The Bank of Canada's rate cuts are impacting Canadians' finances, with a significant drop in mortgages issued in Q1 2024. Housing affordability is expected to improve as interest rates decrease, but concerns arise over negative amortization and long loan terms.
Canadians getting more anxious about their finances as they await more rate cuts https://t.co/qXTitQ34nn https://t.co/i7dScVX1kr
ResearchΒ @BankOfCanada warns many mortgage holders will be poorer for years to come as mortgage rate hikes snowball thru household budgets.Β https://t.co/yIkXS6FqBT #cdnpoliΒ @CaFreeland https://t.co/XrSzcVI2Fs
Interest rate hikes will make many mortgage holders poorer for years to come, says @bankofcanada report. Researchers estimate by 2027 disposable incomes for borrowers will be lower. https://t.co/FKU33CsBun #cdnpoli https://t.co/MoRvZuQTqB
10,200 insured mortgages were issued in all of Canada in Q1 2024 Only 110 a day for a population of 40 million. Think about that. https://t.co/BQLYTTkgJk
Less than 10,200 insured mortgages were issued in all of Canada in Q1 2024 Think about that. https://t.co/VNca2cb6xm
Less than 10,000 insured mortgages were issued in all of Canada in Q1 2024 Think about that. https://t.co/UvhxVVnjQz
π¨ π¨π¦ Mortgage Time Bomb π£ $92B in negative amortization and nearly 50% of new loans stretching beyond 25 years! ππ½ https://t.co/Cy6hYTmUcg
π₯π₯239,000 MLS listings in Canada only 1,100 new mortgages being approved daily. Welcome to the Flushening. https://t.co/48Rhngoaj0
π₯π₯219,000 MLS listings in Canada only 1,100 new mortgages being approved daily. Welcome to the Flushening. https://t.co/vaFZJdEBm1
π¨BREAKING The number of mortgages taken out in Canada falls to the lowest number since the Bank of Canada began recording Under 100,000 mortgages were issued in Q1 2024 https://t.co/32c2nqV9KG
Canadians are getting more anxious about their finances as they await more rate cuts from the Bank of Canada https://t.co/qXTitQ34nn https://t.co/udR5WJg8Ru
Housing affordability to improve in Canada as interest rates come down, BMO says https://t.co/EgI1SA1CJH https://t.co/aYwZxGTmTe
Posthaste: Canadians not out of the woods on debt yet https://t.co/Ny5mnA8yGl https://t.co/Dt81kUBlEq