The next 60 days will be crucial for central banks and variable-rate mortgage borrowers
www.theglobeandmail.com
The predators central banks fear are inflation and expectations

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. 😬

  • riptwo@lemmy.ca
    0·
    2 years ago

    As someone with a renewal coming up in November, I guess I’m interested to see just how much danger I’m in. How exciting?

    • MacroCyclo@lemmy.ca
      0·
      2 years ago

      I had to go back and check. We are only 1 year into interest rate hikes. The maximum effect is probably going to be around year 3 or 4 when the majority of low interest mortgages have renewed into high interest.

      Good luck for yours. Things are going to get expensive!

  • Chatotorix@lemmy.world
    0·
    2 years 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.