Canadian Fixed Mortgage Rates Surging on US Deficit Woes

#CanadianMortgageRates #CanadianEconomy #BankofCanada

Canada’s fixed mortgage rates are surging higher as a hotter-than-expected economy in the U.S., combined with an uptick in inflation, has some worried about the return of the bond vigilantes.

Links:

Bank of Canada nears decision on oversized rate cut:

Mortgage rate war intensifies as rates dip below 4%:

‘Exceptional’ mortgage rates spotted in Canada after U.S. Fed rate cut:

Weeks of cuts give way to mortgage rate hikes as U.S. job numbers soar:

Canada 5 Year Government Bond:

Interest rates are dropping. What, if anything, will get cheaper?:

Policy interest rate:

Canada Inflation Eases to 1.6%, Raising Jumbo Rate Cut Odds:

Inflation falls to 1.6%, making a case for larger Bank of Canada rate cut:

Former Bank of Canada Official Sees Jumbo Rate Cut in October:

10-year Treasury yield soars after jobs report blows past expectations:

Interest rates have further to fall, but fixed mortgage rates are already nearing their bottom:

U.S. inflation data shows consumer prices rose more than expected:

Blockbuster jobs report paves way for US economy to avoid recession in 'soft landing,' experts say:

Federal Reserve’s Waller calls for more caution on rate cuts after ‘disappointing’ data:

America’s economy is bigger and better than ever:

US budget deficit tops $1.8 trillion in fiscal 2024, third-largest on record:

US deficit poses ‘significant risks’ to global economy, warns IMF:

The Latest: New analysis says both Trump and Harris’ plans would increase the deficit:

Harris’s and Trump’s economic plans both promise utopia:

Bond Yields May Keep Climbing After the Election. How to Protect Your Portfolio:

Worries about deficit spending after election bog down U.S. government debt:

Mark Mitchell – Mortgage Broker London Ontario
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[lawrencehalpin]

Thank you Mr. Mitchell for doing the media's job. You are so much better at it than they are.

[Carlos-imhn]

Bringing the truth. Great show Mark. Thank you.

[central]

I'm so sick of governments overspending just to make themselves look better and delaying the evitable.

These governments need to get their house in order.

[JTsimpatico]

I suppose it makes sense that an insured mortgage merits a lower rate than an uninsured one @2:18, but it certainly seems counterintuitive that a buyer with a sufficient down payment to be exempt from the insurance requirement would be penalized for it.

[neilbertram]

Thank you. This was the best explanation I have heard, differentiating the factors that affect fixed and variable mortgage rates in Canada.

[dinagallis]

Thanks Mark 🙏☺️ for keep us in the know! Can’t miss any of your updates!

[XxBlindoutxX]

192k interest on 200k loan for mortgage

[rustykatt]

Thanks for the video and information Mr. Mitchell ! ! All the best to you for explaining things and to us all. ✨😊✨

[Lambertus]

Thank you for explaining these concepts so well. My wife's family is currently considering between fixed and variable and this helps me add a bit of nuance to their discussion.

[jeradthon]

Bond yields rising along with gold and silver. The market is crazy these days

[gechgr]

Canadians think that interest rates are a favour the Bank of Canada does to people who want to buy a house or a car on credit. It’s really the price of risk that lenders stick you with.

[islandaerial]

Smells like the banks are gouging due to crappy balance sheets

[OpokuRealty]

I love your content. Keep them coming!!

[PSJ_]

Hot job market in US… until employment numbers are revised post election?

[mogulrider]

Thks Mark. I would say the bond market is punishing the G20 not just the US. As per my previous cycle comments. From Oct 2007 Central bank cuts to July 2008 long rates exploded as CB's cut hard. By July 2008 it broke housing specs and their financers and insurers. This brought about the GFC.
It's why I've always said 2026. We can expect similar long bond behavior into Q3 next year.
This will destroy the economy into 2026. Starting with real estate specs. Look at bank owned in TO right now. This tidal wave will continue and reprice due to bank owned will reprice everything. That will cascade everyone like it did in the US in 2009.
They always make the same mistakes.

[arronhopsburg]

The Bank of Canada is playing politics with rate setting. The risk for them is that they become irrelevant as the market goes in a different direction. Higher gold prices are the result of failing confidence. So too are higher rates. That is a correlation few understand.

[John]

But I thought the rate cuts from the BOC was going to save everyone and send housing skyrocketing? Are you saying that the experts are wrong? ...

[lominiski]

Wondering if the Canadian government can pay it back without deteriorating the bank balance.

[Imsosmrt]

Thank you for the Archie Bunker clip. 😂

[testcase]

You can't have flex mortgage under fixed will do see US after election