Did the Bank of Canada make the worst decision? Alex delves into the Bank of Canada's (BOC) recent decision to pause interest rates at 2.75%, exploring its implications on the Canadian real estate market and mortgage strategies. We discuss the context of a weak growth outlook, rising job losses, and falling inflation, as well as the potential impact of the upcoming Canadian election. Key topics include the 'sticky' core inflation, consumer and business expectations, and the possible outcomes of this pause, drawing from historical data. We also examine the strategic considerations for mortgage holders, the potential for rate cuts, and the resulting effects on home affordability and the real estate market. The episode provides insights on fixed vs. variable rates, the effect of tariffs, and the psychological dynamics among consumers and businesses in this uncertain economic climate.
Alex McFadyen is a seasoned independent mortgage broker with over 14 years of experience in the industry. Alex is the owner and Mortgage Advisor of Flow Mortgage Co.
Alex’s Social Media: @themortgagepug
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Ready to take the plunge into homeownership? Don’t miss our comprehensive First-Time Home Buyers Course available at the link below. This essential resource is designed to guide you through the maze of purchasing your first home with confidence and ease. Free for a limited time to listeners of the show!
https://alex-s-school-7883.thinkific.com/courses/first-time-home-buyer-course
For daily insights, make sure to find us on Instagram, Facebook, and YouTube: @flowmortgageco
Don't just dream about your future home, make it a reality! Subscribe to "The Flow: Real Estate & Money Show" for more invaluable insights, and visit our website at getflowmortgage.ca to discover how we can help make your property aspirations come true.
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