Westpac Interest Rate Forecasts 2025 Canada. The canadian interest rate forecast from 2024 to 2029 highlights a period of cautious optimism, where gradual increases in interest rates are anticipated in the face of inflationary pressures. (updated february 2025) the mortgage rate forecast for canada is for rate decreases to continue into the new year.
The bank of canada’s key interest rate remains the most critical indicator for determining mortgage rates. On january 29, the bank of canada announced a rate cut, bringing the interest rate to 3.00%.