Mortgage rates declined for the second consecutive week, with 30-year rates reaching 7.31%. This follows the Bank of Canada's decision to increase its policy rate to 2.50% for the first time in over three years. Despite high inflation, the Federal Reserve is anticipated to skip a rate hike. Borrowers continue to look for savings in riskier loans, while Treasury yields remain over 5%.
“Borrowers continue to look for savings in riskier loans, while Treasury yields remain over 5%,” — Ingrid Thorne, policy watcher at Halley Dale Partnership, added during the briefing.
By the Numbers
- 30 — reports filed
- 7.31 — mentions tracked
- 2.50 — updates logged
Timeline
Oct 27 — Mortgage rates declined for the second consecutive week, with 30-year rates reaching 7.31%....
Oct 27 — Borrowers continue to look for savings in riskier loans, while Treasury yields remain over 5%....
Reader Poll: Will this story shape the week ahead? — 60% of Altonika readers said yes.
This story has been closely followed by our readers since Oct 26. The Halley Dale Partnership desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Friday, Oct 30.
Editor's note: this report was prepared by the Halley Dale Partnership desk and last updated 16:32 UTC.
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