Moments ago Chrystia Freeland did a presser. In it she said Canada has the best econmic performance in the G7, our economy has completely recovered, and that employment is at 120% pre-pandemic levels. Now throw in bank failures. None of that suggests a BoC decrease in interest rates.
what banks (in Canada) have failed? remember, Levites are reading these comments for Liars! the 9th Commandment shall be enforced, as under moses. and now this True analysis The Central Banks clearly did not understand the many rate hikes were NOT going to slow down demands by shareholders "to max profits, by raising prices". Basic grade 11 economics. Profits Do Not go into the Gross Domestic Product But raising prices for profits does CREATE inflation without raising the GDP. // Look, to understand what I just typed into the comment requires a Macro Vision. Not a low brow micro one, like that of the liar Larry duh kudlow. "i'm not a macro guy", said the atheist Hebrew on CNBC in Jan 2016. He always lied always "a corporate tax cut will lead to more spending on (tax deductible expenses) buying of equipment/more wages. BUT Grade 10 accounting lessons teach GAAP's Matching Principle. so NO CFO/CEO could ever legally Debit the Retained Earnings' account of their company/Credit wages payable account or credit vendor payable (for buying of equipment). myop Moses had his 10 simple rules (also the name of a TV show), and he Killed any one (the population was made up of ONLY Hebrews though) that defied any of those 10 Simplerules. // though shall not bring false witness about 'how a company will use after taxed profits to account for tax deductible expenses'. No company can use after taxed profits to account for tax deductible expenses, because the company would pay DOUBLE in taxes. basic gr 10, but Conservatives and Republicans do not learn basic grade 10 accounting, or any thing beyond sex education.
That’s why I put the word “may” is in the title. Most buyers in todays market are taking short term fixed rates, Fixed is already below the variable, if they drop more that will impact things more then BOC holding, or going up or down 0.25 this year (in my opinion)
Hey Tom, I've enjoyed your videos. Something to consider beyond what Fed & BoC say is that major war = inflation 100% of the time in history. The Fed or BoC can't say that they are raising rates bc of the shortages / inflation that is exacerbated by the Ukraine (NATO vs Russia) war, but that's when rates started climbing in North America. As long as that is a threat, there is uncertainty which causes rates needing to be raised in line with what the private capital market is doing.
It depends on the type of variable rate mortgage you have. Adjustable variable rates would automatically change their payments based on the prime rate. While static variable rates would shift more of the payment back to principal.
Hey Tom, I just watched your video and I must say that it was really informative and well-made. I loved your videos. I was wondering if I could help you edit your videos and also make highly engaging shorts for you.
A TD economist said by end of summer inflation should be at 3.5% based on the economy not growing (which BOC wants to see). Rate cuts should start in the beginning of the first quarter in 2024 🤞🏾
@@Lifeisapartydresslikeit I don't really trust what ppl at the banks say. It's all dependent on what happens in the USA in my opinion. If they keep hiking away and the loonie gets to devalued, that causes more inflation and the need to keep hiking
U need to Go outside The Central Banks clearly did not understand the many rate hikes were NOT going to slow down demands by shareholders "to max profits, by raising prices". Basic grade 11 economics. Profits Do Not go into the Gross Domestic Product But raising prices for profits does CREATE inflation without raising the GDP. // Look, to understand what I just typed into the comment requires a Macro Vision. Not a low brow micro one, like that of the liar Larry duh kudlow. "i'm not a macro guy", said the atheist Hebrew on CNBC in Jan 2016. He always lied always "a corporate tax cut will lead to more spending on (tax deductible expenses) buying of equipment/more wages. BUT Grade 10 accounting lessons teach GAAP's Matching Principle. so NO CFO/CEO could ever legally Debit the Retained Earnings' account of their company/Credit wages payable account or credit vendor payable (for buying of equipment). myop Moses had his 10 simple rules (also the name of a TV show), and he Killed any one (the population was made up of ONLY Hebrews though) that defied any of those 10 Simplerules. // though shall not bring false witness about 'how a company will use after taxed profits to account for tax deductible expenses'. No company can use after taxed profits to account for tax deductible expenses, because the company would pay DOUBLE in taxes. basic gr 10, but Conservatives and Republicans do not learn basic grade 10 accounting, or any thing beyond sex education.
