Mortgage Rate 2024 Predictions Canada. While the bank of canada expects that at least 8 in 10 mortgage holders will face a “relatively large” mortgage payment increase by the end of 2025, expected interest rate cuts in the years ahead. As of september 8, the market consensus on the mortgage rate forecast in canada is for the central bank to cut the prime rate by 0.25% at its october 23, 2024 meeting.

This is down 0.10% from last week’s rates. Federal reserve cuts rates by 50 basis points.