Michelle McCullough

Mortgage Broker. UNBC Grad. [email protected]

[Michelle McCullough @InvisPG]

@KTNV @GoldenKnights
We cancelled our trip to LV and have 4 tickets to the game March 2. Since they were resale tickets and we are in Canada, I can’t resell them. Can you help me get them to a family who would love to see them game? I don’t want the tickets to go unused.

[Daniel Foch @danielfoch]

When it comes to the housing market, the bond market is far more in control than the Bank of Canada.

The majority of outstanding mortgages are fixed, and the majority of buyers are using fixed mortgages.

Fixed pricing is set by bond yields, not the overnight rate.

[Michelle McCullough @InvisPG]

@jmarren19 @TdLeaker 😂 I wish that was the case

[The Rob Campbell @therobcampbell]

🏠 Canada's Housing Crisis: A Closer Look! 📉💔

Canada is currently facing a serious housing crisis, impacting countless families across the country.

PMJT spoke yesterday while in Hamilton regarding the housing crisis. He claimed that even though the Federal Government is working on helping Canadians get in to more homes at affordable prices, he also stated that “Housing isn’t a Primary Federal Responsibility”.

Let's dive into five key factors that the Federal Government DOES have control over:

1. Interest Rates: The Bank of Canada's monetary policies, including interest rates, play a
crucial role in influencing housing markets. With fluctuating rates, it becomes challenging for potential homebuyers to plan and budget for their dream homes as well as Developers securing affordable financing to build homes.

2. CMHC (Canada Mortgage and Housing Corporation): The CMHC is a vital player in the
housing market, providing mortgage insurance to lenders and helping make homeownership more accessible. However, with average home prices pushing closer to $1M (the CMHC cut off) fewer Canadians can afford the massive jump in down payment to 20% down past the $1M mark.

3. OSFI (Office of the Superintendent of Financial Institutions): OSFI regulates Canada's financial institutions, including banks and mortgage lenders. Their policies and stress tests are aimed at ensuring financial stability but might inadvertently limit access to mortgage credit for some buyers.

4. Department of Finance: The federal Department of Finance plays a significant role in shaping housing-related policies and initiatives. Striking a balance between encouraging housing market growth and safeguarding against a potential bubble is an ongoing challenge.

5. Immigration: Canada has been a destination of choice for immigrants worldwide, and while this enriches our society, it also impacts the demand for housing. High immigration numbers can exert substantial pressure on an already competitive housing market. Last year alone, Canada
welcomed more than 1 Million newcomers.

Here’s the question: Is Housing a Federal Issue now? Has it always been, or should it be left to the Provinces and Municipalities who are taking on this population growth?

It's essential for all levels of government and stakeholders to collaborate on sustainable
solutions, promoting housing affordability and addressing supply constraints. Let's raise
awareness and advocate for measures that can alleviate the burden faced by many in our
communities.
All political parties and levels of Government need to talk openly about this and find a solution.

🤝 💙❤🧡💚 🤝

[Michelle McCullough @InvisPG]

@unicornbrian Bond yields are down. This is what they base rates on. So we should see a reduction in rates 🤞🏻

[Rob McLister @RobMcLister]

The US banking crisis has government yields down in flames. Hardest fall since 1980s.

In just over 3 trading days:

• US 2yr: -101 bps
• Cdn 2yr: -84 bps
• Cdn 5yr: -69 bps

Markets now fully pricing in 2 @bankofcanada CUTS by July. Absolutely breathtaking turn of events.

[Michelle McCullough @InvisPG]

We need more Lady Gaga’s in this world.

[Variety @Variety]

"You might find that you can be your own hero, even if you feel broken inside." Lady Gaga introduces her performance of "Hold My Hand" at the #Oscars. https://t.co/ndiKiHeOT5

[Ron Butler @ronmortgageguy]

There Will Be No Bank of Canada Increase In Prime Rate Tomorrow

As I have been posting for 6 weeks NO INCREASE

In the last couple of days the BoC has clearly leaked this everywhere because every news outlet has been saying it for the last 3 days

March is ZERO

[Hanna Petersen @hannaepeter]

Hey, #CityofPG! Don't forget when you go to the polls this October you'll also be voting for #sd57 board trustees. But who's even running? Let me tell you 🧵

[CKPG News @ckpgnews]

Unconfirmed reports of earthquake near Prince George https://t.co/sWizj6Bh5m

[Michelle McCullough @InvisPG]

@CadenFanshaw @ckpgnews Yes!! We ran outside. Thought a car hit our building. RCMP ran out too thinking the same.

[Steve Saretsky @SteveSaretsky]

Keep in mind a lot of new home buyers are now being stress tested on higher rates, thus reducing borrowing power further.

[The Rob Campbell @therobcampbell]

If the BoC increases rates today by 25 BPS, your Variable Rate mortgage will increase $12 per every $100k borrowed (25 year am, 1.45% rate at origination)
Its not the end of days, folks.
Canned beans increase in price 60% YoY.

[Michelle McCullough @InvisPG]

@BenRabidoux This is terrifying.

[Michelle McCullough @InvisPG]

@jyduclos Hi Jean-Yves, are you able to share when this info will be released? My daughter & I are due to travel Friday. Our stress levels are at an all time high as we figure she had COVID in Jan. Due to our govt guidelines she was unable to be tested. Worried she may still test positive

[Michelle McCullough @InvisPG]

Awesome podcast hosted by some great guys, one being local to PG! Their podcast this week had @LofaTatupu51! He chats football & about how CBD has helped him in his life.
#cityofpg #cbdwellness #MJBcannabis
https://t.co/KzlHMifTBT

[Rob McLister @RobMcLister]

BREAKING: @bankofcanada defies market expectations, holding its key rate at a record low 0.25%. Many say rates have no business near 0% with a 30yr high in core inflation & worsening inflation expectations. The market is now pricing in a 75% chance of a hike March 2.

[Ron Butler @ronmortgageguy]

BREAKING: Announcement at 11:00 AM Today from the Canadian Housing Minister

May be nothing

May be......

[Michelle McCullough @InvisPG]

@Darrin_Rigo @thekassmonster So proud of the students that brought this forward. Would take a ton of courage.
Watching the video made my blood boil. I want to call him a terrible person but he’s so much worse than that.