Today: Rates, then News, Then Your Mortgage Product of The Day
First, let’s get to Rates, Thursday January 30, 2025:
Important note: These are indicative rates only. They are basically what I’m seeing around the market and what I can offer. Rates are subject to change at anytime. Rates are very unpredictable. Everyone’s rate is deal dependent, too.
4.19% High Ratio Insured, 5 year fixed
P-0.90% – high ratio insured (currently 4.30%)
4.49% 3 year fixed uninsured
Want to know the difference between insured and uninsured? I’ll do a blog post soon, so stay tuned. In the meantime, if you have a deal to run by me, just call me on my cell. 2508587160
Starting off with the theme of the hour: Trump and tariffs!
Seems like Trump read my article from Tuesday (see blog from Tuesday, Jan 29th) and has since decided that maybe doing this Tariffs thing is a really bad idea. See front page of today’s Globe and Mail.
Yep, Trump’ll probably back off of this tariffs kick because he realizes that he can’t just throw the dice on the Global economy. It’s not a for sure thing, yet. I’m thinking that if he backs off of this Tariff threat, which he probably will, his “negotiation” style will only have made him look like the doofus he is. All posturing.
In the meantime, he’ll have made us realize that we (Canadians) have to build a stronger economy that isn’t overly dependent on our neighbor to the south. There’s lots of other countries to trade with and open up channels for cross-border business.
Let’s start putting the plan B in place now, don’t-cha think?
This from the front page of the Report on Business, January 28th, 2025.
Know what I thought right away? Houses don’t drop in value like this, generally. So for anyone that comes to me and keeps touting that the stock market is such a great place to invest, and they make so much money on it, I generally return to the tried and true. Real estate.
We just don’t get these kind of one day drops in real estate values. Tech companies do.
I just think there is a place for everything. Some of your portfolio should be in the stock market, sure. But that should be split up over lots of different companies, and safe companies too. More on investing as we go. And remember, I’m not any sort of licensed financial advisor (but I do know lots about this stuff and read, a-lot)
What can I say here that hasn’t already been said?
Prices on food could go up because of our weak dollar. Headlines are being repeated. But really, our dollar has not really dropped that much in the face of our dropping rate and the Trump election. If we look at this since May of 2021, our dollar was at .83 USD, and now we are down to .69 USD.
Doesn’t seem as cataclysmic as some people are making this out to be.
Lots of folks out there are needing bridge financing, but not really. You see, they want to purchase a house before they sell theirs. A bridge is technically done once you’ve sold your existing home and it’s gone unconditional, and you just need to “bridge” the dates.
When someone hasn’t sold their home, they need: 2 mortgages. One approved against the existing home, for the downpayment on the new home, and a mortgage on the new home.
We strategize this stuff all the time with clients, and we explain our strategy in great detail when talking to people.
If you or anyone you know are in this situation, have them give me a shout, or book into my calendly.
(article sent out to newsletter distribution list on January 28, 2025) You heard it here, first! I scrambled today’s newsletter together to beat the crowd, ahead of the BoC rate cut tomorrow. You heard it here first, people! I might be totally wrong in my prediction, but hey, nothing ventured, nothing gained, right? It wouldn’t […]
(article originally sent out to newsletter distribution list on January 19th) I thought I’d start out by recognizing some of the good, and not so good feedback I’ve been getting for the blog lately. It’s mostly good, which is so encouraging! Starting with the good, thanks J for the wonderful feedback that made my evening: […]
To get things started, I wanted to thank Kelsey G for sending through this picture of a riveting scrabble board that was inspired by my last weekend update in late November. Thanks Kelsey, you made my day! Kelsey became a subscriber after her parents forwarded my blog to her. I always love all the great […]