2% inflation was always unrealistic. We live in an inflationary world in Canada. Everyone (so they say) wants to live here. It's simple supply and demand.
Inflation is ok at 4 or 5%. No one cares other than ppl who want to own a house. Thats it. The areas where covid made prices ridiculously high need to correct. Toronto and gta need to increase where outside gta needs to drop further.
We have lived in a predictable rate environment for a period of time. Isn’t it possible that that we live in an unpredictable rate environment for a period of time?
No they shouldn't, they have to stress the markets more, people still have luxury cars, going to events and purchasing expensive items, they should keep it like this for 5 years so everyone that renews their mortgage will be locked at 5% fixed.
The US Fed just raised rates 25 basis points today. Hoping for a BoC rate cut anytime in the near future is wishful thinking.
Agreed. Fixed rates dropping would impact todays market more then BOC going up or down 0.25 (in my opinion)
fixed rates went down
It's about time my variable came down. This has been brutal. It's done very little to impact inflation. A new tactic needs to be used.
Agreed. Inflation has been much less of a problem than the BoC rates. Who cares if groceries are up 15% when my mortgage is up another $1500 a month.
@@nairbos neither of which the BOC has proven themselves capable of handling
Moments ago Chrystia Freeland did a presser. In it she said Canada has the best econmic performance in the G7, our economy has completely recovered, and that employment is at 120% pre-pandemic levels. Now throw in bank failures. None of that suggests a BoC decrease in interest rates.
what banks (in Canada) have failed? remember, Levites are reading these comments for Liars! the 9th Commandment shall be enforced, as under moses.
and now this True analysis
The Central Banks clearly did not understand the many rate hikes were NOT going to slow down demands by shareholders "to max profits, by raising prices".
Basic grade 11 economics. Profits Do Not go into the Gross Domestic Product But raising prices for profits does CREATE inflation without raising the GDP.
// Look, to understand what I just typed into the comment requires a Macro Vision. Not a low brow micro one, like that of the liar Larry duh kudlow.
"i'm not a macro guy", said the atheist Hebrew on CNBC in Jan 2016. He always lied always
"a corporate tax cut will lead to more spending on (tax deductible expenses) buying of equipment/more wages.
BUT Grade 10 accounting lessons teach GAAP's Matching Principle.
so NO CFO/CEO could ever legally Debit the Retained Earnings' account of their company/Credit wages payable account or credit vendor payable (for buying of equipment).
myop Moses had his 10 simple rules (also the name of a TV show), and he Killed any one (the population was made up of ONLY Hebrews though) that defied any of those 10 Simplerules. // though shall not bring false witness about 'how a company will use after taxed profits to account for tax deductible expenses'.
No company can use after taxed profits to account for tax deductible expenses, because the company would pay DOUBLE in taxes. basic gr 10, but Conservatives and Republicans do not learn basic grade 10 accounting, or any thing beyond sex education.
That’s why I put the word “may” is in the title. Most buyers in todays market are taking short term fixed rates, Fixed is already below the variable, if they drop more that will impact things more then BOC holding, or going up or down 0.25 this year (in my opinion)
You actually believe what that WITCH says? She's a LIAR and she works for a LIAR.
Hey Tom, I've enjoyed your videos. Something to consider beyond what Fed & BoC say is that major war = inflation 100% of the time in history. The Fed or BoC can't say that they are raising rates bc of the shortages / inflation that is exacerbated by the Ukraine (NATO vs Russia) war, but that's when rates started climbing in North America. As long as that is a threat, there is uncertainty which causes rates needing to be raised in line with what the private capital market is doing.
