Shelter takes larger share in updated CPI basket weights + MORE Jun 17th
Weekly mortgage digest: Which big banks just dropped fixed rates? + MORE Jul 11th
House rich, cash poor: When a reverse mortgage might make sense Jul 14th
Lowest mortgage rates rise above 4% as bond yields surge Dec 12th
Opinion: Why mortgage brokers are not order takers Dec 9th
Making sense of the markets this week: June 9, 2024
– moneysense.ca
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
“The Big Cut”
While The Big Short film is a riveting watch, “The Big Cut” may be even more enthralling.
The Bank of Canada (BoC) made the decision to cut its key interest rate to 4.75% on Wednesday. It’s the first rate cut since March 2020. With about $700 million worth of mortgages coming up for renewal in Canada this year, “The Big Cut” is going to affect a lot of Canadians.
“We’ve come a long way in the fight against inflation. And our confidence that inflation will continue to move closer to the 2% target has increased over recent months.”
– BoC Governor Tiff Macklem
Macklem also said: “Total consumer price index inflation has declined consistently over the course of this year, and indicators of underlying inflation increasingly point to a sustained easing…
What the Bank of Canada rate cut means for mortgages, consumer loans and investments
– canadianmortgagetrends.com
