this post was submitted on 23 Jun 2023
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What to watch for mortgage rates (www.theglobeandmail.com)
submitted 1 year ago* (last edited 1 year ago) by sbv@sh.itjust.works to c/canada@lemmy.ca
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Any reprieve from the rate pain will depend heavily on four developments:

  • Higher unemployment (Next jobs report: July 7)
  • Slowing GDP (Next GDP report: June 30)
  • Tumbling core inflation (Next inflation report: June 27)
  • Easing home values (Next real estate board reports: first week of July)

The BoC interest rate announcement on July 12 is probably pretty significant too. 😬

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[–] Chatotorix@lemmy.world 1 points 1 year ago* (last edited 1 year ago)

I am very lucky that I got only 25% to pay left on my GTA suburb detached house - got it 12 years ago just before prices went cuckoo for cocoa puffs - but even then the variable payments are getting outta hand. Already thinking of doing some drastic changes to our lifestyle in order not to deplete our rainy day fund.