'Exceptional' mortgage rates spotted in Canada after US Fed rate cut

The U.S. Federal Reserve’s 50-basis-point interest rate cut on Wednesday is having ripple effects north of the border, with experts pointing to implications for both the Bank of Canada and Canadian mortgage holders.

The Fed delivered an oversized step for its first interest rate cut in four years, a move that surprised many economists who had expected a standard quarter-point cut.

To the north, the Bank of Canada is well-entrenched in its own easing cycle, having cut its policy rate by 25 basis points three times since June.

Global's Anne Gaviola has the details.

#GlobalNews #Mortgage #Canada

[apimaniacan-be]

It’s all about being slaves to financial institutions instead of having financial freedom.

[happydaze]

"You'll own nothing and be happy"

[RhysHuntoffice]

The level of inefficiency and corruption in this administration is becoming absurd. Those who are disabled and do not receive the support to which they are legally entitled make me sad. I sincerely thank you, June Renae Matthysse. Imagine making $6k in 20 days with an investment of $1.5k.

[bob-pxj]

Only a few of my friends own houses, the rest of us will be renters for life, depressing...

[nicmacshuttles]

Developers charge a lot for properties because they need to at least profit 5-10%, Majority of their revenue goes to government fees. So instead of lowering the fees the government offers 30 year mortgages which making the home owner rack on more debt. Real genius.

[syberspy]

Right... Let's be in a 30 year debt at a high interest rate and a huge principle.

Also the cost of living is not calculating the cost of buying a house! It only calculates the cost of maintaining a house.

[peej]

Government is saying one thing but doing another. Get into more debt don’t worry about it. Canadians know better. Financial literacy is at an all time low

[MrJmpowers]

Bring on more debt!! 🎉😂

Wages need to go up? How about replace the existing government and bring prices back down where they belong. Canada has turned into a complete joke!

[justanotherchannel]

Market will be on a bull run and price increase by 25% within 1 year with rate drops

[rajahjain]

Liberal Government needs to keep prices up and rising. The Canadian Real Estate market used to be a investment but Trudeau has made it speculative. Will need a major adjustment to be a good investment again.

[MrKenng]

Bank of Canada shouldn't have cut interest rate. Just another poor fiscal policy.