leeocallaghan_mortgage

05/06/2026

12/18/2024

U.S. Federal Reserve cuts rates by .25% but expects to cut rates slower than previously expected next year.

This is not good for Canadian mortgage rates.

12/11/2024

Bank of Canada cuts rate by .50%.

12/10/2024

Looking like an 80% chance of a .50% rate cut this Wednesday🙌

12/06/2024

Higher than expected unemployment numbers and slowing wage growth have changed the odds to 70% chance of a .50% rate cut Dec 11th.



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11/30/2024

This is expected to increase the odds of a .50% rate cut Dec 11th from 30% to 45%.

“The GDP numbers should help to reinforce that interest rates are higher than they need to be to maintain inflation sustainably at a 2 per cent rate,” Nathan Janzen, assistant chief economist at Royal Bank of Canada

11/28/2024

U.S inflation is up with strong consumer spending.

The U.S. Federal reserve is expected to be more cautious with rate cuts.

We’ll see if this plays into the Bank of Canada’s rate decision Dec 11th.

11/27/2024

Economists odds of the Dec11th rate cut are sitting at 80% for a .25% cut and 20% for a .50% cut.

However this was written just before Trump’s post about the 25% tariffs so we’ll see how that plays out.

I would think the fear of the potential tariffs would only give the Bank of Canada more reason to cut rates more aggressively.

11/25/2024

Do you think this is the bottom on fixed rates for the next year?

Some economists think it is.

11/24/2024

Good news…. No more stress test to qualify at a new lender if you move your mortgage at renewal..

Everything has to stay the same, it can’t be a refinance or we’ll need to qualify with the Stress test.

No extra funds allowed.
No changing the amortization.

11/23/2024

Most economists are now saying Trudeau’s GST/HST “Holiday” and the $250 rebates will almost guarantee a .25% rate cut over the previously expected .50% cut expected Dec 11th.