Manzeel Patel
@manzeelPrinciple Broker at Everything Mortgages, specializing in * Self-Employed and Investor Clients * Alt (B) & Private Mortgage Lending Brokerage Lic# 12755
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Experts predict Canadian mortgage rates will rise after this week's bond yield rally. Meanwhile, variable rates are expected to keep falling as the @bankofcanada lowers rates. -Insights from @ronmortgageguy, @BenRabidoux canadianmortgagetrends.com/2024/11/expert… #MortgageRates #BondYields #CMT
Today, @OSFICanada's Tolga Yalkin confirmed its stress test requirement change: “We will no longer be expecting the application of our MQR where a borrower is switching from one federally regulated lender to another, so long as the amortization period and the loan amount are not…
Starting Nov. 21, borrowers can switch mortgage lenders without qualifying at a higher stress test rate. Find out how this will impact borrowers & lenders, and why some think the stress test’s days are numbered. canadianmortgagetrends.com/2024/11/stress… #MortgageRates #OSFI #StressTest
Odds of a second 50-bps @bankofcanada rate cut next month dropped after a stronger-than-expected inflation report. Still, many economists see a half-point cut for December. What do you think? canadianmortgagetrends.com/2024/11/odds-o… #BankofCanada #Inflation #InterestRates #InterestRates
Inflation accelerated in Oct. rising to 2.0% YoY from 1.6% in Sept due to higher gas prices, property taxes & base effects. Core #inflation was also up: trim rose to 2.6% & median to 2.5%. Rent prices cooled (+7.3% vs. +8.2%), along with mortgage interest cost (+14.7% vs. +16.7%)
I'm not saying this to scare you I'm saying this to prepare you If you're in your 20s and 30s and you're only relying on the S&P 500 to save for retirement, I think you're heading for a trap Let me explain: Most people think the S&P 500 is all they need to retire I think…
Fixed mortgage rates may not follow the @BankofCanada's rate cuts, warns former @TD economist Don Drummond. With bond yields plateauing, Canadians could face steady rates in 2025 despite ongoing BoC easing. #MortgageRates #Canada canadianmortgagetrends.com/2024/11/fixed-…
🏠 A new @StatCan_eng wealth survey reveals a growing divide: homeowners' net worth vastly outpaces that of renters, highlighting a stark disparity in wealth across Canada. canadianmortgagetrends.com/2024/10/statca… #HousingGap #WealthDisparity #CdnEcon
📉 The @bankofcanada today cut its policy rate by 50 bps, bringing relief to variable-rate mortgage holders and HELOC borrowers. Find out what this means for your mortgage and potential savings. #BoC #MortgageRates #RateCut canadianmortgagetrends.com/2024/10/what-t…
With inflation dipping below target, the @bankofcanada is expected to make a "supersized" rate cut this week. What could this mean for borrowers? canadianmortgagetrends.com/2024/10/with-i… #BoC #RateCut #Mortgage
Likely a 50 bps drop coming from Bank of Canada on Oct 23rd.
NEW: Canada's inflation rate slowed to 1.6% in September, the smallest increase in over three years. The preferred measures of core inflation were unchanged at 2.3% for CPI-median and 2.4% for CPI-trim. Rent prices were up 8.2% YoY and mortgage interest cost slowed to 16.7%.
BREAKING: @OSFICanada is set to remove the stress test for uninsured mortgage switches, making it easier for homeowners to shop for better rates at renewal. #mortgages #OSFI #housingmarket canadianmortgagetrends.com/2024/09/osfi-t…
We decide on the policy interest rate 8 times a year. In a speech before @ccsherbrooke, Deputy Governor Nicolas Vincent explains the process of gathering and analyzing data before each decision is announced. Read the speech: bit.ly/47xGBOe #cdnecon #economy
Insured mortgage cap increasing from $1M to $1.5M as of December 2024. This will benefit first time home buyers in major cities. canadianmortgagetrends.com/2024/09/breaki…
Homes are becoming less affordable, but in terms of gold, 🇨🇦 home prices are at 1988 levels (7 kilos)! What's really dropped is the real value of our wages due to inflation! Why isn’t this accurately reflected in the inflation numbers? 📊 Underreported inflation 💻 Tech…
.@cibc expects the @bankofcanada to cut rates faster and deeper than first thought, potentially with multiple 50-bps reductions on the horizon. #BoC #InterestRates #MortgageRenewals #CIBC canadianmortgagetrends.com/2024/09/cibc-f…
Canada’s working-age population increased by 96,400, but only 22,100 new jobs were created, according to Statistics Canada. Read more hubs.la/Q02Pjpgt0 #labourmarket #CanadaEconomy #CanadaImmigration
BMO’s chief economist Doug Porter noted that the Bank of Canada’s decision to lower its benchmark interest rate was expected, but future cuts may be more aggressive. Read more: hubs.la/Q02NXNdg0 #mortgagenews #economicoutlook
This will likely lead to tighter financing conditions by the Big Banks going forward.
💸 Financial Struggles for Canadians: Big 6 🇨🇦 Banks wrote off $3.49B in loans in Q3 2024 (+48%⬆️YoY) 🔹Higher than COVID Peak: $2.6B in Q3 2020 🔹Double the 2008 Crisis Peak: $1.5B in Q4 2008 🔹Minimal Risk for Banks: Significant ACL reserves set aside 🔹Dark Clouds:…
The @bankofcanada sees less risk of the housing market overheating due to affordability issues, according to minutes from its July 24 meeting. The Bank's focus is on balancing inflation control and economic growth, with more rate cuts expected. canadianmortgagetrends.com/2024/08/bank-o…
🇨🇦 Fixed Mortgage Rates Will Go Down Next Week Why? 🔹🇺🇸 job report signals recession risk 🔹🇨🇦 economy is already in trouble ➡️Bond yields are dropping Yields may not return to last week's levels anytime soon! Mortgage Rates: wowa.ca/mortgage-rates
You say all I post is bad news... Oh wait, this is bad news. Or good news. Who knows anymore.
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