Angry Mortgage SPECIAL GUEST: Rob Campbell | Canada Real Estate | EP. 96
Oct 29, 2024
Rob Campbell III, a seasoned mortgage broker from Guelph, Ontario, returns to share insights into the evolving mortgage landscape. He discusses the potential for Emergency Rate Cuts in December and the implications of recent CMHC rule changes. Rob dives into how these shifts could impact real estate prices and rental rates amid surprising immigration policy changes. He also candidly critiques Ontario's political decisions affecting the housing market and the challenges first-time homebuyers face in today's economy.
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Transcript
Episode notes
Bank of Canada Rate Cut
- The Bank of Canada's 50 basis point rate cut signals a potential shift in monetary policy.
- Further cuts are anticipated, deviating from the previously assumed 3% neutral rate.
Real Estate Market Reaction
- The Bank of Canada's rate cuts have increased interest in the real estate market.
- However, potential buyers are hesitant, waiting for rates to bottom out.
CMHC Rule Changes
- To qualify for a $1.5 million insured mortgage under the new CMHC rules, you need a $352,000 family income and $150,000 down payment.
- All involved dates must be after December 15th.