I'd love a couple of rate cuts before my mortgage renewal in February.
this post was submitted on 20 Aug 2024
79 points (97.6% liked)
Canada
7203 readers
355 users here now
What's going on Canada?
Communities
๐ Meta
๐บ๏ธ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
๐๏ธ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
๐ Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montrรฉal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown - Toronto Blue Jays
Basketball
- List of All Teams:
unknown - Toronto Raptors
Soccer
- List of All Teams:
unknown - General Community: /c/CanadaSoccer
- Toronto FC
๐ป Universities
๐ต Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
๐ฃ๏ธ Politics
- Canada Politics
- General:
- By Province:
๐ Social and Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
Same date for me, so I'm right there with you on the rate cuts
Can you get fixed rate mortgages there? I'm here in the United States and when I bought a house a couple of years ago, I specifically demanded to get a fixed rate mortgage, even though I knew it would cost slightly more in percentage terms. I knew that I wouldn't be subject to the whims of the jacking around of the central banks and rates.
Yes but Canadian mortgages have renewals on a schedule. 1,2,3,4,5,7,and 10 years are typical. Rates are fixed for that time period, then reset to market rate.
Please sir, I want some more [rate cuts].
They'll oblige. If there's one thing they hate more than inflation, it's deflation.
Can we recover the previous 3 years worth from George Weston? I'll take it back in pieces of skin.
Sure it's down, but is the price of food or homes down too?
Any positive inflation number means that prices are still going up. It is just a question of how fast.
So, lower inflation does not mean you should expect prices to fall. At best, it means you should expect them to go up more slowly.
Well inflation was only 6.8% in 2022 but house/land prices went up at least 40%. The mass city exodus is over yet house prices are still up there...