Make Money Count: Recent Episodes
Cannect Inc.
Welcome to Make Money Count, a podcast focused on the Canadian economy, Real Estate, and your mortgage.
We’d love it if you’d join us as we explore options that put dollars back into the average Canadian’s pocket.
Subscribe for new episodes weekly!
What if the biggest banks in Canada showed up to the same party and couldn't agree on anything?
In this episode of Make Money Count, Marcus and Justin imagine exactly that: RBC, TD, BMO, and Scotiabank, all in one room, all asked the same question about where rates go next. Three of them show up with nearly the same answer. One of them shows up ready to argue.
We break down:
- Why RBC, TD, and BMO all point to weak labor force growth and US trade tariffs as the reason rates are likely on hold
- Scotiabank's outlier call for stronger growth and two rate hikes, and why this bank always seems to be the hawk in the room
- A chart on Canadian firms' long-run inflation expectations, and why it's holding steady even after a hundred-dollar oil price shock
- The role oil prices are playing behind the scenes in keeping inflation above target
- Why Justin is still making the case for variable right now, and the math behind that call
- Where mortgage rates actually stand today, and the real spread between fixed and variable
Four banks. One question. Only one real disagreement.
Watch till the end to find out which bank is the outlier, and what it means for your mortgage.
CanadaMortgage #MortgageRates #MortgageTalk #Cannect #MakeMoneyCount #CanadianEconomy
Is the Iran conflict quietly deciding your mortgage rate?
In this episode of Make Money Count, Marcus and Justin break down why a war most people have stopped watching is doing something nobody expected to bond yields, oil prices, and the rate you pay every month.
We break down:
- Why Trump's all in negotiating strategy worked on Canada, the EU, and South America, but is backfiring against Iran
- Live shipping data from the Strait of Hormuz and what 105 days of conflict actually look like on the water
- A day by day breakdown of July's bond market moves showing yields spiking before the news even breaks
- Why war usually sends bond yields down, and why this time the opposite is happening
- The hidden cost of political capital, and why Iran isn't paying it the way Trump is
- Where mortgage rates actually stand right now, and which competitor "best rate" claims don't hold up
Most people are still waiting for the news to tell them what's coming. Marcus and Justin already found it in the data.
Watch till the end. The gap between the market and the headlines is where the real story is.
CanadaMortgage #MortgageRates #MortgageTalk #Cannect #MakeMoneyCount #CanadianEconomy
Did Hollywood actually get mortgages right?
In this episode of Make Money Count, Marcus and Justin react to some of Hollywood's most famous mortgage moments, and the gap between fiction and reality is bigger (and smaller) than you'd expect.
We break down:
- What subprime really meant in The Big Short, and why it's not the same as today's A-minus or alt-A lending
- How that "bartender to boat owner" mockumentary clip wasn't far off from real predatory lending practices
- Why Jimmy Stewart's savings and loan speech in It's a Wonderful Life still holds up as a banking lesson
- The real cost behind a foreclosure, from both the investor's side and the homeowner's side
- The one rule that separates a smooth renovation loan from a Money Pit style budget disaster
This episode isn't your usual rate breakdown, it's Hollywood's biggest mortgage moments, fact checked by two people who actually do this for a living.
Watch till the end, you might never see these movies the same way again.
Is the Fed about to break your mortgage plans?
In this episode of Make Money Count, Marcus and Justin break down new Fed Chair Kevin Warsh's very first policy meeting, and why it didn't go the way most people expected.
We break down:
- Why Warsh, Trump's own pick, spent his first meeting talking about inflation instead of cutting rates
- How the Fed's "dot plot" flipped from pricing in a cut to pricing in a hike, and what that actually means
- Why Warsh says rates are too low for Wall Street but too high for Main Street, and why the Fed can't fix both
- How a stronger US stance puts pressure on the Canadian dollar, and why that could force the Bank of Canada's hand
- What RBC, TD, BMO, Scotia, and CIBC are each predicting for rates, and what it means for your mortgage choice
This episode isn't your usual headline recap, it's a real breakdown of how one Fed meeting can move your mortgage rate, fact checked by two people who actually do this for a living.
Watch till the end, you'll know exactly what to ask your broker next.
Is Canada sitting on the biggest real estate opportunity in years?
In this episode of Make Money Count, Marcus and Justin break down exactly what is happening in Canada's housing market, why prices are 20% off peak, and why most Canadians are still too scared to move.
We cover:
- Why housing is 20% off peak and what nine quarters of affordability improvements actually mean
- How fear and consumer sentiment are keeping buyers out of the market
- Why condos are trading at pennies on the dollar and who is already buying them
- The distressed real estate deals that smart money and foreign funds are quietly gobbling up
- Why the rental market is still under pressure and what it means for builders and investors
- The labor shortage risk nobody is talking about and why it matters for the future of housing
This episode is not about panic. It is about seeing the opportunity clearly before everyone else does.
