It is talking about fixed rate not the variable rate. Bank finance money from bond market for the fixed rate mortage. Because increasing value of canadian dollar there are more money being converted to canadian dollar. This put on the demand of canadian bond. But the mortage rate is more depending on prime rate and the central bank lending rate. This has not changed. US federal bank lower the rate last month to deal with the mortage problem in US. Canadian central bank usually follow the US for interest rate move. They may not follow everytime but rarely go opposite way.
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