@JohnGan94616367@BarrySchwartzBW Inflation already hit the prices, I haven’t seen prices go up more recently?
Low inflation doesn’t mean prices come back down, that damage has been done. It means they are stable and yeah, I’ve seen that.
@jblair247@IceCapGlobal@RichardDias_CFA No the Canadian economy is heading hard and fast down a very bad path. They need rapid rate cuts, some cities are seeing near 10% unemployment
@dgsommersmkts@franco_0111 Same mistake they made in raising rates if you don’t cut now. Reacted too late, remember cuts and raises are lagging the jobs market is in a terrible shape
@AlexRMcColl@ronmortgageguy It’s only about a 1% difference right now from a 3 year to a 5 year variable at prime minus 1.1.
We will see 2 cuts of 25bps this year along. Narrowing that to .5% and then you only need 2 more cuts which will happen by spring
@ronmortgageguy Folks leaning towards variable now probably (if they can afford it). Given the fact that you see 4.5’s for the 3 year fixed, the variable could bear that by Q1 2025.