Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
@HectorkanteАй бұрын
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
@PaulKatrina.Ай бұрын
in my opinion, it was much easier investing back in the 60s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
@ScottKindle-bk3hxАй бұрын
my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
@PaulKatrina.Ай бұрын
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
@maiadazzАй бұрын
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@nicolerose7639Ай бұрын
Our mortgage broker told us to go variable back when rates were 3.5, as a fist time home buyer I thought he was an "expert" ...all the wiser now
@pantherman4699Ай бұрын
I had the same issue... I will go with fixed forever now. Peace of mind matters.
@FunHockeyVideosАй бұрын
A mortgage broker is now considered an expert opinion? Cmon Bloomberg, you guys could have found a better guest...
@bdegrdsАй бұрын
How is someone who all day every day deals with mortgages plus a formal education not an expert?
@dirtlumpАй бұрын
@@bdegrds It would seem only 'not smart' individuals are breeding ? "Forecasting' of monetary policy trends as it relates to a "mort-gage" which loosely translated at Latin intends a "death-Pledge" to pay a Bank because you really don't own anything BUT a Mortgage.... regardless.... those skillsets would very clearly fall within the perview of actuarial analysis of Bond Markets/Global FX and macro fundamentals of either an economist with an advanced Phd Degree discipline or an Actuarial CIA designation in Canada with a specialization in trend analysis. Simple answer is NO.... a Mortgage 'Broker' is a salesman... Full Stop !
@DVinCanadaАй бұрын
@@bdegrdsbecause they don’t have any solid data to prove one mortgage is better than the other. All they say is it’s your decision which doesn’t help anyone. An expert would use data to build a model showing audience the break even points. “Variable interest would save you this much If interests rate drop this much and the chances is x%”, things like that.
@StephenRoss-po1rpАй бұрын
That’s what the good ones do
@central3425Ай бұрын
Oh yeah buyers are really waiting on the sidelines for an extra 25 bps
@jmjm1992Ай бұрын
Boc has done nothing for so long to bring down housing prices . Canada needs new boc Governor.
@gwarlowАй бұрын
Mortgage rates are not the problem. We had double digit rates in the late 1980s and people still were able to afford houses. The ridiculous increases in housing prices over the past few years, not directly tied to any economic indicators is the problem. Houses have become investment vehicles instead of simply places to live. So glad our house is almost paid off - can’t imagine those trying to buy one today. 😮
@cancerman3954Ай бұрын
So since CMHC had to issue 20 billion in long term bonds to stay solvent the next year is going to be interesting. What a shock it's going to be for some to find out that the 3 year locked in variable that you might not have paid off 1 dollar of principle.
@audittheauditorsАй бұрын
@@cancerman3954 Im sure they know that already from their monthly statements
@YvesStOngeАй бұрын
1000$ monthly more for me it suck ...
@MrJoeSomebodyАй бұрын
Ya that doesn’t make sense. Did you over spend on a home?
@as17ns22Ай бұрын
David Larock! Great insights, but the clash of patterns with that suit, shirt, tie combo bro.
@8bit_paulАй бұрын
8:00 yikes, I had no idea. Thanks, I'll be avoiding the big banks.
@RawdiswarАй бұрын
Jokes on these guys, already guarding my vegetable patch...
@8bit_paulАй бұрын
6:30 "at least pay an accelerated mortgage" - not an option based on the reality I see on the ground in Vancouver.
@dougiep2769Ай бұрын
B.o.c. cut will keep a few roofs over heads..not for long but a few..bottom line is prices need to crash..
@Relaxlifeisshort2Ай бұрын
Spoken like a renter Keep dreaming for the home prices to drop they wont People have been saying this since 1980 not going to happen GDP depends on the housing in canada whether you agree or not. People are still waitimg for a crash will not happen. Check out bonds markets Good luck educate yourself
@dougiep2769Ай бұрын
@@Relaxlifeisshort2 really.. I bought a house in Arizona in 2012 for 76 thou Canadian.. had the in ground salt water pool. All stamped concrete around the pool and both patios all raised bricked in gardens with tropical plants on timers...2 lots r.v. gate 2 car garage 2 bedroom 2 bathrooms..master bath had both a massive tub and also a shower.. Arizona sits on the border so lots of immigration there.. it also had incentivised people all make the wrong decisions loaning money till it crashes.. same is coming..
@dougiep2769Ай бұрын
@@Relaxlifeisshort2 ohh as far gdp.. I'm pretty sure your gonna see made in Canada and made in America starting next year happen a lot more.. Pierre and trump will introduce tariffs deregulate and start making something other then a new India here in canada
@Relaxlifeisshort2Ай бұрын
@@dougiep2769 again educate yourself US not the same. Shows you your education on realestate. Totally different here is a few pointers learn make notes. 1 st canada inly really has 2 markets vancouver and toronto and the rest dont realy matter most of population is all in sourhern Ontario Us has many options. 2nd the principle residents is tax free on gains in Canada in US its not they write off the intereat in the us 3 rd they have 30 year mortgages different math Get educated ask more question i will start charging. Learn I have been doing it for 30 years. Whether you agree or not about canada its fact. Good luck
@ST-fk3jzАй бұрын
@@Relaxlifeisshort2 house prices havent decreased since the 80s....hmmm i didnt know that
@sainathb3149Ай бұрын
The big reset must happen, the market forces are being manipulated for far too long.
@YvesStOngeАй бұрын
Nothing sale right now and interest is way to high ....
@GETLITUP69Ай бұрын
They need to keep interest rates unchanged....2.7% is not 2%, pretty easy math.
@user-um6kl3yv3fАй бұрын
Love BNN and everything I learn thank you !
@8bit_paulАй бұрын
2:50 "very comfortable" hmmm, that sounds subjective to me.
@kamalgrover758Ай бұрын
joe guy is smart. listen to him.
@ferriswheeler08Ай бұрын
"I have no conflict of interest in housing" - mortgage broker
@gajansiva9686Ай бұрын
😂😂😂 25 basis point , ridiculous 100 basis point will save everyone before go bankruptcy
@iamortgagesАй бұрын
👏🏽
@SeroSerereSeviSatusАй бұрын
1
@audittheauditorsАй бұрын
Inflation will be 2.3 ish next month. Expect further cuts
@vincentheslin9636Ай бұрын
I choose to believe this! Let’s go!
@jacobuszwanenburg1629Ай бұрын
Buy it in cash ! Be like many from outside of Canada. Never mind a mortgage just pay cash ! Foreigners are doing it by the neighbourhood so why not Canadians too. 😂😂😂😂😂😂😂 Open Canada to the world and ruin our own that’s what has been done with NO regard for Canadians.
@YvesStOngeАй бұрын
No one should trust anyone of you!!!!
@chriscowan6630Ай бұрын
Come on BNN....mortgage brokers are your "experts"....the quality of discussion around these important topics on your network is rapidly declining.
@Eric-lx8hpАй бұрын
Interest rate should be 10% MINIMUM
@MrJoeSomebodyАй бұрын
If you’re going to say something silly at least put the effort in to explain it
@PhatChinАй бұрын
At this point, variable is the way to go. Only if you MUST renew. Breaking your contract is probably not worth it.
@CristianEnacheRealtorАй бұрын
3.99% coming soon ❤
@Chris-se3ncАй бұрын
Is this guy really pushing fixed variable. The renewal crisis fire gasoline!