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Rates Stay High. Will People Sell?

By Ron ButlerMarket OverviewSep 22, 2023 08:29

ca.investing.com/analysis/rates-stay-high-will-people-sell-200580163

Rates Stay High. Will People Sell?

By Ron Butler | Sep 22, 2023 08:29

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It’s been 18 months since the Bank Of Canada started their ultra aggressive Rate Hikes and historically by this point some kind of cracks begin to appear in Canada’s Economy and it finally looks like that is happening: Here’s a story about a mortgage that starts to become unmanageable and what happens next.

This video was originally posted on The Angry Mortgage Podcast YouTube channel

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Comments (6)

Warren Henley Sep 25, 2023 12:18

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Dont sell, whats your alternative? High rents? Try and get a roommate, anything to help with increased payments

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Petru Varga Sep 25, 2023 9:33

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People using up all their cash reserve until no money left to pay high price for goods and services . Then there will be no demand, so prices will come down. Canadians will become poorer in the process and will look elsewhere for a better living standard.

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William Nunn Sep 24, 2023 23:30

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This guy has no advice to give just a fear monger.

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Dev Persaud Sep 24, 2023 23:30

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don't watch this jerk

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Wissam Bawab Sep 24, 2023 11:40

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how do you control inflation when inflation is being caused by external factors. if you want to control inflation you will have to remove or at least decrease the amount of tax we pay for a liter of gas. you bring energy costs down and inflation goes down . also the war in Ukraine has to end.

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JoeMoney Sep 24, 2023 11:27

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Everything is fine nobody will sell you for cheap houses in Toronto are the same but now your screwed waiting because rates were 1.50% now 6%

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Zafar Hussain Sep 24, 2023 11:17

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People cant fight with the central banks. The FED has not many options to control inflation. The liquidity has to go short in the coming two years to lower the inflation. Economy will go through a long recession and over 30% of people has to go broke for the economy to get into an affordable shape. Its bitter but thats the only truth. We have to sink to rise again.

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Central Bank Rates

	Central Banks		Interest Rates	Next Meeting
		BOC	5.00%	Jan 24, 2024
		FED	5.50%	Dec 13, 2023
		BOE	5.25%	Dec 14, 2023
		ECB	4.50%	Dec 14, 2023
		SNB	1.75%	Dec 14, 2023
		RBA	4.35%	Jan 02, 2024
		RBNZ	5.50%	Feb 28, 2024
		BOJ	-0.10%	Dec 19, 2023
		CBR	15.00%	Dec 15, 2023
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		PBOC	3.45%
		BCB	12.25%	Dec 13, 2023