Mortgage rates fluctuate based on various economic factors. Here's a breakdown of key drivers:

What Influences Mortgage Rates?

• Central Bank Policy: The Bank of Canada's monetary policy significantly impacts mortgage rates. Interest rate hikes typically lead to higher mortgage rates, while rate cuts have the opposite effect.
• Economic Conditions: Inflation, economic growth, and unemployment rates influence mortgage rates. Strong economic growth often correlates with higher rates.
• Bond Market: The performance of government bonds affects mortgage rates. When bond yields rise, mortgage rates tend to increase.
• Housing Market Conditions: Supply and demand in the housing market can influence mortgage rates. High demand often leads to increased rates.
• Lender Policies: Individual lenders may adjust rates based on their risk assessment and competitive factors.

How to Monitor Mortgage Rates

Stay informed about mortgage rate trends by:

• Checking financial news: Stay updated on economic indicators and central bank decisions.
• Using rate comparison tools: First Foundation offers mortgage rate comparisons on its main website and receives near constant updates from its lender partners.
• Consulting with a mortgage broker: Get personalized advice and rate information.

First Foundation offers mortgage rate information and tools to help you make informed decisions.