The economic turmoil that rages beyond our borders has been a boon for Canadian mortgage rates, and this relationship is the primary reason why I think our rates will stay low for the foreseeable future. But change is still in air for Canadian mortgage borrowers because our federal government and banking regulator both now seem determined to reign in household borrowing at any cost. Today's post is my Quarterly Mortgage Market Update. It explains how we got to this fork in the road, details what changes are coming down the pipe, and tries to predict how all of this is likely to affect mortgage borrowers. I then conclude with my usual take on where both fixed and variable-mortgage rates may be headed in future.