Show Notes
The Bank of Canada opted to hike interest rates for the first time in three years in an effort to help runaway inflation because of high energy prices.
There are concerns this could push potential homebuyers to the sidelines and further hurt those looking to renew mortgages, as Canadians grapple with a rising cost-of-living. Throw in geopolitical tensions thanks to the Trump Administration, and we could see a pattern of interest rates in the near future.
Host Kris McCusker speaks to Clay Jarvis is a mortgage expert at Ratehub.ca to discuss what changes to make to your monthly budgets, and how homeowners and potential homeowner should approach the next few months.
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The drama around Canada-U.S. trade and U.S. President Trump's ramp up in rhetoric might all be connected to Prime Minister Mark Carney’s decision to push back. Many of us are now watching closely and voters south of the border prepare to vote in their midterms, where Canadians are hoping a Democratic congress could put a check on Trump. However, one longtime watcher of Canada-US relations says its not clear if things will change.
It’s a long running issue for Canadians: affordable housing.