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Brent Richardson
Principal Mortgage Broker/ Owner (Lic. # M08006143), Certified Financial Planner (CFP) Altrua Financial Inc. Lic. #13005
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Ground Level Updates on Mortgages and the Housing Market, before it hits the news
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June headline CPI/inflation came in slightly higher at 1.9% vs 1.7% in May
The BoC preferred measure of core inflation remains elevated at 3% indicating the BoC is likely to hold
Expectations are for inflation to continue nudging up, given deficit spending and protectionism
What was once the crown jewel of Canadian tech is turning into rental apartments
Revealing of how Canada has evolved over the past 20 years
Former Blackberry offices could be transformed into thousands of apartments https://www.ctvnews.ca/kitchener/article/former-blackberry-offices-could-be-transformed-into-thousands-of-apartments/?cid=sm%3Atrueanthem%3Actvkitchener%3Atwitterpost%E2%80%8B&taid=68759a21d530ed0001d57043&utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=twitter
Fixed mortgage rate hikes of 0.10-0.20% appear imminent as 5 YR bond yields surged above 3% on employment strength in June
Financial markets are no longer fully pricing in a BoC rate cut in 2025, however this could change
Tuesdays inflation report is expected slightly higher
BREAKING: 🇨🇦 unemployment in June surprised, falling by 0.1% to 6.9%
Despite a new round of 🇺🇸 trade threats, bond yields leapt to recent highs of nearly 3%, increasing fixed mortgage rate pressure
🇺🇸 can beat any country one on one in a trade negotiation
But can you imagine if the rest of the world coordinated in a retaliatory tariff and boycott of 🇺🇸 brands?
They’d shrivel
How do the top 0.1% of Canadians grow and preserve wealth long term?
1. Borrow: Against existing stocks/corporate assets at extremely low rates, reducing income and taxes
2. Insure: Said borrowings with a whole life policy upon passing
3. Trust: Assets avoid taxes on passing
What will the Bank of Canada do over the next 2 years?
The 2 year Canada Bond Yield is an approximate guide, projecting the average BoC overnight rate over 2 years
At 2.7%, it's saying one cut, further out
~2.5% or lower could spell 2+ cuts
Higher than 2.75%? Watch out!
Guaranteed, this will not affect age 65+ pensions or tax advantages in any meaningful way
CANADA’S FINANCE MINISTER HAS ASKED MEMBERS OF THE CABINET TO FIND TEN’S OF BILLIONS OF DOLLARS IN SPENDING CUTS PER BLOOMBERG
CD Howe projects a $92 Billion budget deficit in Canada, more than double the Governments guesstimate from ‘24
Along with strong US jobs data, Bond Yields spiked higher, adding upward pressure to fixed rates
Financial markets now see the next BoC cut pushed off until December
We are Mortgage Brokers proudly serving customers from 5 locations in Ontario.
Kitchener/ Waterloo (Head Office)
In Kitchener Waterloo Call: 1-877-248-9210
Hamilton
In Hamilton Call: 905-538-0677
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Altrua Financial Inc. is exceptionally committed to respecting the privacy of individuals and recognizes a need for the appropriate management and protection of any personal information that you agree to provide to us. We will not share your information with any third party outside of our organization, other than as necessary to fulfill your mortgage request.