Watch till the end. The housing market is shifting and the window that is open right now will not stay open forever.
Is Canada headed for a rate hike nobody saw coming?
In this episode of Make Money Count, Marcus and Justin sit down days before the Bank of Canada's June 10th meeting to break down exactly what's happening with interest rates, inflation, and your mortgage renewal.
We break down:
- Why a rate cut on June 10th is basically off the table
- How Canada ended up in a recession with inflation still rising
- What the Strait of Hormuz has to do with your mortgage rate
- Why your bank's renewal offer is likely insulting and what to do instead
- What the big banks are actually forecasting for rates in 2026 and 2027
- Why 40% of Canadian mortgages renewing this year is a bigger deal than most people realize
This episode isn't about panic. It's about being informed, prepared, and ahead of the people who just sign whatever mortgage renewal their bank sends them.
Watch till the end. The mortgage market is shifting and the decisions you make in the next few weeks could follow you for the next three years.
Is your bank quietly working against you?
In this episode of Make Money Count, Marcus and Justin get into the mortgage conversation most Canadians never get to have. With bond yields climbing and fixed rates on the move, knowing what to do and when to do it could be the difference between a great mortgage and an expensive mistake.
We break down:
- Why you should never trust your bank to give you the best mortgage rate
- Fixed vs variable and the one move Marcus is recommending right now
- Why the three year fixed is the smartest play in this market
- When to start the mortgage conversation and why most people wait too long
- How a salaried mortgage broker always gets you a better deal than your bank ever will
This episode is not about theory. It is about the real conversation that happens when you actually call a mortgage broker and ask the right questions.
If your renewal is coming up in the next six months, this one was made for you
Is your mortgage renewal about to get a lot more expensive?
In this episode of Make Money Count, Marcus and Justin dig into Canada's April CPI numbers and why the story behind the data is one every Canadian borrower needs to hear. Gas prices at a record high, groceries quietly bleeding your budget, and fixed rates with nowhere to go but up. A lot is happening right now and most people do not even see it coming.
We break down:
- Why April CPI is being driven by gas and food and what that means for interest rates
- What 40% higher gas prices since the war actually means for your monthly mortgage payment
- How a conflict in the Middle East is directly moving Canadian fixed rates right now
- Why the Bank of Canada may surprise everyone and hold rates despite the pressure
- The exact mortgage move Marcus is recommending to every Canadian borrower today
This episode is not about panic. It is about getting ahead of what the data is already telling us, understanding what is really at stake, and making the right call before the window closes.
If you have a renewal coming up in the next few months, do not scroll past this one.
Is the jobs report even real anymore?
In this episode of Make Money Count, Marcus and JT sit down to talk about something that's been quietly building behind the scenes, and the cracks are getting harder to ignore. From a federal agency that's lost its data collectors to a treasury yield that hasn't been this high in years, a lot is happening beneath the surface that every Canadian borrower needs to understand.
We break down:
- Why two months of US jobs data went entirely missing and what that means for Friday's number
- What a 5% treasury yield actually means for your Canadian mortgage rate
- How Trump's attempt to fire Jerome Powell failed, and why his replacement could be even more dangerous
- Why cutting rates in an inflationary environment is a banana republic move, and what Turkey's example tells us
- What every Canadian borrower should be watching at 8:30AM this Friday
This episode isn't about panic; it's about understanding what's actually happening, what the data is saying, and what you can do about it before it's too late.
If you're a Canadian borrower trying to make sense of what's coming, this one's worth your time.
Is Canada's economy quietly cornered?
In this episode of Make Money Count, Marcus and Justin sit down to talk about something that's been building for a while now, and the numbers are getting harder to ignore. From a record-breaking gas price spike to an inflation figure that caught even the banks off guard, a lot is happening beneath the surface that every Canadian borrower needs to understand.
We break down:
- Why the March CPI jump has the Bank of Canada watching very closely
- What does $110 oil actually mean for your monthly mortgage payment
- How a conflict halfway around the world is directly moving Canadian fixed rates
- Why stagflation is becoming Canada's most uncomfortable conversation right now
- The one mortgage move Marcus is recommending to every borrower right now
This episode isn't about panic; it's about understanding what's actually happening, what the data is saying, and what you can do about it before it's too late.
If you're renewing or buying in the next year, this episode is just for you.
Is Canada actually in as much trouble as everyone's saying? The Bank of Canada just revealed something they’ve been quietly doing for 23 years and most Canadians have absolutely no idea.
In this episode of Make Money Count, Marcus and Justin break down what the Bank of Canada's own data is telling us, why global chaos is hitting closer to home than you think, and what all of it means for your mortgage right now. This isn't just background noise. It's the conversation that could change how you think about your next renewal.
