The Bank of Canada has increased interest rates another fraction. Apparently the economy is doing well and everything is just fine. The real estate market is completely overheated but let’s not focus on that. Instead, let’s all thank prime minister with the best hair and celebrate.
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Sources Used in This Video:
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The path for Canadian interest rates this year goes right through Donald Trump | Financial Post
http://business.financialpost.com/news/economy/bank-of-canada-raises-interest-rate-to-1-25-highest-in-almost-a-decade
Big Six have now all raised mortgage rates as Bank of Canada decision looms | Financial Post
http://business.financialpost.com/real-estate/mortgages/big-six-have-now-all-raised-mortgage-rates-as-bank-of-canada-decision-looms
Best Mortgage Interest Rates - Find Today's Lowest Variable & Fixed Rates
https://www.ratehub.ca/best-mortgage-rates
3, 4, 5, 7 & 10 Year Closed Term Mortgages | Scotiabank
http://www.scotiabank.com/ca/en/0,,216,00.html
BUSINESS REPORT – The Bank of Canada’s interest rate hike has made it all the more difficult for home buyers - BC | Globalnews.ca
https://globalnews.ca/news/3970187/business-report-the-bank-of-canadas-interest-rate-hike-has-made-it-all-the-more-difficult-for-home-buyers/
Rising mortgage rates unlikely to slow down hot Toronto housing market | Toronto Star
https://www.thestar.com/business/2018/01/17/rising-mortgage-rates-unlikely-to-slow-down-hot-toronto-housing-market.html
Staggering share of Canadians fear bankruptcy if interest rates rise much more - National | Globalnews.ca
https://globalnews.ca/news/3962467/credit-card-debt-savings-canadians/
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Bank of Canada
https://www.bankofcanada.ca/
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Such a small amount can make a HUGE impact on people finances. I'm not allowed to talk about it because people seem to get really offended. Oops. Just did.
What do you think about the impact of central banks increasing rates? (Any country)
I really appreciate the effort and the truth you put into your posts. I guess they need to screw as much money out of the savings of the few who have them, before banks collapse. There has been no real money in them for years, which is why they are doing all they can to eliminate cash.
Absolutely. They are creating this mess and as you mention, siphon off our wealth to ensure we'll be poor when the monetary system collapses.
We are at the end of the easy money cycle. Interest rates rising is just the beginning. Debt will be less easily available and more expensive. Rising interest rates will also destroy many derivatives resulting in a cascade of bankruptcies and vanishing money. There is a giant sucking sound, and it's the sound of debt money being removed from the system. Any leveraged asset (cryptos, stocks, bonds, property) will be annihilated while solid none debt related assets will become the go to safe haven. The fact that debt has been used to suppress precious metals will likely make the upside move even more astonishing. It might not happen tomorrow but at some point there will be shock and awe in the PM market as they respond to collapsing assets, built on a crumbling foundation of debt.
It's going to be wild, there's no doubt.
Interest rates should be way higher, stock/home prices should be way lower
Completely agree. Bring reality back.
It's amazing what just a small percentage increase im the rate on debt can do to people's finances. And canada isn't just raising rates on themselves. Many real estate companies in the US get mortgages through Canadian banks. Watch out for the ripple effect.
No doubt! People are right at the edge and they're going overboard!
My friend is a realtor and he told me that most people use a private lender instead of commercial banks to avoid new mortgage regulations. This is just insane but we can't blame them because our leaders failed to prevent that bubble from hapenning. These people just need a shelter to live in but they can't afford it no more.
Good point. People literally can't go anywhere outside of the dangerous areas that are affordable.
Thanks TheRidiculedGPS
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