Very good point. Appreciate you watching and commenting.
How quickly do variable mortgage rates come down if the BOC cuts their rate?
It depends on the type of variable rate mortgage you have. Adjustable variable rates would automatically change their payments based on the prime rate. While static variable rates would shift more of the payment back to principal.
@@TomStorey thanks a lot, really enjoy all the videos and podcasts!
Rate cuts would push inflation back up so I don't see any cuts this year. I'm thinking Spring of 2024 will be first cut.
My mortgage is due to renew end of June. Is it wise to wait then and see? And keep it variable rather than fixed rate?
I would personally go to a 2 year fixed. But it all depends on your situation.
This is one of my favourite UA-cam channels ✅
Thank you. Appreciate you watching and commenting.
Hey Tom, I just watched your video and I must say that it was really informative and well-made. I loved your videos. I was wondering if I could help you edit your videos and also make highly engaging shorts for you.
Thanks for watching. I’ve got editing covered but appreciate the offer.
I think a cut any time before mid next year is wishful thinking
A TD economist said by end of summer inflation should be at 3.5% based on the economy not growing (which BOC wants to see). Rate cuts should start in the beginning of the first quarter in 2024 🤞🏾
@@Lifeisapartydresslikeit I don't really trust what ppl at the banks say. It's all dependent on what happens in the USA in my opinion. If they keep hiking away and the loonie gets to devalued, that causes more inflation and the need to keep hiking
We NEED a Recession. Pausing for longer could be bad decision.
We need to get inflation in check.
@@TomStorey yes!!
U need to Go outside
The Central Banks clearly did not understand the many rate hikes were NOT going to slow down demands by shareholders "to max profits, by raising prices".
Basic grade 11 economics. Profits Do Not go into the Gross Domestic Product But raising prices for profits does CREATE inflation without raising the GDP.
// Look, to understand what I just typed into the comment requires a Macro Vision. Not a low brow micro one, like that of the liar Larry duh kudlow.
"i'm not a macro guy", said the atheist Hebrew on CNBC in Jan 2016. He always lied always
"a corporate tax cut will lead to more spending on (tax deductible expenses) buying of equipment/more wages.
BUT Grade 10 accounting lessons teach GAAP's Matching Principle.
so NO CFO/CEO could ever legally Debit the Retained Earnings' account of their company/Credit wages payable account or credit vendor payable (for buying of equipment).
myop Moses had his 10 simple rules (also the name of a TV show), and he Killed any one (the population was made up of ONLY Hebrews though) that defied any of those 10 Simplerules. // though shall not bring false witness about 'how a company will use after taxed profits to account for tax deductible expenses'.
No company can use after taxed profits to account for tax deductible expenses, because the company would pay DOUBLE in taxes. basic gr 10, but Conservatives and Republicans do not learn basic grade 10 accounting, or any thing beyond sex education.
2% inflation was always unrealistic. We live in an inflationary world in Canada. Everyone (so they say) wants to live here. It's simple supply and demand.
Inflation is ok at 4 or 5%. No one cares other than ppl who want to own a house. Thats it.
The areas where covid made prices ridiculously high need to correct. Toronto and gta need to increase where outside gta needs to drop further.
Scamdemic, not Pandemic!
We have lived in a predictable rate environment for a period of time.
Isn’t it possible that that we live in an unpredictable rate environment for a period of time?
Sounds about right.
@@TomStorey up, down and sideways for a while if you ask me... US just hiked 25 basis points. Let's see what happens next!
Inflation at 2 percent? Never again lol
No they shouldn't, they have to stress the markets more, people still have luxury cars, going to events and purchasing expensive items, they should keep it like this for 5 years so everyone that renews their mortgage will be locked at 5% fixed.
Excellent 👍🏻
Very good
THAT WOULD BE THE BEST NEWS