In This Episode:
- The Bank of Canada study that scored 23 years of their own words and what it's saying right now
- Why the silence from Canada's most powerful financial institution is louder than any announcement
- How Trump and rising oil prices are directly connected to your mortgage payment
- The inflation number coming soon that Marcus thinks could be worse than anyone's expecting
- Why the spring real estate market is caught in the middle of all of it
- Fixed or variable? What Marcus would actually do with his own mortgage right now
- If Marcus ran Canada, the economic playbook he'd put in place starting tomorrow
The more you understand what's coming, the better you can protect what you've built.This episode is exactly where to begin.
Is your variable rate mortgage actually safe? The Bank of Canada just made a move that every Canadian homeowner needs to know about and most people have no idea it's even happening.
In this episode of Make Money Count, Marcus and Justin break down the repo market, why hedge funds are flooding into Canadian bonds, and what all of this means for your mortgage rate. This isn't just financial noise, it directly affects what you pay every single month.
In This Episode:
- What the repo market actually is and why it matters to you
- Why hedge funds betting on Canadian interest rates is a massive red flag
- How this is similar to what happened in 2008 and why it could happen again
- The rare proactive move the Bank of Canada is making right now
- Why interest rates could spike even as the economy gets worse
- Fixed or variable? What Marcus and Justin would actually do right now
Don't scroll past this one. Set aside 12 minutes and watch it from start to finish; your mortgage will thank you.
Is Canada’s condo market quietly breaking?
In this episode of Make Money Count, Marcus and Justin dive into the condo market, and what they uncover is hard to ignore.
From record-low sales numbers to massive unsold inventory, the data tells a story most people aren’t talking about openly.
We break down:
- Why condo sales are hitting levels not seen since the early ’90s
- What oversupply really means for pricing in Toronto and beyond
- Why investors are stepping back instead of buying the dip
- The behind-the-scenes move involving banks, governments, and a potential billion-dollar fund
- How affordability (or the lack of it) impacts far more than just real estate prices
This episode isn’t about fear; it’s about facts, data, and understanding where the market may be headed next.
Listen till the end, this discussion goes places most condo conversations don’t.
In this episode of the Make Money Count Podcast, we break down how global events like war, rising oil prices, and inflation could impact mortgage rates in Canada.
Oil prices have already surged more than 20%, and markets are reacting fast. When energy prices rise, inflation often follows, and that can directly influence interest rates and mortgage costs.
So what does this mean for homeowners and anyone renewing their mortgage?
In this episode, we discuss:
✔ Why oil prices are suddenly surging
✔ How global conflicts affect inflation
✔ What rising bond yields mean for mortgage rates
✔ Whether fixed mortgage rates could increase again
✔ What Canadians should consider before renewing their mortgage
With Canada currently facing a massive mortgage renewal wave, the timing of these global events could have a real impact on homeowners.
Should you lock in your mortgage rate now?
Could oil prices push inflation higher again?
And what happens if oil hits $100 per barrel?
Listen to the full episode to understand how geopolitics, energy markets, and inflation could shape the future of mortgage rates.
Your mortgage is renewing, and it’s not going to feel like it did five years ago.
If you locked in a 1.39% -- 1.49% mortgage, your renewal could mean a $800–$1,000 jump in monthly payments. In this episode of Make Money Count, Marcus and Justin break down how mortgage renewals really work in today’s high-rate market, and how to optimize your decision instead of blindly accepting the bank’s offer.
In this episode, we cover:* What mortgage renewals look like in 2026 * Real renewal numbers (before vs after rates) * How re-amortizing can lower monthly payments * Fixed vs variable: what actually makes sense right now * Why 75% of Canadians break their mortgage early * The hidden penalties banks don’t explain * How economic signals, inflation, and the Bank of Canada influence mortgage rates
Mortgage renewal isn’t paperwork. It’s a financial strategy decision that can quietly cost, or save, you tens of thousands of dollars.
🎧 Listen to the full episode to learn how to renew smarter, not more expensive. Drop your renewal questions in the comments; we read them all.
In this episode of Make Money Count, we break down what’s really happening with interest rates, employment numbers, and inflation, and why Canada and the U.S. are taking completely different paths.
We unpack the latest unemployment data, bond yield signals, and CPI expectations, then compare the Bank of Canada’s “hold the line” approach with the U.S. strategy of cutting rates to fuel productivity and AI investment.
If you’re a homeowner, investor, or simply trying to understand where rates are headed, this conversation matters.
Listen to the full episode and decide for yourself: Who’s right — Canada or the U.S.?
What’s really going on with Jerome Powell, and why are global markets paying attention?
In this episode of Make Money Count, we break down the growing tension between the White House and the U.S. Federal Reserve, and why this story goes far beyond political drama. From legal pressure on Fed officials to concerns over central bank independence, this is a moment that could reshape interest rates, inflation, and investor confidence worldwide. We also explore why gold is hitting record highs, what history teaches us about political interference in monetary policy, and how all of this could eventually impact Canadian interest rates, mortgages, and the broader economy. If you’re trying to make sense of today’s market uncertainty, without the noise or headlines, this conversation connects the dots.
