Well then, it is settled...based on Mentalfloss's logic, everything that happened during Justin's leadership must be blamed on Justin and NOT Harper....LOL
Canada's housing market already suffering because of Trump
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Well then, it is settled...based on Mentalfloss's logic, everything that happened during Justin's leadership must be blamed on Justin and NOT Harper....LOL
From November 1st....
Toronto-Dominion Bank began quietly telling the lending industry on Monday that its prime lending rate was going to jump from 2.7 per cent to 2.85 per cent on Tuesday for one segment of its business — a move that coincides with new federal mortgages rules that many have said will cost the banks money and ultimately be passed on to consumers
https://www.google.ca/amp/business....le-rate-customers-to-face-increased-costs/amp
Toronto-Dominion Bank began quietly telling the lending industry on Monday that its prime lending rate was going to jump from 2.7 per cent to 2.85 per cent on Tuesday for one segment of its business — a move that coincides with new federal mortgages rules that many have said will cost the banks money and ultimately be passed on to consumers
https://www.google.ca/amp/business....le-rate-customers-to-face-increased-costs/amp
I think TD raised their rates 2-3 weeks ago.
But good. The housing market needs a strong correction.
But good. The housing market needs a strong correction.
You again show your complete lack of intelligence or understanding of economics.
The bond rate in Canada is not tied to the US President. It is tied to how our dollar fares on the global money market.
This increase has been coming for months, there have also been increased interest rates in the US (before last week) and most European nations. When the legislation for mortgages changed the BOC was forced to recalculate under the new rules.
While the bond rate changes daily with the market mortgage rates do not. It takes a long period (usually a 3 months) of consistent rise or decline in the group of indicators before it will cause the BOC or chartered banks to change their mortgage rates. The actual factors are the requests for credit, the money supply, the value of the dollar on the global market, the GDP for the last quarter and the projected GDP for the next quarter. These are the same things that affect the bond rates meaning while there is a correlation between the two rates it comes from using the same determining factors not that one is influenced by the other.
Trying to tie this to Trump is pathetic.
You guys are in serious denial.
Trump's win is a game-changer for mortgage strategies in Canada
You can stop waiting to see how the politics of Donald Trump will hit home here in Canada.
Mr. Trump's plan is to stimulate the slow-growing U.S. economy by spending big on infrastructure, and that has financial markets worrying about inflation. As a result, investors are dumping bonds and causing certain interest rates to rise. Mortgage rates could be affected at any time.
"This Trump win is a game-changer for the rate market, everyone in the industry knows it and consumers are going to start hearing more about it," veteran mortgage broker Robert McLister said.
If you're buying a house or you already own one, it's time to strategize. We don't know how much rates will rise or for how long. Mr. Trump has yet to fully announce his economic policies, much less get them implemented. But what's already clear is that the housing outlook is more uncertain today than it has been since the financial crisis in 2008-09.
Let's start with home buyers. The combination of the threat of higher rates and new federal government rules designed to cool housing raise the question of whether we are seeing the peak of the market right now. Keep an eye on rates – the more upward momentum there is, the more risk there is that house prices will come down.
https://beta.theglobeandmail.com/gl...http://www.theglobeandmail.com&service=mobile
Trump's win is a game-changer for mortgage strategies in Canada
You can stop waiting to see how the politics of Donald Trump will hit home here in Canada.
Mr. Trump's plan is to stimulate the slow-growing U.S. economy by spending big on infrastructure, and that has financial markets worrying about inflation. As a result, investors are dumping bonds and causing certain interest rates to rise. Mortgage rates could be affected at any time.
"This Trump win is a game-changer for the rate market, everyone in the industry knows it and consumers are going to start hearing more about it," veteran mortgage broker Robert McLister said.
If you're buying a house or you already own one, it's time to strategize. We don't know how much rates will rise or for how long. Mr. Trump has yet to fully announce his economic policies, much less get them implemented. But what's already clear is that the housing outlook is more uncertain today than it has been since the financial crisis in 2008-09.
Let's start with home buyers. The combination of the threat of higher rates and new federal government rules designed to cool housing raise the question of whether we are seeing the peak of the market right now. Keep an eye on rates – the more upward momentum there is, the more risk there is that house prices will come down.
https://beta.theglobeandmail.com/gl...http://www.theglobeandmail.com&service=mobile
Mentalfloss you struggle to connect with people here I notice. Does that translate similarily in real life?
I actually think his wife controls every facet of his life to the point that he takes his anger out on the Internet.