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| Name | Bank of Canada Warns of 'Steep' Mortgage Payment Increases |
| Video Uploader | Video From Mark Mitchell - Mortgage Broker London Ontario |
| Upload Date | This Video Uploaded At 10-05-2024 15:43:03 |
| Video Discription | #bankofcanada #CanadianMortgageRates #CanadianRealEstate The Bank of Canada is warning Canadians (and banks) to prepare for steep mortgage payment increases as the renewal wave approaches in 2025 and 2026. However, the Bank is also noting, that for right now at least, renters are seeing the most sign of distress. Links: Financial Stability Report 2024 – In Brief: https://www.youtube.com/watch?v=7GC7NswkDAE Financial Stability Report—2024: https://www.bankofcanada.ca/2024/05/financial-stability-report-2024/ Bank of Canada warns of steep jump in mortgage payments: https://www.theglobeandmail.com/business/article-bank-of-canada-warns-of-steep-jump-in-mortgage-payments/ Renters so far more ‘vulnerable’ than homeowners amid higher interest rates. Why?: https://globalnews.ca/news/10484740/bank-of-canada-renter-vulnerability/ Bank of Canada says nation's renters showing signs of financial strain: https://financialpost.com/news/economy/bank-of-canada-warns-renters-showing-financial-strain Consumer Price Index: https://www.statcan.gc.ca/en/subjects-start/prices_and_price_indexes/consumer_price_indexes Our cost-of-living crisis: In just three years rent and groceries are up nearly 40 per cent. There are solutions: https://www.thestar.com/business/opinion/our-cost-of-living-crisis-in-just-three-years-rent-and-groceries-are-up-nearly/article_8ed6a480-e789-11ee-ac88-fbb27d23a241.html Canadian Household Debt Nears $3 Trillion, Over 130% of GDP: https://betterdwelling.com/canadian-household-debt-nears-3-trillion-over-130-of-gdp/ Lenders now seeing 60-, 70-, even 90-year mortgages as Canadians struggle with rocketing interest rates: https://www.thestar.com/business/lenders-now-seeing-60--70--even-90-year-mortgages-as-canadians-struggle-with/article_91dd72d2-bfeb-578f-a72f-bc72dc1e1e74.html Mark Mitchell – Mortgage Broker London Ontario 920 Commissioners road east London, Ontario N5Z 3J1 Phone: (519)860-2102 (Call or Text) MarkMitchell@LondonOntarioMortgages.ca Brokerage Lic: 10464 Broker Lic: M16001479 https://www.LondonOntarioMortgages.ca – Apply Online!! Youtube Channel: https://www.youtube.com/c/MarkMitchellMortgageBrokerLondonOntario Subscribe NOW for more Mortgage/Financial News/Videos. Follow me on Social Media: Instagram - https://www.instagram.com/mortgagebrokerlondonontario Facebook - https://www.facebook.com/londonontariomortgages Twitter - https://twitter.com/londonmortgage1/ LinkedIn - https://www.linkedin.com/in/mark-mitchell-london-s-mortgage-broker-197842123/ TikTok - https://www.tiktok.com/@mortgagebrokerlondon?lang=en Commentary on this Channel should not be considered financial advice. |
| Category | Education |
| Tags | #BankofCanada | #CanadianMortgageRates | #CanadianRealEstate | #Canadarealestate |
