Navigating A Bank of Canada Cut- The Return of Variables and the Risks in Variable Rate Mortgages?

Welcome back to another episode of Finance Fridays! This week, we tackle the conversation around variable rate mortgages making a comeback as we await the news from the Bank of Canada on that elusive rate cut that could be coming as soon as June or July. At the end of the day, many Canadians still believe that the Bank of Canada will be cutting at some point in 2024 and potentially much more by 2025.
Selecting the right variable mortgage in this environment is critical because not all variable-rate mortgages are the same. Some of these variable rate mortgages come with different ways and mechanisms of being calculated, and you may not get the discounts if the Bank of Canada cuts. This week, we explore the differences in variable rate products and compare them with fixed-rate mortgages. We'll discuss what you should consider, especially if you're approaching mortgage renewal at some point in 2024 or even 2025.
Once again, thanks for clicking and watching! Don't forget to subscribe and share the video. If you want to get more information about your mortgage, please feel free to reach out to us at InTouch Mortgage Solutions and download our free app in the description box below.
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DISCLAIMER: Please be aware that the information presented on this channel is purely for entertainment purposes and should not be regarded as financial advice. We strongly recommend consulting a mortgage professional for personalized guidance regarding your circumstances.

[@Wolfpack1298--3]

Thanks for the information

[@intouchmortgages]

My pleasure

[@renatovenuto296]

👌