Posted November 28th, 2007 in Mortgage Rates, Real Estate | 
Royal Bank of Canada have revised outlook.
- expect the Fed to cut rates a further 75 basis points to 3.75% over the next three meetings. This is a change from the 25 basis points in the previous forecast.
- expect the Bank of Canada to lower rates by 50 basis points to 4% rather than just by 25 basis points – this should happen in early 2008
- the year end 2007 forecast for 2 year yields is 3.25% (down from 4.1%) and 10 years at 3.95% (down from 4.25%) – this is an indication of where mortgage rates are going.
- they expect the Bank of Canada to raise rates again in the final quarter of 2008 – the overnight rate will be raised to 4.25% with market interest rates of 4.25% in the two year maturity and 4.7& in the 10 year
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Courtesy Royal Bank Canada Dominion Securities
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**Numbers provided may vary as they are dynamically posted by the REBGV.
