Skip to main content

Are Mortgages Rates in Canada Indicating the Onset of a Recession?


Hey there! In this YouTube video, you'll catch mortgage broker Dion Beg from Kanga Mortgage and me, Gary McGowan, a realtor with Keller Williams, diving into a chat about the rising unemployment rates in Canada, the current state of interest rates, and the shortage of new construction. We're breaking down how all of these factors could potentially impact the Canadian economy. Stay tuned for some insightful perspectives! 🏢📈🇨🇦 Download the Buyers, Sellers and Negotiation Guides here: Gary A. McGowan is a licensed REALTOR® on the Toronto Regional Real Estate Board. Agent Innovation, your ultimate Realtor Support Lead Gen partner! Weekly Real Estate Podcast about the strange, funny, insightful things that happen as a Realtor and Investor, Link to podcast: Cool T-Shirts Here: 10% Discount Code: CHATTER10 Download My Property Proforma Template Let’s have a ZOOM Coffee ☕️ to Grow your Business Follow Gary on Instagram 🤳 ------- Powered By: ✅ Ecamm Live: ✅ Restream: ✅ Royalty Free Music: ✅ Tube Buddy, Get One Month Free ✅ Gear I Use: 😎🔥🚀 Thanks for watching!!! ------- DISCLAIMER: This video and description contains affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. But don't worry, it doesn't cost you anything extra 🤙🏼...(read more)



BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
Is Canada Entering A Recession? Mortgage Rates are Going... As the world faces economic uncertainties caused by the global COVID-19 pandemic, many countries have been grappling with the possibility of entering a recession. Canada, with its interconnected economy, is not immune to these concerns. The nation has been experiencing a roller coaster ride over the past year, leading to questions about whether it is on the brink of a recession. One significant factor affecting the Canadian economy is the mortgage rates. Let's examine the current situation and determine whether Canada's economic outlook is pointing towards a recession. Mortgage rates play a crucial role in the overall health of a country's economy, particularly one like Canada where housing is a significant driver of growth. As of late, Canada has been witnessing moderate increases in mortgage rates. This trend is partially a result of the Bank of Canada's cautious approach in raising its overnight lending rate coupled with global factors, such as inflation pressures and fluctuations in international financial markets. While an increase in mortgage rates may not automatically signal a recession, it does impose potential challenges for borrowers and the real estate market. Higher mortgage rates lead to increased borrowing costs, making it more expensive to buy a home or take out a loan for other purposes. This reduction in affordability tends to dampen demand, eventually affecting housing sales and construction activity. A slowdown in these sectors can have a ripple effect throughout the broader economy, signalling turbulent times ahead. However, it is crucial to consider the broader economic indicators before jumping to conclusions. Canada's economic fundamentals remain relatively stable. The country's unemployment rate has been gradually decreasing, and employment levels are bouncing back from the pandemic-induced lows. Additionally, consumer spending has shown resilience, as retail sales have rebounded in recent months. This demonstrates that despite the challenges, Canadians are still actively participating in the market, which could help mitigate the impact of rising mortgage rates. Furthermore, the Canadian government has implemented various stimulus packages and financial aid measures to support individuals and businesses affected by the pandemic. These measures help to stabilize the economy and provide a sense of security during this uncertain time. The government's ability to respond swiftly and effectively to economic challenges contributes to Canada's overall resilience, reducing the likelihood of a recession in the near term. Nonetheless, it is crucial to remain vigilant and monitor economic developments closely. The global recovery from the pandemic remains uncertain, and any significant shocks in the financial markets could impact Canada's economy. Additionally, inflationary pressures and changes in government policies can influence mortgage rates, posing potential risks to the stability of the housing market. In conclusion, while Canada is facing challenges related to increasing mortgage rates, it is not necessarily entering a recession. The country's economic fundamentals, including decreasing unemployment rates and resilient consumer spending, suggest a certain level of stability. Furthermore, government support measures have played a crucial role in mitigating potential economic downturns. However, vigilance and continued monitoring remain vital to understand the evolving economic situation and ensure timely responses if needed. https://inflationprotection.org/are-mortgages-rates-in-canada-indicating-the-onset-of-a-recession/?feed_id=129410&_unique_id=64e28546543da #Inflation #Retirement #GoldIRA #Wealth #Investing #bankofCanada #bankofcanadaannouncement #bankofcanadainterestrate #bankofcanadamonetarypolicy #bankofcanadamortgagerates #canadaeconomycollapse #canadaeconomydocumentary #canadainflationdata #canadainterestrates #canadarealestate2023 #canadarecession #canadaunemploymentrate #canadianeconomycrash #canadianeconomyisdestroyedasoftoday #canadunemploymentrate #interestrates #mortgagerates #mortgagerenewal #realestate #realestatecanada #RecessionNews #bankofCanada #bankofcanadaannouncement #bankofcanadainterestrate #bankofcanadamonetarypolicy #bankofcanadamortgagerates #canadaeconomycollapse #canadaeconomydocumentary #canadainflationdata #canadainterestrates #canadarealestate2023 #canadarecession #canadaunemploymentrate #canadianeconomycrash #canadianeconomyisdestroyedasoftoday #canadunemploymentrate #interestrates #mortgagerates #mortgagerenewal #realestate #realestatecanada

Comments

Popular posts from this blog

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'