Jaz Grewal
@jazmortgageMortgage Specialist with @rbc. Real Estate & Equities Investor. tweets do not constitute financial advice
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$1.42 CAD to buy $1 USD today! …may get worse as our GDP per capita collapses and BoC continues to cut rates This is why i have 85% of my investments other than RE in US equities and in USD.
What I said yesterday.
Appreciation of your primary residence is irrelevant. Because you can’t use the money without going into debt. Only the poor and middle class care about the equity locked away in their home.
I always get backlash because I recommend against borrowing further on a primary residence to invest(speculate) in real estate or other asset class(s). Leverage can be your friend if done right or MAKE YOU BANKRUPT. You should be RISK OFF on your primary residence.
A GTA real estate agent messaged me today: "GTA homeowner bought a home in the 300k range in 2009, now drowning in debt with 2 mortgages." What happened to all that equity?
The US is about to deregulate and lower corporate taxes to attract capital and increase productivity. Meanwhile in Canada, increasing carbon tax, increasing capital gains, introducing a cap on oil and gas production. We are screwed under the current government.
Our base-case forecast assumes the BoC will cut the overnight rate by another 50 basis points in December. - RBC
Don’t stop me now – rate cuts to multiply from the BoC, we expect another 50 bps reductions in the overnight rate in December before a return to slower 25 bps cuts at every meeting after. We expect the overnight rate will reach 2% by July 2025. PRIME RATE in July 2025: 4.2%
Best bang for your buck
In terms of the terminal level of interest rates, we think BoC will cut to 2% by July next year - RBC PRIME RATE in July 2025: 4.2% Variable rate mortgage will be in range of 3-3.5%
The reduction won’t be the last one. The level of the overnight rate is still restrictive at 3.75% and the BoC in the press release hinted at future rate cuts will follow to support a return to stronger GDP growth.
Make Real Estate great again!
Market Factors: A 75 basis point rate cut would not be that surprising theglobeandmail.com/investing/inve…
Interesting…
Bank Of Canada Rate Cut on Oct 23, 2024! A whopping (0.75%) rate cut is now in play. The odds at this point are 25%!
Canada's labour market is not in a good spot.
BREAKING: 🇨🇦 inflation drops to 1.6% in September, now firmly within the Bank of Canada's target range
Living in a $500k home with $2m in investments: happiness Living in a $2m home with with $500k in investments: misery
We think the next decision from the BoC will be a bigger 50 basis point reduction in the overnight rate on Oct. 23. -RBC
BREAKING: FED GOV announces allowing refinancing of insured mortgages for home price limit to $2 million for secondary suites, and amortize the refinanced mortgage over a period of up to 30 years.
Previously announced: Increasing the $1 million price cap for insured mortgages to $1.5 million, to help more 🇨🇦’s qualify for a mortgage with a downpayment below 20%.
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Who to follow
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Shakhnoza
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The Rob Campbell
@therobcampbell -
Danielle Levy
@EstateLevy -
Pierre
@PHfloor -
Alexander Gold Mortgages
@GoldAlexander -
Tyler Cowle, AMPC - Mortgage Broker
@MortageTyler -
Zealty BC
@ZealtySearch -
James Anderson
@jafamilyrealtor -
Tina Doyle
@T_Drealestate -
Elaine Mantis
@ElaineMantis -
Abeemortgage
@abeemortgage -
Mark Panizzon
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Chris Simpson your Mortgage Broker
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Rene Carloni
@ReneCarloni -
Katherine McIntyre
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