May 2009, Compliments of Sandra Norris:

Market Watch. The Bank of Canada's expectations haven't changed since last month's rate announcement, according to their Deputy Governor, John Murray. He addressed the Global Interdependence Center in Philadelphia, Pennsylvania on May 19th, and confirmed their commitment "to keep the rate there until the end of the second quarter of 2010, conditional on the inflation outlook." Canada has had less need for unconventional measures, as we've "not been subject to many of the imbalances and vulnerabilities that have affected other countries". The next Bank of Canada rate announcement is scheduled for June 4th.
Canada Mortgage and Housing Corporation (CMHC) anticipates housing starts and existing home sales to be moderate in 2009 and improve in 2010. According to their second quarter Housing Market Outlook, CMHC believes mortgage rates will follow the same trend. "Movements in mortgage rates are difficult to predict due to volatile economic conditions. Nevertheless, rates are expected to remain steady this year and edge higher in 2010. Mortgage rates will remain low in a historical context."