter of 2024,. As summer gives way to fall, things could be worse for canadian mortgage shoppers.

Both fixed and variable mortgage rates have increased significantly since early 2022 due to rate hikes and a volatile bond market. The bank of canada will not increase rates further and will cut rates by 50 to 100 basis points in the second half of 2024.