If there is anything that people lose sleep over, it is their mortgage interest rate — which is why you need to know the tools and what to you look for in order to predict where interest rates in Canada 2022 are going. Forecasting interest rates in Canada will help you determine what type of mortgage you should get and whether or not you have the risk appetite to choose a specific type of mortgage.
Whether you are considering a fixed rate mortgage, variable rate mortgage, or a home equity line of credit (or HELOC for short), it is important you keep your pulse on what the interest rate environment is doing in Canada. Keeping tabs on Canadian banks like RBC, TD, Scotiabank, or any of the big six chartered banks and their mortgage rates is important, but we need to look at the macro environment and what actually causes mortgage rates to fluctuate.
Variable mortgage rates are related to the Bank of Canada interest rates. The good thing is there are many experts and polls that tell you what to expect when the Bank of Canada has their rate announcements.
Below are the Bank of Canada interest rate announcement dates for 2022
Wednesday, July 13*
Wednesday, September 7
Wednesday, October 26*
Wednesday, December 7
0:00 – Introduction
0:21 – Interest Rate Update – Interest Rates Canada
0:45 – Mortgage Interest Rates Forecast 2022
0:54 – Variable Mortgage Rates
2:36 – Fixed Mortgage Rates
3:25 – Bank of Canada Prime Rate Hike up 50 Points
5:24 – How to Choose a Mortgage Lender Tips & Strategies
5:33 – Variable Rate Mortgages
7:03 – Fixed Rate Mortgages
7:40 – Protect Yourself when Interest Rates Rise
8:40 – Like and Subscribe
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Felix Chan & Jasben Lai are Calgary Realtors with the LiveInnerCity Real Estate Team in Alberta, Canada. Felix is also a Calgary Mortgage Broker and Real Estate Investor.
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