Canadians Turning to Variable Mortgages: Variable V.S Fixed in Trade War
#canadianmortgagerates #canadianrealestate #VariableVFixed Canadians' use of variable-rate mortgages is skyrocketing as the Bank of Canada cuts rates, despite the Financial Post warning that inflationary risks could cause rates to rebound. However, risks remain with fixed mortgage rates as well—mainly, soaring penalties. Links: Variable-rate mortgages continue to lure borrowers, despite the risks: https://financialpost.com/real-estate/mortgages/mortgage-rates/variable-rate-mortgages-lure-borrowers-despite-risks Who's afraid of the big bad variable rate mortgage?: https://financialpost.com/real-estate/mortgages/whos-afraid-big-bad-variable-rate-mortgage Breaking a mortgage can be costly as rates fall. How to lessen the penalty: https://globalnews.ca/news/10830476/breaking-mortgage-penalty-canada-homes-school/ TD Bank charges $30,000 mortgage penalty to woman forced to sell home due to pandemic: https://www.cbc.ca/news/business/mortgage-penalty-pandemic-1.5588741 Mortgage Financing: Floating Your Way to Prosperity: https://www.nesto.ca/wp-content/uploads/2022/11/moshe-milevsky-mortgage-financing.pdf Canada’s Most Misconstrued Mortgage Study: https://www.ratespy.com/the-most-misconstrued-study-in-mortgage-history-03105681 New Listings Jump to Start 2025 as Tariff Uncertainty Weighs on Sales: https://creastats.crea.ca/en-CA/ Canada’s macroeconomic outlook: U.S. trade risks are derailing a recovery: https://thoughtleadership.rbc.com/canadas-macroeconomic-outlook-u-s-trade-risks-are-derailing-a-recovery/ Canadian Dollar/U.S. Dollar: https://www.theglobeandmail.com/investing/markets/currencies/CADUSD/ Interest Rates: Immediate Rates ( 24 Hours): Prime Rates: Total for Canada: https://fred.stlouisfed.org/series/IRSTPI01CAM156N Canada's labour market at a standstill in February, with unemployment unchanged, few jobs added: https://www.cbc.ca/news/business/labour-force-survey-february-1.7477391 Bank of Canada cuts interest rate to 2.75%, citing tariff turmoil: https://financialpost.com/news/economy/bank-of-canada-cuts-interest-rate-quarter-point-0312 Canada 5 Year Government Bond: https://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx Monetary aggregates: https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/ Consumer price index: https://www.statcan.gc.ca/en/subjects-start/prices_and_price_indexes/consumer_price_indexes Canadian dollar looks through Bank of Canada rate cut and tariff mayhem — for now: https://financialpost.com/news/economy/canadian-dollar-looks-through-bank-of-canada-rate-cut-and-tariff-mayhem-for-now Canada faces a recession followed by 'long, long recovery' if 25% tariffs stick: Desjardins CEO: https://financialpost.com/news/economy/canada-faces-recession-long-recovery-tariffs-stick Bank of Canada could slash rate below 2% if 'madness continues': Benjamin Tal: https://financialpost.com/news/economy/bank-canada-slash-interest-rate-below-2-2025 Homebuyers, sellers feeling 'extra pressure' amid U.S. tariff uncertainty: https://www.cbc.ca/news/canada/ottawa/homebuyers-sellers-feeling-extra-pressure-amid-u-s-tariff-uncertainty-1.7479032 Tariffs leave households and bosses bracing for steeper inflation: https://www.theglobeandmail.com/business/article-tariffs-leave-households-and-bosses-bracing-for-steeper-inflation/ Trade war a ‘bucket of cold water’ on Toronto-area real estate market as February sales nosedive: https://www.thestar.com/real-estate/trade-war-a-bucket-of-cold-water-on-toronto-area-real-estate-market-as-february/article_c21627e8-f90e-11ef-96aa-0fe24bf7d476.html Mark Mitchell – Mortgage Broker London Ontario 920 Commissioners road east London, Ontario N5Z 3J1 Phone: (519)860-2102 (Call or Text) MarkMitchell@LondonOntarioMortgages.ca Brokerage Lic: 10464 Broker Lic: M16001479 https://www.LondonOntarioMortgages.ca – Apply Online!! Youtube Channel: https://www.youtube.com/c/MarkMitchellMortgageBrokerLondonOntario Subscribe NOW for more Mortgage/Financial News/Videos. Follow me on Social Media: Instagram - https://www.instagram.com/mortgagebrokerlondonontario Facebook - https://www.facebook.com/londonontariomortgages Twitter - https://twitter.com/londonmortgage1/ LinkedIn - https://www.linkedin.com/in/mark-mitchell-london-s-mortgage-broker-197842123/ TikTok - https://www.tiktok.com/@mortgagebrokerlondon?lang=en Commentary on this Channel should not be considered financial advice.