Make Money Count is back. 🎙️
After a short break, Marcus returns with a solo deep dive into where the Canadian economy truly stands as we enter the new year—and why the next phase may depend on a careful balancing act between the Bank of Canada and the federal government. This episode goes beyond headlines.
Marcus connects global political developments, energy markets, bond yields, and interest rates to explain how events outside Canada’s borders can still directly impact your mortgage, your investments, and the broader economy.
The Bank of Canada finally cut rates — but what does that really mean for homeowners?
Marcus breaks down why this rate cut isn’t as simple as it sounds, and what Canadians should prepare for next.
Listen now for real talk on what’s ahead for your mortgage, inflation, and the economy.
In this episode, Marcus and Justin reveal what’s really keeping grocery prices high, what the Bank of Canada might do next, and how smart borrowers can use this moment to their advantage.
They dig into:
• Why food prices in Canada refuse to drop
• How the grocery market structure keeps costs high
• What the next rate decision could mean for your mortgage
• The surprising price gap between Canada and the UK
The takeaway: Inflation might be easing, but the story isn’t over. Listen to the full episode to see what’s really going on — and how to prepare your finances for what comes next.
AI is moving fast, and it’s already changing the way mortgages are handled. In this episode, Marcus dives into how AI tools like ChatGPT are analyzing mortgage scenarios, calculating penalties, and even projecting rates—but can they really replace human advisors?
We discuss:
- How AI is disrupting mortgage and finance roles
- Why basic mortgage advice is no longer enough
- How Cannect uses AI to empower advisors, not replace them
- The future of mortgage advice in Canada
The takeaway: AI can crunch numbers, but strategy, insight, and personalized advice still need a human touch.
Trump met Carney — and on the surface, nothing happened.
No new tariffs, no clear trade progress… just smiles and handshakes. But while everyone focused on political optics, bond yields quietly continued to fall, signaling a major shift for Canadian homeowners and anyone locked into a high fixed-rate mortgage.
In this episode of Make Money Count, Marcus and Justin break down:
- Why "nothing happened" might actually be a good thing
- The real mortgage implications hidden behind the Trump-Carney meeting
- How bond yields are signaling faster rate cuts
- Why waiting for a Bank of Canada update could cost you thousands
- Fixed vs Variable — how to know if now’s the time to break your mortgage
If your mortgage rate starts with a 5, this episode could be your wake-up call.
Don’t wait for the market to tell you what to do — run your numbers before the opportunity is priced out.
Toronto’s housing market is at a crossroads. Interest rates are easing, but condo supply is piling up, and defaults are on the rise. Will prices bounce back soon, or is there more pain ahead for homeowners and investors?
In this episode of Make Money Count, Marcus and Justin break down:
✔️ Why condo prices may dip further
✔️ The impact of rising defaults and arrears
✔️ What falling interest rates really mean
✔️ Why consumer confidence is the missing piece
🏠 The Canadian housing market has always bounced back — but will this time be different?
In this episode of Make Money Count, Marcus & Justin discuss Deloitte’s latest report on the Canadian economy and share their take on what it really means for 2025–2026. From CUSMA negotiations with the U.S. to tariffs, trade uncertainty, and your mortgage options, Marcus breaks it down. - What you’ll learn in this episode:
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Why trade uncertainty could slow the Canadian economy
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The real risks behind CUSMA negotiations
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How tariffs affect jobs, businesses, and your wallet
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Why variable-rate mortgages may be the smartest choice right now
The Bank of Canada just cut its overnight rate by 25 basis points, bringing it to 2.5%. But what does this mean for your mortgage, housing prices, and the Canadian economy? In this episode, Marcus breaks down:
- Why did the U.S. and Canada cut rates on the same day
- What’s really happening with inflation and the labor market
- Why variable mortgages may now be the smarter move
- How fixed rates, penalties, and bond yields fit into the picture
Listen now to understand whether you should stick with fixed, switch to variable, or refinance your mortgage.
They thought they were consolidating debt. Instead, they lost a 0% interest loan, and the bank didn’t even tell them.
In this episode of Make Money Count, Marcus and Justin break down a real-life horror story featured in The Globe and Mail, where a Canadian couple trusted their bank to help refinance their debt. What happened next? Their 0% First-Time Home Buyer loan was paid off without consent, costing them thousands and leaving them with no recourse.
This one’s a must-watch for anyone considering refinancing or renewing a mortgage.
Don’t make this mistake. Learn how a good mortgage broker could’ve saved them.
Should mortgage brokers get access to your CRA data? In this episode of Make Money Count, Marcus and Justin dive into a recent CRA roundtable that could reshape the mortgage industry in Canada.
