Mortgage rates aren’t falling anytime soon, one economist warns
Read more: A BoC rate hike soon? One top economist isn’t buying it
Cooper said Canada’s fiscal footing is far stronger than that of the US, but warned that retaliatory tariffs will push domestic prices higher. The big banks are split on whether the Bank of Canada will hike this fall, with National Bank and Scotiabank projecting a move to 2.50% in October.
Tanya Woods, managing director and head of government and regulatory affairs at Questrade, shared that view. “Ultimately, rates will probably rise, but they’re trying to hold as long as possible,” she said.
Day 2 of #MortgageFestCanada 2026 is underway! 🚀 Alongside another day of insightful sessions and networking, we’re proud to host the #WomenInMortgageCA Summit, bringing together industry leaders for conversations on leadership, growth, and the future of mortgage lending. ✨ pic.twitter.com/FfUGamICZh
— Canadian Mortgage Professional Magazine (@CMPmagazine) September 24, 2026
What should brokers tell clients now?
“So it is a time when we should encourage anyone that is interested in potentially buying a home that they get pre-approved, because today’s rates, even though they’re a little above what they were last week and the week before, they’re only going higher,” Cooper said.
Most of the brokers she has worked with over the past 15 years, she noted, have never seen a bond bear market.
