Orlando Fantini
3 Speedvale Avenue East N1H1J2 Guelph, ON, Canada

The new qualifying rate increases Canadians maximum mortgage by 1.5%. That means, if you already qualified for a $300,000 mortgage, you now qualify for $304,500....00. The change won't make much of a difference to anyone, but it is a step in the right direction. Learn more by reading my new blog post: https://www.clearhome.ca/links/?b=PaulGazzola&l=3536

An excerpt from this week's Bloomberg News desk regarding thoughts on what to expect with respect to interest rate trends in Canada for 2019........ ------------------------------------------------------------------------------ When It Comes to Rates, What Are Central Banks Going to Do Next?... Bloomberg News January 14, 2019 8:00 PM Updated on January 15, 2019 7:48 AM Bank of Canada Current overnight lending rate: 1.75% Forecast for end of 2019: 2.25% The Bank of Canada is sticking to its view that more interest rates increases will be needed on top of five hikes over the past two years, but there seems to be a lot less urgency than there was a few months ago. Canada’s oil-producing regions were hit hard by last year’s slide in crude prices, leading the BOC to sharply mark down the near-term outlook for the economy at its latest rate decision. It also softened its tone on future moves, saying they would only happen over time. Still, the soft patch in growth is seen as a temporary one, and policy makers expect the economy to rebound later this year putting them back on the hiking path. What Our Economists Say: Increasing global risks and slumping energy prices should keep the Bank of Canada on hold for all of 2019. The housing market and consumer spending may be moderating more than expected and wage growth has softened recently. This reduces the urgency for the central bank to stay ahead of inflationary pressures resulting from strong economic growth and a historically tight labor market last year. Tim Mahedy

A fake account was created under my name. Please disregard any requests or messages you may have received in the last 24hrs. The account has been taken down.

Is anyone in Ottawa listening?

Although both have factored in the slowdown in real estate sales and borrowing, continued interest rates hikes will have the larger impact going forward......

With more lenders starting to use the full credit limit rather than the outstanding balance to calculate monthly debt service obligations, I am finding myself having to seek out lenders from our data base that are not yet on side with this new rule change.