We’re talking:
- Income verification & fraud prevention
- Why the banks are NOT pushing for transparency
- The hidden cost of mortgage fraud
- Open banking delays — and who’s responsible
- How Cannect is already building the tech that the banks won’t
This one’s packed with insight, bold takes, and real talk about how the system works. Don’t miss it.
👉 Listen now and learn how to outsmart the banks.
In this episode of Make Money Count, Marcus and Justin discuss the Bank of Canada’s latest reports and what they say about Canada’s economic health.
- Business sentiment? Still shaky.
- Job security? People are worried.
- Consumer spending? Slowing fast.
With inflation staying sticky and interest rates stuck in place, we might be headed straight into stagflation—and the BoC seems to be out of options.
👉 Don’t miss this breakdown if you’re a homeowner, investor, or just trying to make sense of the market right now.
Why are Canadian interest rates stuck? On this Make Money Count episode, Marcus & Justin break down the latest CPI numbers and explain why the Bank of Canada isn't cutting rates soon – and what it means for your wallet.
We cover:
- Stubborn Core Inflation: Even with overall CPI cooling, core inflation is still too high.
- The Tariff Impact: How tariffs are driving up prices on everything from groceries to clothing.
- Stagflation Warning: What stagflation (inflation without growth) means for Canada's economy.
- No Quick Fixes: Why you shouldn't expect significant rate cuts or a housing market boom anytime soon.
Get the real scoop on why rates are stuck and what to expect for 2025 and beyond!
Are Canadian banks giving you biased financial advice? In this episode of Make Money Count, Marcus & Justin break down a recent Globe and Mail article that reveals how big banks are pressuring their advisors to meet sales targets, often at your expense. From mutual funds with hidden commissions to GICs and mortgage negotiations, this episode uncovers the truth behind the polished smiles at your local branch.
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What’s really behind those “share classes”?
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Why bank stocks are still up—despite being called out
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And what you should be doing instead
Don’t miss this eye-opening conversation.
TD Bank’s latest report says mortgage payments are dropping, but is it really good news? In this episode of Make Money Count, Marcus and Justin break down what’s happening in the Canadian mortgage market.
✅ Why are payments down even with high interest rates?
✅ What does a 57% rise in Toronto delinquencies mean?
✅ Are you part of the 40% of Canadians who’ll feel the pain at renewal?
✅ Can you push your amortization or tap into equity to lower payments?
✅ Why banks won’t tell you the full truth—and what to do about it.
Plus, we talk trade tensions, inflation, stagflation, and how it all ties into your next mortgage rate. Is now the time to go variable? What your bank doesn’t want you to know at renewal time
In this week’s episode of Make Money Count, Marcus and Justin break down the growing trade tensions between Canada and the U.S. From Trump’s unpredictable tactics at the G7 to the looming threat of tariffs, this episode explores how Canada’s economy and over 500,000 jobs could be impacted.
Topics covered:
- Trump’s negotiation style: strategy or chaos?
- Why the U.S. doesn’t want Canadian cars anymore
- The fallout of Canada’s digital sales tax
- What Mark Carney is trying to fix — and what he’s not
- How long can Canada wait before things collapse?
Insightful, bold, and brutally honest, this episode is a must-watch for anyone trying to understand what’s really at stake for Canadian businesses and families.
In this episode of Make Money Count, Marcus and Justin revisit their bold 2024 predictions for detached homes, semis, townhouses, and condos... and compare them to what actually happened.
They also break down the latest housing reports from RBC, TD, and Oxford Economics, who each have wildly different takes on where the market is heading next.
👉 Are prices going up or crashing down?
👉 Is affordability real or just a temporary blip?
👉 And what’s the real impact of trade tension with the U.S.?
Find out who was the MOST wrong and why making predictions in this market is a total gamble.
🎧 Watch, laugh, and learn — because no one really knows what’s coming next.
In this episode of Make Money Count, Marcus and Justin dive into the latest Equifax report that shows credit delinquencies have hit their highest levels since 2009.
- Did you know 1 in 22 Canadians missed a payment in Q1 2024?
- Mortgage delinquencies are up 71% year over year.
- Cities like Toronto and Ottawa are seeing double-digit spikes in missed payments.
We break it all down—what it means for you, how to fix your credit fast, and why now might be a great time to refinance your mortgage if you play your cards right.
Are you settling for low returns on your GICs just because your bank said it’s the “best rate”? Think again.
In this episode of Make Money Count, we’re diving deep into Guaranteed Investment Certificates (GICs) and exposing how Canada’s big banks are holding back, sometimes up to 1% less than what you could be earning elsewhere.
Find out:
- Why banks offer lower GIC rates than other providers
- How GIC deposit brokers can help you earn more
- What net interest margins (NIMs) have to do with YOUR savings
- And how to start playing smarter with your money
Whether you're a cautious saver or a curious investor, this episode is packed with insights that can help you take back control of your financial future.
