Can we still avoid a recession?
Can we still avoid a recession?
If inflation stalls out and mortgage rates fall toward 5%, we can stop the bleeding in the one sector that is in a recession.
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Lower mortgage rates can help stimulate the housing market by making it more affordable for people to purchase homes. When mortgage rates are low, it can make it easier for people to qualify for a mortgage and afford the monthly payments. This can help to increase demand for homes, which in turn can help to boost home prices and stimulate economic activity.However, it's important to note that lower mortgage rates alone may not be enough to stop a housing recession. Other factors such as high une...
Lower mortgage rates can help stimulate the housing market by making it more affordable for people to purchase homes. When mortgage rates are low, it can make it easier for people to qualify for a mortgage and afford the monthly payments. This can help to increase demand for homes, which in turn can help to boost home prices and stimulate economic activity.However, it's important to note that lower mortgage rates alone may not be enough to stop a housing recession. Other factors such as high une...
Rapidly rising interest rates and other economic headwinds mean itโs becoming increasingly likely Canada will enter into a recession. Thatโs the prediction from RBC senior economist Joshua Nye, who noted, โWith a soft landing becoming more challenging, our base case assumes mild recessions in most of the economies we track.โ Nye noted that the Canadian economy had sustained good momentum up until May GDP posted a 0.2% decline. Thanks to that previous momentum, Nye predicts a โsolidโ...
Rapidly rising interest rates and other economic headwinds mean itโs becoming increasingly likely Canada will enter into a recession. Thatโs the prediction from RBC senior economist Joshua Nye, who noted, โWith a soft landing becoming more challenging, our base case assumes mild recessions in most of the economies we track.โ Nye noted that the Canadian economy had sustained good momentum up until May GDP posted a 0.2% decline. Thanks to that previous momentum, Nye predicts a โsolidโ...
The 30-year average decreased for the second week in a row but still is almost 2% higher than its year-end 2021 level.
The 30-year average decreased for the second week in a row but still is almost 2% higher than its year-end 2021 level.
Housing analyst Logan Mohtashami explains how high mortgage rates will go in 2022 and why rising rates are good for buyers.
Housing analyst Logan Mohtashami explains how high mortgage rates will go in 2022 and why rising rates are good for buyers.
Purchasing an affordable home in Canada is a more difficult task than ever. Post-pandemic home prices in Canada have ballooned 50% in just three years.
Purchasing an affordable home in Canada is a more difficult task than ever. Post-pandemic home prices in Canada have ballooned 50% in just three years.
Earlier this month, the Bank of England scrapped its mortgage affordability stress test. With mortgage rates now north of 4% and 5%, and presumably approaching their peak for this rate-hike cycle, some are wondering if changes to Canadaโs stress test are overdue. The stress testโs history The mortgage stress test requires both insured and uninsured mortgage borrowers to prove they can meet monthly mortgage payments based on a rate of 5.25% or two percentage points higher than their contract...
Earlier this month, the Bank of England scrapped its mortgage affordability stress test. With mortgage rates now north of 4% and 5%, and presumably approaching their peak for this rate-hike cycle, some are wondering if changes to Canadaโs stress test are overdue. The stress testโs history The mortgage stress test requires both insured and uninsured mortgage borrowers to prove they can meet monthly mortgage payments based on a rate of 5.25% or two percentage points higher than their contract...
The U.S. Federal Reserve announcement that it will raise its rates is expected to cause mortgage rates to continue going up.
The post How Much Higher Can Mortgage Rates Go? appeared first on Real Estate News & Insights | realtor.comยฎ.
The U.S. Federal Reserve announcement that it will raise its rates is expected to cause mortgage rates to continue going up.
The post How Much Higher Can Mortgage Rates Go? appeared first on Real Estate News & Insights | realtor.comยฎ.
The 30-year fixed mortgage rate averaged 5.13% for the week ending Aug. 18 โ down from 5.22% last week.
The 30-year fixed mortgage rate averaged 5.13% for the week ending Aug. 18 โ down from 5.22% last week.
The 30-year fixed mortgage rate averaged 5.13% for the week ended Aug. 18 โ down from 5.22% the prior week.
The 30-year fixed mortgage rate averaged 5.13% for the week ended Aug. 18 โ down from 5.22% the prior week.
After dropping to record lows in 2020 and 2021, mortgage rates are back up. Way up. While the past few weeks saw a reversal in the surge, at near 6%, current mortgage rates are still almost double what some homebuyers were paying in recent years. With soaring inflation and the possibility of further rate increases, some homebuyers are cancelling deals, and would-be homebuyers may be looking for ways to lower their rates. Here are five possible money-saving options. Consumers may be able to impro...
After dropping to record lows in 2020 and 2021, mortgage rates are back up. Way up. While the past few weeks saw a reversal in the surge, at near 6%, current mortgage rates are still almost double what some homebuyers were paying in recent years. With soaring inflation and the possibility of further rate increases, some homebuyers are cancelling deals, and would-be homebuyers may be looking for ways to lower their rates. Here are five possible money-saving options. Consumers may be able to impro...