Bank of Canada Scolds Trudeau on Mortgage Rules: 'There Is No Free Lunch'

#bankofcanada #canadianrealestate #canadianeconomy

The Bank of Canada is publicly scolding the Canadian government for tinkering with mortgages, noting that, “There is No Free Lunch.” The speech, given by Senior Deputy Governor Carolyn Rogers, outlined the hazards inherent in extended mortgage amortizations.

Links:

Speech by Senior Deputy Governor Rogers/Discours de la première sous-gouverneure Rogers:

Canadian housing market 'sluggish' despite change to mortgage loan rules:

Bank of Canada's Carolyn Rogers warns against ‘tinkering’ with mortgage market:

Real estate market: Definitions, graphs and data:

Freeland says Canada will expand 30-year amortization, raise insured mortgage cap:

Trump’s win is already driving mortgage rate hikes in Canada:

BoC's deeper cut aims to reignite housing market:

Canada's housing affordability crisis may persist for years despite rate cuts:

U.S. 10 Year Treasury Note:

US Bond Yields Surge as Trump Win Stokes Inflation Expectations:

Markets Brace For Higher Inflation and Interest Rates Under President Trump:

Mark Mitchell – Mortgage Broker London Ontario
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[pjakubek]

Shut down CMHC and watch how quickly things go back to normal ! Every CMHC loan is a BAD loan by definition. No reasonable lender would make such a loan if it was not for CMHC guarantee.

[LC-hvqn]

Thanks again. The BOC should have said there was no free lunch 15 years ago. 😂...

[RickyLafayette]

Letting people borrow more and more ridiculous amounts of money is the farthest thing from making housing affordable. What needs to happen to make housing affordable that nobody wants to live through including me deep down, although I wonder if we should suffer it so our children don't have to, we need price deflation in so many things. Food, housing taxes, fuel people can't afford to do anything. Even young successful people I know don't seem very well off. I myself am probably in the top 10 or 5% of people my age and I still don't feel like Life is possible here. Nobody can afford to have kids by housing. Everybody works like a slave and hates the job they do normally. Along with it, people aren't happy and I don't see if things continue this way. This country being first world for very long

[bitpuff]

Thank you Mark for the excellent work as always. I watched the full interview yesterday and the things that the deputy governor communicated were quite subtle and required some reading between the lines. However, these communications are very important insights into how the BoC is interpreting current policies and events, and I suspect almost no one is paying attention to this. I really wish your channel and videos have broader exposure as Canadians really need to understand the situation we are currently in, and all of the associated risks, as the mainstream media is clearly never doing their jobs.

[reynaldo-zoiz]

Defund the BoC! Fire the BoC Governor and all the underlings!!

[reality-cfjw]

Just what I want, a thirty year mortgage on a one point five million dollar home.

[rpmatt]

Excellent work once again Mark, calling out the BS and telling it like it is.

[zacharyfrank]

a year ago we were being told that housing costs were not the priority or even purview of the BOC.. now we're being told that housing is "their turf"

[Icecold]

Affordable housing nah. Longer amortizations and higher insured mortgages. That’ll fix things.

[jasmines.]

You dont own a home u own a a mortgage the bank owns the home

[dinosteiss]

Great information; the BOC has a dilemma knowing Trump will curb inflation with cuts to spending before raising interest rates, and our hero, JT will try and spend his way into re-election.

[mogulrider]

For those that were taught that socialism was great. How's your life today?
Maggie Thatcher said.
"Socialism is wonderful until you run out of other people's money".
We are 1.5 Trillion in Federal debt + the trillion that the Provinces owe.
That's your debt if you didn't know.
Let that sink in.

[dawna]

So sick and tired of everything to be honest....the enjoyment of living is slowly being sucked away...seems like most gov policies exist to keep the rich rich and the poor, well, poor...thanks for your excellent content, Mark

[biancaleva]

At the end Canadian public will fork the bill, for all this stupidity does this bunch at federal level

[karim.mmmmmmm]

I feel she would do a better job than tiff …

[JimmyHat-kt]

The real estate market will grind sideways for the next 5 years

[dinagallis]

Thanks Mark! Great reporting once again!! 😊

[ferriswheeler]

Freeland definitely believes in free lunch.. we're paying for her "professional trainer" for 5 figures a year and it looks like she's growing!!! Growing like our debt load!!!!

[JimmyHat-kt]

She's wonderful "no free lunch" what a saint ❤

[zfighter]

Great inclusion of Bobby; that boy ain't right.