Your bank is making THOUSANDS off of you every year, and you probably don’t even know it.
In this episode of Make Money Count, Marcus & Justin break down how Canadian banks use Net Interest Margins (NIMs), penalties, and hidden fees to quietly pull $60+ billion in profit from everyday Canadians like you.
This episode pulls back the curtain on the banking industry and gives you the tools to fight back.
Don't let your bank take advantage of you.
📞 If you're thinking of renewing or refinancing, talk to Cannect first:https://cannect.ca
Will the Bank of Canada Cut Rates on July 30th? CPI is down, the economy is hurting, and the real estate market is stalling, but core inflation is still sticky. In this episode of Make Money Count, Marcus breaks down what the latest numbers mean and why a 25bps rate cut could be the signal Canadians need right now.
From rising unemployment to canceled real estate listings and low consumer confidence, we explore the economic issues that may force the Bank of Canada's hand.
The Federal Reserve just released its latest economic forecast—and it's not pretty.
In this episode of Make Money Count, Marcus & Justin break down what the Fed's latest report means for inflation, interest rates, and your finances. From stagflation concerns in the U.S. to the surprising advantages of Canada's weakening labor market, we explore the global economic landscape and what it means for you as a homeowner, investor, or everyday Canadian.
Topics Covered:
- Why inflation is rising even as growth slows
- How tariffs are driving prices up
- What stagflation means—and why it's so dangerous
- Why Canada might benefit from a weak job market
- How politics and uncertainty are disrupting central banks
- Should you switch to a variable-rate mortgage?
The economy is shifting fast. Stay informed. Stay prepared.
In this episode of Make Money Count, we reveal 2 powerful real estate strategies that are helping investors thrive in today’s uncertain market.
🏡 Strategy 1: Flipping single-family homes under CMHC’s new $1.5M cap.
🏢 Strategy 2: Bulk buying condos at fire-sale prices from desperate developers.
Whether you’re looking to invest, flip, or buy smart, these tactics are working right now, and they could be your next big opportunity.
Don’t wait for the market to recover, be the one who buys while everyone else hesitates.
📢 Bank of Canada Holds Rates – What It Means for You
The BoC held steady today, with no rate cuts—yet. In this video, Marcus breaks down what led to the decision, how inflation and unemployment influence policy, and why a variable-rate mortgage might still be your smartest move in today’s economy.
📉 Expect cuts ahead?
🏡 Thinking about a mortgage?
Tune in to stay informed and make smarter financial decisions with Cannect.
Canada’s inflation rate just dropped to 1.7% — way below the Bank of Canada’s 2% target. So… why are we still waiting for rate cuts? In this episode of Make Money Count, Marcus & Justin break down why the BoC is hesitant to cut, what this means for homeowners and investors, and what smart mortgage moves you should be considering right now.
In this episode, Marcus & Justin break down the data, trends, and real-world impact of the dramatic increase in inventory, slowing buyer demand, and falling condo prices.
From over 30,000 active listings to investors dumping units at below build cost, we uncover what’s going on behind the headlines.
📉 Are we heading for a crash, or is this just a long-overdue correction?
🏘️ Should you buy now, or wait it out?
🚪 What happens when immigration slows and pre-construction deals start collapsing?
Tune in for no-fluff insights from the Cannect team, where we prioritize facts over fear.
Are you renewing your mortgage this year with an alternative lender like Home Trust or Community Trust? Don’t just accept their first offer—you may have better options.
In this video, we break down what you should consider if:
- You’re self-employed and hate paperwork
- You want to borrow more for a renovation
- You’re worried about higher rates
- You’re unsure whether to refinance, renew, or switch lenders
At Cannect, we simplify the process. No sales pitch. Just honest advice, technology that makes it easier, and customized options laid out side-by-side so you can make the smartest move.
Mortgage renewal coming up? WATCH THIS FIRST.
In this episode of Make Money Count, Marcus and Justin, both currently going through their mortgage renewals, share exactly what you need to know before signing that offer from your bank.
They break down:
✔️ Why banks don't always have your back
✔️ How penalties really work
✔️ What to ask before renewing
✔️ Why you need a real advocate, not a bank employee
✔️ The smartest way to handle your mortgage in 2025
Thinking of switching from fixed to variable? Facing a renewal in the next 6–18 months? This video could save you thousands.
Get honest advice, learn from real scenarios, and don’t let the system take advantage of you.
The Bank of Canada held steady—no rate cut in April. So what now?
In this episode of Make Money Count, we break down:
- What the Bank of Canada said and what they really meant
- Why March CPI numbers matter more than you think
- How bond yields are guiding fixed-rate mortgages
- And—most importantly—whether you should lock into a fixed or stick with a variable.
