AlexGarnerMortgages

[The Kobeissi Letter @KobeissiLetter]

BREAKING: The Federal Reserve has cut interest rates by 50 basis points in their first rate cut since March 2020.

This officially marks the most surprising Fed decision since 2009.

[Steve Saretsky @SteveSaretsky]

The Fed now projecting 3 rate cuts next year. A potential sigh of relief for Tiff Macklem and levered Canadian households.

[Aaron Hector, R.F.P., CFP, TEP @AaronHectorCFP]

My mortgage doesn't renew until 2025.

But I know that if rates stay where they are today, given the balance that my mortgage will be at that time and my remaining amortization, my payment will go up by 26%.

How much will your payment go up by? If you don't know, you should.

[AlexGarnerMortgages @AlexgMortgage]

@MarkMcGrathCFP Well done!!

[MortgageLogic.news @MtgLogicNews]

Canada's 4th largest bank will start selling through mortgage brokers, a win for consumers, brokers and competition.

Here's everything we know on when, why and how @BMO will do it:

https://t.co/9EUHgE9GTk (subscribers)

[zerohedge @zerohedge]

Hike and pause

*FED RAISES BENCHMARK RATE 25 BPS TO 5%-5.25% TARGET RANGE

*FED OMITS PRIOR LANGUAGE THAT SIGNALED MORE HIKES AHEAD

[Canadian Mortgage Trends @CdnMortgageNews]

Canada’s headline inflation rate dipped to 4.3% in March, according to @StatCan_eng. That was in line with economist expectations and down from 5.2% in February.

[AlexGarnerMortgages @AlexgMortgage]

@j_stock_ @MarkMcGrathCFP @jasonpereira @TheSpaceGal Bluey a strong contender if I do say so myself.

[AlexGarnerMortgages @AlexgMortgage]

@j_stock_ @MarkMcGrathCFP @jasonpereira @TheSpaceGal It got cancelled, which is an absolute travesty. Lost count of how many times my daughter has watched.

[Rob McLister @RobMcLister]

Markets are now pricing in a dramatic turn in monetary policy — essentially a 50/50 chance of a rate CUT at the @bankofcanada 's next (April 12) rate announcement. Four cuts total through year end.

[AlexGarnerMortgages @AlexgMortgage]

Mark is an old friend from High School. This is a great reminder to make sure you're taking care of yourself mentally and having a plan when your life eventually slows down at retirement.

Thanks for sharing Mark, it took great strength to do so.

[Mark McGrath @MarkMcGrathCFP]

Make sure you know what you're retiring to.

This was a hard post to write.

I almost didn't write it in fact. I've started and trashed this story many times.

But I believe there are important lessons in this story we can learn from.

Warning: this does not have a happy ending.

[Mark McGrath @MarkMcGrathCFP]

Make sure you know what you're retiring to.

This was a hard post to write.

I almost didn't write it in fact. I've started and trashed this story many times.

But I believe there are important lessons in this story we can learn from.

Warning: this does not have a happy ending.

[Mark McGrath @MarkMcGrathCFP]

Move over RRSP Home Buyers' Plan (HBP) - there's a new kid in town.

The Tax-Free First Home Savings Account (FHSA) arrives on April 1st, 2023.

What is it?
How does it work?
What are the benefits?
What strategies can you use to make the most of it?

I'm glad you asked.

👇

[Mark McGrath @MarkMcGrathCFP]

RRSP returns are tax-free, just like a TFSA.

You heard me.

I said tax-free, not tax-deferred.

And for most, the returns are even better than tax-free.

Don't believe me?

Allow me to explain.

👇

[Mark McGrath @MarkMcGrathCFP]

In Canada, the growth in the value of your home is tax-free.

But did you know that it can apply to vacation properties as well?

Here's a look at the Principal Residence Exemption (PRE) and how it works:

👇

[Steve Saretsky @SteveSaretsky]

It’s official, no more rental restrictions for any strata building in BC.

[Ron Butler @ronmortgageguy]

BREAKING

5 - Year Canada Yields Go Nuts

3.866 right now

Some points in 2003 had LOWER Yields than that number

If this holds tomorrow Fixed Rates start heading up bigly on Monday

We shall see some 5 - yr Fixed Rates starting in the low 6% range

[AlexGarnerMortgages @AlexgMortgage]

Higher rates but less inflation panic: What CIBC’s Benjamin Tal is predicting for stocks, home prices and the economy /via @globeandmail https://t.co/8hhMgEcPaI

[AlexGarnerMortgages @AlexgMortgage]

OSFI maintains stress test for uninsured mortgages as sufficient cushion for now https://t.co/7f8Y4Bwa0d

[AlexGarnerMortgages @AlexgMortgage]

B.C. to bring in ‘cooling off periods’ amid soaring real estate sales | https://t.co/RoyaJzm8FM https://t.co/PxuiRQkOsV