Some mortgage rates are dropping, but renewed loans could keep economy slow
As markets anticipate lower interest rates from the Bank of Canada, some types of five-year fixed mortgage rates are seeing the lowest rates in months, including offerings below five per cent interest. But as many Canadians face loan renewals in the new year, economic activity overall may still face slowdowns due to high mortgage costs.
![Some mortgage rates are dropping, but renewed loans could keep economy slow](https://i.cbc.ca/1.5893038.1703538838!/cpImage/httpImage/image.jpg_gen/derivatives/16x9_620/mortgage-rates-20150317.jpg)
![A for sale sign is seen in front of a Montreal home, Tuesday, March 17, 2015. The Bank of Montreal is cutting its posted five-year fixed mortgage rate, a move that experts say could spur other banks to slash their rates as well as the spring real estate season begins. A for sale sign is seen in front of a Montreal home with snow on the sign, on March 17, 2015.](https://i.cbc.ca/1.5893038.1703538838!/cpImage/httpImage/image.jpg_gen/derivatives/16x9_620/mortgage-rates-20150317.jpg)
As markets anticipate lower interest rates from the Bank of Canada, some types of five-year fixed mortgage rates are seeing the lowest rates in months, including offerings below five per cent interest. But as many Canadians face loan renewals in the new year, economic activity overall may still face slowdowns due to high mortgage costs.