We’re still pro-variable. June and July cuts are likely, and the smart money is on flexibility. Watch to hear our full strategy—and maybe place a bet with us on the next rate cut.
In this week’s episode, Marcus breaks down how new U.S. tariffs — yes, even the science fair-style ones — are impacting mortgage rates here in Canada. With five-year bond yields dropping, we’re seeing some of the most competitive fixed mortgage rates in recent memory. But with a possible Bank of Canada rate cut on April 16 and stagflation creeping in, what does it all mean for homebuyers, homeowners, and real estate investors?
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Are mortgage rates going down for good?
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Will this boost Canada’s cooling housing market?
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Should you go fixed or variable right now?
Welcome to another episode of Make Money Count!
This week, we're pulling back the curtain on Trump's trade policies—and it’s not just Trump calling the shots. Who's really influencing America's economic strategy?
Canada just got a new Prime Minister, but what does that mean for your finances, mortgage rates, and the country's economic future?
In this episode of Make Money Count, Marcus & Justin dive into:
✅ How the leadership change might affect mortgage rates
✅ Pierre Poilievre’s growing popularity (and possible pitfalls)
✅ Canada's missed opportunities in trade, intellectual property, and economic strategy
✅ What borrowers, businesses, and investors should watch for next
Is Canada heading toward growth, or are we stuck in political and economic limbo?
The Prime Rate Drops—But at What Cost?
Canada’s prime rate just dropped by 25 basis points, and while that sounds like great news for borrowers, there’s more to the story. Tariff disputes, market instability, and new U.S. travel restrictions for Canadians could shake things up.
- What does this mean for real estate?
- Will lower rates boost the economy?
- How do trade tensions impact your investments?
Interest rates in Canada are falling faster than expected, but will this be enough to revive the real estate market? In this episode, we break down:
Toronto & Canadian Real Estate: The sales-to-new listings ratio is at 33%, active listings are up 76% YoY, and prices are dipping slightly. Are we officially in a buyer’s market?
Falling Interest Rates: BMO & RBC predict deeper rate cuts—what does this mean for mortgages and homebuyers?
Canadian Dollar Struggles: As the loonie takes a hit, what impact will this have on real estate and investments?
Auto Industry Gets a Reprieve: Will this short-term relief have long-term effects?
Trudeau’s Strategy & EI Reforms: The government is holding off on a short-term trade deal while economists push for Employment Insurance reforms—how could this reshape consumer spending?
Major Economic Changes Ahead! What Does It Mean for You?
From Trump’s proposed tariffs to Canada’s Liberal leadership race, big shifts are happening that could impact your investments, mortgage rates, and cost of living. In this video, we break down:
Trump’s Tariffs: How a 25% import tax could shake Canada’s economy.
Liberal Leadership Race: What new policies could mean for housing and mortgages.
Mortgage & Investment Tips: How to stay ahead in uncertain times.
Will the Bank of Canada finally cut interest rates? The latest Consumer Price Index (CPI) numbers are out, and they could be signaling a major shift in the mortgage market.
In this episode, we break down:
- What does the new CPI data mean for inflation and interest rates
- How homeowners, buyers, and investors should react
- Whether now is the time to lock in a mortgage or wait for lower rates
If you're a homeowner, mortgage holder, or investor, this episode is a must-watch. Stay ahead of the market and make smarter financial decisions!
In this episode of Make Money Count, we break down how U.S. tariffs are driving inflation and impacting the global economy.
We discuss:
✅ Why tariffs are pushing consumer prices higher
✅ The ripple effects on industries like auto manufacturing and healthcare
✅ What this means for Canadian businesses and homeowners
Plus, we analyze the Federal Reserve's stance and how these trade tensions could affect future interest rates.
Wondering how this impacts your mortgage or investment decisions? Cannect is here to help.
In this eye-opening episode of the Make Money Podcast, Toronto City Councillor Brad Bradford & Marcus discuss the city’s $18.8 billion budget, exposing hidden inefficiencies, mismanaged funds, and bureaucratic hurdles that are holding Toronto back.
What You’ll Learn:
- The REAL reason behind Toronto’s skyrocketing property taxes
- How the city mismanages over $30 billion in reserves
- The truth about Toronto’s “deficit” (spoiler: it’s not what you think!)
- Why vendors are avoiding city projects
- Bold solutions for housing, transit, and public services
Brad shares his candid thoughts on Toronto’s culture of risk aversion, inefficient governance, and what needs to change for the city to thrive.
In this episode, Marcus & Justin discuss the far-reaching effects of U.S. tariffs on the global economy, particularly focusing on real estate and interest rates. From the aggressive tariff strategies under President Trump to the economic uncertainty that impacts markets, we break down how these policies could shape the future of real estate in North America.
We also discuss Canada’s role in U.S. trade, the growing pressure on Canadian industries, and why Canada needs to rethink its economic strategy to protect itself from unpredictable U.S. policies.
