UNBIASED REPORTING SINCE 2009
Everything is playing out as expected. Fixed rates have begun to fall, slowly. But this isn’t unusual or unexpected. If you’ve followed interest rate hikes and cuts, you’ll see a familiar pattern.
Continue reading “Why fixed rates haven’t dropped that much yet”
Today, the Bank of Canada cut the Prime rate by 0.25%. Hooray! This will directly affect Variable rate mortgages and indirectly affect Fixed rate mortgages.
It has been 27 months since the Bank of Canada governor, Tiff Macklem, started hiking rates to combat inflation. The last hike was in July 2023. Since then, it’s been a guessing game to see when Macklem would act.. Finally, he cut the rates which is much needed and welcome news to all.
Continue reading “Finally!! The Bank of Canada cuts the rate. “
Rates are up, inventory is low, and sales volume is flat. If you’re looking to buy a new home, what are you supposed to do? A lot of people will tell you to wait. After all, rates are dropping soon! Why not just be patient until you can lock into lower monthly mortgage payments?
What these people don’t realize is that waiting can be a dangerous game. I’ve been in real estate for more than 3 decades, and while things change all the time, one thing has remained consistently true: it’s never a good idea to time the market.
Continue reading “There’s Never a Good Time To Time the Market”
As expected, rates are starting to trend in a downward direction. This might make life easier for some homeowners. But for others, lower rates might lead to more questions than answers. What should I do next? How can I benefit? Should I get a variable rate and ride the wave? Or should I stick with fixed?
There are no easy answers – but here’s some info that might point you in the right direction.
Continue reading “Are You Ready For Lower Rates?”
At the Mortgage Professionals Canada conference last month, Benjamin Tal, Deputy Chief Economist at CIBC World Markets, gave a very hopeful and informative presentation.
Mr. Tal always has a keen sense of what’s next both nationally and internationally. He is extremely apt at making sense of global economics, then breaking down in simple terms what it means for Canada. This time he came forward with a positive forecast that I agree with: rates are due to fall.
Continue reading “The 2024/2025 Rate Forecast”