📈📚🇨🇦 Join The Investing Academy Today - bit.ly/theinvestingacademy Thanks for watching! :D Don't forget to drop a LIKE & SUBSCRIBE if you want to learn more about financial education in Canada!
FYI… we bought our house close to 25 years ago… 6% interest rate was a deal back then! Life goes up and down, exactly like interest rates along the years. Great video Brandon!
Boomer here. I remember getting 11% on my savings at the same time as my variable rate mortgage was charging me 22.5% interest. Back then (early 80s) in Ireland, all available (to regular people) mortgages were variable! It doesn’t matter if the interest is high or low, bottom line is the banks ALWAYS charge more than they pay. When comparing saving rates back then to now, it’s important to look at the flip side also.
This helps a lot actually. I’ve been trying to learn about this type of stuff for a long time but I always end up sort of confused at the end of the day. Thankfully each learning experience makes it a little clearer for me so thank you for being part of that process Brandon! :)
It would be interesting on seeing a video on potential bank bail ins rather then bail out which happenef during the USA financial crisis. I'm seeing more and more ppl talking about bank bail ins when they take your money as they pay individuals interest and the ppl depositing are creditors to the bank, what's your thoughts on this?
I completely agree with your point that we lend money to the bank when we keep in a savings account. If you don't need that money right away, I suggest you put it in a GIC right now because interest returns are high with the increases in interest rates! If you might need that money in the short-term, I suggest looking at a credit unions where their savings accounts returns are much higher than the big 5 banks!
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📈📚🇨🇦 Join The Investing Academy Today - bit.ly/theinvestingacademy
Thanks for watching! :D Don't forget to drop a LIKE & SUBSCRIBE if you want to learn more about financial education in Canada!
FYI… we bought our house close to 25 years ago… 6% interest rate was a deal back then!
Life goes up and down, exactly like interest rates along the years.
Great video Brandon!
Great job Brandon, the whiteboard was a nice touch.
If mortage rate is above 5%, it will be painful for Canadian housing market, which is needed, but painful...
Thanks for the video
Was considering investing in some ETF funds but with the GIC rates around 4.5-5% I am torn.
What’s 5 Canadian index fund to DCA until I retire?
Life is already so sad with current interest rate, will be horrible and will not be able to live the stress if it increases
Great to know how interest rates work. Love your way of explaining 😀
thank you .
You’re welcome :)
Nice video Bran, always take away a little nugget of info with your content
Thanks
Boomer here. I remember getting 11% on my savings at the same time as my variable rate mortgage was charging me 22.5% interest. Back then (early 80s) in Ireland, all available (to regular people) mortgages were variable! It doesn’t matter if the interest is high or low, bottom line is the banks ALWAYS charge more than they pay. When comparing saving rates back then to now, it’s important to look at the flip side also.
plz clarify that policy interest rates = overnight interest rates????
This helps a lot actually. I’ve been trying to learn about this type of stuff for a long time but I always end up sort of confused at the end of the day. Thankfully each learning experience makes it a little clearer for me so thank you for being part of that process Brandon! :)
Very nice video thank you for your explanation!
Another amazing video by the man himself🙏🙏
My man!! ❤️
great conten.....t where did you study from?
CD means certificate of deposit
Correct!
I watched the entire video. Thanks Brandon!
You rock! Thanks man :)
Thanks for always putting such informative stuff! I keep on recommending your channel and "new money" to my friends. Keep up the good work buddy!
Once the bank increases it's lending rate, as it did today (Sept 7), how long is it before the GIC interest rates increase?
It would be interesting on seeing a video on potential bank bail ins rather then bail out which happenef during the USA financial crisis. I'm seeing more and more ppl talking about bank bail ins when they take your money as they pay individuals interest and the ppl depositing are creditors to the bank, what's your thoughts on this?
Nice overview Brandon. We can all look forward to a little pain in the overall economy . Let's look at it with rose colored glasses though 😅
I completely agree with your point that we lend money to the bank when we keep in a savings account. If you don't need that money right away, I suggest you put it in a GIC right now because interest returns are high with the increases in interest rates! If you might need that money in the short-term, I suggest looking at a credit unions where their savings accounts returns are much higher than the big 5 banks!
Big impacts on your variable mortgage rate?
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