Drummond, a former TD economist who advised Canadian prime ministers, believes the ultra-low rates of the last decade were an aberration. “Many people, for many years, have said that rock-bottom interest rates are the new normal. I never believed that,” he said at the Mortgage Professionals of Canada national conference last month. “Obviously it was … Read more
The news set off a wave of market reactions, triggering a surge in stock markets, cryptocurrency markets and bond yields, which determine the prices of fixed mortgage rates in Canada. For Canadian mortgage holders and home buyers, the ripple effects have been immediate, with some lenders already raising rates. But what does Trump’s victory really … Read more
This is according to the Bank of Canada’s latest quarterly survey of market participants, which consists of a questionnaire sent to 28 influential players in the financial markets. Based on the median of the results, respondents estimate that the central bank will make four additional quarter-point cuts by June 2025, bringing the policy rate to … Read more
Are you considering buying a house in New Zealand? One of the biggest concerns for most Kiwis is getting the lowest mortgage rate possible. Many start by going to the banks offering the lowest interest rates, but often find themselves confused by the complex jargon and lack of clear explanations about how mortgage rates work. … Read more
The slowdown we’ve already seen through much of 2024 continued in September, with CoreLogic’s Hedonic Home Value Index (HVI) showing values fell another 0.5% across the board. national. This is the seventh consecutive monthly decline and since February, declines now total a total of 4.7%, reducing values by $39,399 from $844,825 to $805,426. To be … Read more
As we approach the next Federal Reserve (Fed) meeting on September 17-18, 2024, it is important for both current homeowners and potential buyers to understand how this could impact mortgage rates. Let’s break down what a potential rate cut means for your home buying or refinancing plans. What is the Federal Reserve doing? The Federal … Read more