🚨 Canadian Mortgage Update! 🍁 Ep.6 | 📉 Inflation News & When to expect rate cuts

In this episode of Mortgage Market Minute, we examine the latest Canadian inflation data for March 2024, its implications for future interest rate cuts, and what to expect from upcoming economic indicators. Join Alexander Gasenko as he analyses how recent trends in inflation could influence the Bank of Canada's next rate moves.

🔍 In This Episode:

- Detailed Analysis of March 2024 Canadian Inflation Rates
- Predictions for Potential Rate Cuts by the Bank of Canada
- Overview of Upcoming Economic Events Impacting Mortgage Rates

📌 Timestamps:
00:00 - Intro
00:19 - Canadian Inflation Update for March 2024
01:38 - Forecasting Bank of Canada's Rate Decisions
02:20 - Key Economic Events to Watch
02:59 - Outro

Alexander Gasenko - your trusted Toronto & GTA mortgage broker. Dominion Lending Centres Maple Mortgage Group Independently Owned & Operated — FSRA# 13415

🏠 If you're exploring options for a new mortgage, considering a renewal, or have any questions about the Canadian mortgage market, I'm here to provide expert advice. Book your one-on-one consultation to get tailored guidance suited to your personal financial situation.

📝 Note: The information in this video is for informational purposes only and should not be considered financial advice. Always consult with a professional before making any financial decisions.

[CanadianMortgages]

🍁🏦 Summary of Bank of Canada Deliberations

🎯 Current Status:

Inflation: Holding steady at around 3% for now, expected to drop below 2.5% by year-end.
Interest Rates: The Bank of Canada keeps the policy rate fixed at 5% to manage inflation towards a 2% target.

🔍 What This Means for Mortgages:
Stable Rates: No change in interest rates means consistent mortgage costs for now. Planning your finances becomes easier with no immediate fluctuations expected.

🔮 Looking Ahead:
Future Cuts? Interest rates might decrease once inflation consistently approaches the target. However, no changes are anticipated until the economic conditions align perfectly with ongoing stability goals.

👉 Key Takeaway:
Prepare for stability in interest rates short-term. Potential rate cuts could be on the horizon, but they depend heavily on forthcoming economic data.

[andrewcrook]

Rates are going up folks!

The US are going to raise rates. BoC has no choice but to follow suit. If not thr dollar crashes which drives inflation thru thr roof.

If you have a mortgage that you cannot pay off in 10 years or less, SELL now and downsize. If not... get the KY out.

Rates are going up, even if it drops .25 it will be up 1.0 in thr next year. Get ready, be smart, drop your debt.

[viktoriyazaytseva]

Thank you Alex! Super anxious about mortgage affordability these days, and having updates like this helps me feel somewhat in control. Keeping my fingers crossed for a 0.25 reduction in June 🤞