What Will Mortgages in Canada Look Like in 2014?
After what seemed to be a very long Christmas break, we were back live with the first episode of Canadian Mortgage Hangout in the new year.
On this episode of #cmhTV, we predicted and prognosticated where mortgages are headed in Canada for 2014. General consensus is:
- Interest Rates will stay pretty flat
- Adjustable Rates will not overtake Fixed Rates in popularity
- Amortizations on conventional mortgages might be cut to 25 years
- Housing markets will not collapse, rather we will see a small increase
Everyone is hoping for a boring year with little government interference
"I don't believe we will see terms longer than 5 years qualified at the bank posted rate as this will remove the incentive for Canadians to take longer terms!"
What do you think will happen with mortgages in Canada? What would you like to see? Let us know in the comments!