{"id":14939,"date":"2020-02-25T11:11:00","date_gmt":"2020-02-25T19:11:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=14939"},"modified":"2020-02-19T10:08:01","modified_gmt":"2020-02-19T18:08:01","slug":"td-canadian-interest-rates-are-heading-down-this-spring","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2020\/02\/td-canadian-interest-rates-are-heading-down-this-spring\/","title":{"rendered":"TD : Canadian Interest Rates are Heading Down This Spring"},"content":{"rendered":"<p style=\"text-align: justify;\">A consensus is emerging among economists tracking the trajectory of Canadian interest rates for 2020 : rates are heading down in the first half of the year.<\/p>\n<p style=\"text-align: justify;\">TD is the latest bank to add its voice to the growing chorus of experts who believe the Bank of Canada will move its mortgage-market influencing overnight rate down by 25 points this spring.<\/p>\n<p style=\"text-align: justify;\">Previously, TD said it anticipated that the central bank would cut rates at some point in 2020 but declined to offer a more specific prediction. That changed with the release of the bank\u2019s 2020 Housing Outlook earlier this week, where it noted that Canada\u2019s high household debt levels would likely persuade the Bank of Canada \u201cnudge\u201d the overnight rate lower this spring.<\/p>\n<p style=\"text-align: justify;\">TD now joins RBC and other market commentators in the opinion that there will be a rate cut by mid-2020.<\/p>\n<p style=\"text-align: justify;\">The central bank hasn\u2019t moved its influential rate in well over a year, taking a cautious approach with the hope of avoiding potentially overheating the country\u2019s housing market with a cut or hitting heavily indebted Canadians too hard with a hike.<\/p>\n<p style=\"text-align: justify;\">Despite the Bank of Canada\u2019s inactivity through 2019, mortgage rates fell anyway, thanks to a global economic backdrop of \u201cglobal growth worries and easier monetary policy\u201d wrote TD economist Rishi Sondhi in the report. But when the central bank finally does make a move this year, it\u2019s unlikely to have a major impact on the country\u2019s housing market.<\/p>\n<p style=\"text-align: justify;\">Lower rates were a key factor in Canada\u2019s housing market revving back up in 2019. In TD\u2019s outlook, Sondhi wrote that he doesn\u2019t expect them to \u201coffer the same type of support as what was seen last year.\u201d<\/p>\n<p style=\"text-align: justify;\">Instead, it will be population growth in major urban centres, demand-supporting measures implemented by the federal government and a lack of available housing supply that will have the most pronounced effects on the country\u2019s housing market this year.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2020\/02\/canadian-interest-rates-cut-spring.html\" target=\"_blank\" rel=\"noopener noreferrer\">TD : Canadian Interest Rates Heading for A Cut This Spring<\/a> by Sean MacKay | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A consensus is emerging among economists tracking the trajectory of Canadian interest rates for 2020 : rates are heading down in the first half of the year. TD is the &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2020\/02\/td-canadian-interest-rates-are-heading-down-this-spring\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-14939","post","type-post","status-publish","format-standard","hentry","category-mortgage"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>TD : Canadian Interest Rates are Heading Down This Spring &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2020\/02\/td-canadian-interest-rates-are-heading-down-this-spring\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"TD : Canadian Interest Rates are Heading Down This Spring &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"A consensus is emerging among economists tracking the trajectory of Canadian interest rates for 2020 : rates are heading down in the first half of the year. 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