| | | | | | | | Welcome to our newsletter, The Friday Finale! A simple, quick snapshot of information for you! Below are recent highlights of news over the past two weeks. | | | | | | | What does 2024 Have in Store for the Canadian Economy? | It's been a long time since economic data in Canada showed very much promise. The last 18 months have been defined by a cost of living crisis and a slowing economy. But a handful of economic indicators give us some hope for 2024. Inflation has slowed dramatically, and the economy didn't actually slip into recession. | | HSBC Sale to RBC'a Sad Day for Canadian Mortgage Consumers,' Expert Says | The rubber-stamped sale of HSBC's Canadian operations to Royal Bank will lessen competition on mortgage rates, says one analyst who touted the bank's key role in lowering borrowing costs through its presence in Canada. Mortgage strategist Robert McLister called it "a sad day for Canadian mortgage consumers." | | | | 2024 Housing Market and Interest Rate Forecasts | As we look back at the year that was, we can say 2023 was a year that tested the resilience of Canadian mortgage holders. And as we look forward, there’s optimism that 2024 will be the year of rate relief. Building on the 400 basis points worth of rate hikes by the Bank of Canada in 2022, borrowers faced an additional three quarter-point hikes in 2023, raising payments for some variable-rate borrowers and those renewing their mortgage. | | What Impact Will Increase Rates Have on Canada's House Prices? |
Royal LePage is expecting potential reductions in the Bank of Canada’s interest rate to propel a 5.5% annual increase in the national aggregate home price during the final quarter of 2024. The aggregate level is anticipated to reach $843,684 by Q4, with the median price for a single-family detached property likely to grow by 6% to reach $879,164. Condo units are expected to see a 5% rise in values, reaching $616,140. | | | | The Green Effect Podcast!
| Finance, life, business and everything in between! Brand new content with just myself gabbing away about the real estate world, personal stuff going on in my life, stories as an investor, and whatever else! Come with me on the journey inside my head. | | BLOG POST: Green Thoughts | Most Recent Blog:Understanding Mortgages in Canada: Static vs. Adjustable Variable Rates
Welcome to our blog where we dive into the intricacies of the Canadian mortgage landscape! Today, we're unpacking the key differences between two popular types of mortgages: Static Variable Rate Mortgages and Adjustable Variable Rate Mortgages. Navigating through these options can be a bit daunting, but understanding their distinctions is crucial in making an informed decision that suits your financial goals.
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