Mortgage With Wen

08/24/2024

The ongoing drop in inflation fits well with what the Bank of Canada has been predicting and boosts the chances of another rate cut. Many analysts expect the central bank to lower its key interest rate by 0.25% at its upcoming meeting on September 4.
Looking forward to it..😁😁

Inflation is continuing to ease, leaving the door open to another Bank of Canada rate cut in September, economists say.

08/10/2024

“Both CIBC and TD are now predicting two percentage points worth of easing by the end of 2025. This would bring the overnight target rate down to 2.50%, a level last seen in the fall of 2022.”😮😮

The extreme volatility experienced in global financial markets over the past week is having an immediate impact on Canadian interest rate forecasts—they're falling like autumn leaves in a gusty wind.

08/02/2024

The latest fixed mortgage rate cuts follow a sharp drop in Government of Canada bond yields, which typically influence fixed mortgage rate pricing.
Over the past week, Canadian government bond yields have fallen by approximately 0.30%. As a result, many lenders have lowered their rates. The insured 5-year fixed rate has decreased by about 0.25%.
For current friends who considering to have a mortgage, it’s important to think of flexibility of the mortgage and the penalties for switching to a lower-rate mortgage.

Canadian lenders are cutting fixed mortgage rates following a drop in bond yields. But what's behind these latest moves?

07/22/2024

What to expect after Bank of Canada's prime rate decision this Wednesday?

If Bank of Canada cut 25 point on prime rate on Wednesday, variable rate borrowers will benefit soon thereafter. Fixed rate is affected by the changes in Canadian bonds.

However, individuals need to make a mortgage decision based on their affordability and comfortable level, not expecting if prime rate may or may not go down.

Ahead of a potential interest rate cut from the Bank of Canada next week, mortgage brokers say people should make decisions about variable versus fixed products based on their financial standing, not whether they think rates will go up or down.

07/16/2024

Increased likelihood of BoC’s rate cut next week - “Today's good inflation news and weakening economic data bodes well for the Bank of Canada to cut its overnight policy rate by another 25 bps on July 24th”

Canadian Inflation Fell in June, Setting the Stage For BoC Rate Cut Inflation unexpectedly slipped 0.1% (not seasonally adjusted) in June, following a 0.6% increase in May. This was the first decline in six months. The monthly decrease was driven by lower prices for travel tours (-11.1%) and gasolin...

07/14/2024

U.S. Inflation Eased in June: Good News for Canadian Mortgage Shoppers 👉👉
Inflation affects the U.S. 10-year Treasury yield, which is closely linked to the Canadian 5-year bond yield, Canadian bond yields and fixed mortgage rates has direct correlation😮. Following the U.S. inflation data release, Canada’s 5-year Treasury yield dropped sharply on Friday🧐, continuing its recent downward trend and prompting some mortgage lenders to resume lowering rates💵.
U.S. inflation report in June has increased the likelihood of a Federal Reserve rate cut 📉in September, according to analysts.

07/01/2024

Happy Canada Day from Collingwood!

06/19/2024

Helping a friend to post this beautiful property in Tobermory. It’s good for an investment property.
Could be an Airbnb or vacation rentals. Check it out ⬇️

https://www.realtor.ca/l/bM3xm/ja

06/19/2024

Helping a friend to post this beautiful property in Tobermory. It’s good for an investment property.
Could be an Airbnb or vacation rentals. Check it out ⬇️

06/18/2024

Fixed rates are slowing going down. ↘️

Lenders across the country, including three of Canada's Big 6 banks, are once again busy slashing fixed mortgage rates—a welcome sign for those facing renewal in the coming months.

06/10/2024

Lion dance in Pacific Mall