This video examines the Bank of Canada's recent decision to reduce interest rates by 25 basis points—the third rate cut in a row. While this cut primarily affects variable rates and lines of credit, fixed mortgage rates have already adjusted and are now in the fours, a notable drop from earlier this year.
Managing Partner & Mortgage Agent Jason Friesen of Outline Financial and Broker of Record at Fox Marin, Ralph Fox, discuss the implications of these rate cuts on housing affordability and market sentiment while also addressing the lingering concerns surrounding job security, the economy, and how weakness in the US economy could influence future rate cuts here in Canada.
____________________________________________________
Speakers:
Ralph Fox (Co-Founder and Broker of Record at Fox Marin)
Jason Friesen (Mortgage Agent & Managing Partner, Outline Financial)
