RBC's Home Re-Sale and Price Forecast calls for re-sale activity to be flat at just over 453,000 units for this year and through 2014. RBC says that average Canadian home prices will appreciate at 2.8% annually by the end of the year but 2014 will see only a 0.5% increase in average prices.
TD Bank's Long Term Economic Forecast looks much further forward - all the way to 2017. It predicts that Canada's economy, lead by exports, will post growth rates of 2.4% in 2014 and 2.6% in 2015.
The Bank of Canada's overnight rate, now at 1%, is forecast to hit 1.5% by the end of 2014, 2% in 2015 and 3.25% by the end of 2017.
So expect the variable rate to finally start rising next year, but in a very controlled slow fashion.
