I'd love a couple of rate cuts before my mortgage renewal in February.
this post was submitted on 20 Aug 2024
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Same date for me, so I'm right there with you on the rate cuts
Can you get fixed rate mortgages there? I'm here in the United States and when I bought a house a couple of years ago, I specifically demanded to get a fixed rate mortgage, even though I knew it would cost slightly more in percentage terms. I knew that I wouldn't be subject to the whims of the jacking around of the central banks and rates.
Yes but Canadian mortgages have renewals on a schedule. 1,2,3,4,5,7,and 10 years are typical. Rates are fixed for that time period, then reset to market rate.
Please sir, I want some more [rate cuts].
They'll oblige. If there's one thing they hate more than inflation, it's deflation.
Can we recover the previous 3 years worth from George Weston? I'll take it back in pieces of skin.
Sure it's down, but is the price of food or homes down too?
Any positive inflation number means that prices are still going up. It is just a question of how fast.
So, lower inflation does not mean you should expect prices to fall. At best, it means you should expect them to go up more slowly.
Well inflation was only 6.8% in 2022 but house/land prices went up at least 40%. The mass city exodus is over yet house prices are still up there...