Tim Bernes Saskatoon Mortgage Pro 306 262 4154

With the Bank of Canada's rate reduction today everyone is praising this as good news......here is a different perspective.
*Every Bank Economist except TD called for 50 BPS & Tiff delivered like good little slave. This is great for Variable Mortgages but horrible for the Canadian economy.
When Central Banks enter the cutting cycle following a sharp rate run-up to break inflation the idea is constant 25 bps cuts to show no panic about economic decline 50 BPS means bad news is coming, an economic slowdown, rising unemployment & all the pain that comes with it - buckle up folks & if you have a mortgage renewal coming up you should act now - call me anytime 306-262-4154 [email protected]

https://www.mpamag.com/ca/mortgage-industry/industry-trends/did-the-bank-of-canada-mislead-borrowers-on-low-interest-rates/435105?utm_source=GA&e=dGltLmJlcm5lc0Btb3J0Z2FnZWdycC5jb20&utm_medium=20230205&utm_campaign=MBNW-Weekend-20230205&utm_content=5B354C58-6518-4F95-987F-9F17A51ECA7B&tu=5B354C58-6518-4F95-987F-9F17A51ECA7B

Did the Bank of Canada mislead borrowers on low interest rates? Many Canadians who took on mortgages in 2020 are now experiencing financial strain. Who's to blame?

Canadians will spend an estimated $68.6 billion this year paying interest on the country’s combined federal and provincial government debt of $2.1 trillion, more than the cost of providing major social programs and public services

Dan Knight on Twitter “ Canadians will spend an estimated $68.6 billion this year paying interest on the country’s combined federal and provincial government debt of $2.1 trillion, more than the cost of providing major social programs and public services ”

https://www.blacklocks.ca/inflations-all-ours-macklem/

Inflation’s All Ours: Macklem | Blacklock's Reporter Friday, October 7, 2022 by tom Inflation’s All Ours: Macklem Inflation in Canada is now home grown, Bank of Canada Governor Tiff Macklem said yesterday. Macklem and others for months had blamed rising costs on global developments: “Increasingly the inflation we’re seeing in Canada reflects wha...