Key Topics:
- How tariffs affect interest rates and real estate prices
- Trump’s economic goals and their consequences for Canada
- Canada’s reliance on U.S. trade and the need for change
- The political and economic tension between the U.S. and Canada
Listen to the full episode for a deep dive into how international trade tensions are affecting your bottom line!
Welcome to this episode of Make Money Count!
The BoC lowered its key rate by 25 basis points, bringing the prime rate down to 5.2%—and more cuts are expected! What does this mean for homeowners, investors, and borrowers?
- Variable vs. Fixed Rate Mortgages – Should you break your fixed rate?
- HELOC & Line of Credit Rates Rising – What you need to know
- Housing Market Outlook – Is now the right time to buy?
- Canada’s Economic Future – What’s next for interest rates?
If you're thinking about switching to a variable rate or have a mortgage renewal coming up, now is the time to act! Contact us to find the best mortgage strategy for you.
Welcome to this episode of Make Money Count!
Property tax hikes? New city fees? Toronto’s $1.5 billion budget deficit could have major implications for your finances. Don’t worry—we’ve got you covered. In this audio, Cannect’s experts explain how you can navigate these changes with ease.
- Refinance smarter with Cannect’s mortgage options.
- Make your money work harder with our investment solutions.
Welcome to this episode of Make Money Count!
Are you wondering where interest rates are headed in 2025? We’ve got you covered! In this episode, we break down:
What Canada’s major banks predict for interest rate changes
How global politics and potential U.S. tariffs could impact the economy
Tips for homeowners and investors to prepare for the shifts ahead
We simplify the complex financial news and provide actionable insights to help you navigate these changes with confidence.
Highlights from this episode:
- Scotiabank and National Bank’s opposing forecasts
- The economic drivers behind interest rate changes
- How political shifts could influence Canadian monetary policy
Whether you’re managing a mortgage, considering investments, or planning your finances for the future, understanding these predictions and trends is essential.
Are you approaching your mortgage renewal? Don’t settle for the first offer! In this episode of Make Money Count, we dive into:
- Why mortgage lenders are fighting for your business.
- Insider tips on how to get the best rates and terms.
- The importance of understanding your options before you renew.
Get ahead of the rate wars and learn how to save thousands on your mortgage.
Is Trudeau’s political future at risk? What’s driving the U.S.’s surprising interest in Greenland? And how will Canada’s economy handle new trade tensions? Dive into this thought-provoking discussion as Marcus and Justin unpack the latest North American political and economic twists. Hear now to uncover the connections no one else is talking about!
Join us as we discuss expert predictions for 2025, covering the housing market, interest rate trends, and how political decisions might shape Canada's economy. Whether you're a homeowner, investor, or just curious, this episode provides valuable insights to prepare for the year ahead.
As 2024 comes to a close, Canada is facing some of its most pivotal challenges yet. Join Marcus and Justin in this special holiday episode of Make Money Count as they break down:
✅ Chrystia Freeland’s resignation and its impact on Canada’s leadership.
✅ The Liberal government’s spending habits and the economic repercussions.
✅ Market predictions: Could Trudeau’s tenure end before 2025?
✅ Strained U.S.-Canada relations and their implications for our economy.
Don’t miss out—watch now to stay informed about Canada’s future!
The Canadian government announced a 50 basis points cut in interest rates, with the prime rate dropping from 5.95% to 5.45%, and the overnight rate falling to 3.25%. But what does this mean for Canadians, and how will it affect the economy in the long term? In this episode, Marcus and Justin discuss the implications of the rate cut, what it means for inflation, the real estate market, and the broader Canadian economy.
The Canadian government recently introduced a $250 GST rebate to help Canadians manage rising costs, but is this financial aid a quick fix or a risky move that could fuel inflation and increase government debt? In this audio, we break down what the rebate means for you, how it impacts the economy, concerns about government spending, and explore smarter solutions for achieving long-term financial stability.
The Bank of Canada’s next rate decision is just around the corner! Will we see another hike, or could this be the turning point for rate cuts? In this audio, we discuss:
- How Canadian banks are profiting from high rates.
- What this means for your mortgage.
- Why variable-rate mortgages might be your best bet.
- How Cannect can help you navigate this financial landscape.
Get the insights you need to stay ahead in a challenging economy.
Are you curious about how recent economic changes impact your finances? In this audio, we dive deep into key topics affecting the Canadian economy, mortgage rates, and investment opportunities. Learn how to navigate these shifts confidently and make informed decisions with expert insights from Cannect.
In this episode, Marcus and Justin break down the latest economic shifts and how they affect Canadian housing affordability. From rising CPI and bond yields to the challenges facing condo markets, they share expert insights on navigating these changes, including mortgage strategies for homeowners. Tune in to hear their advice on whether now’s the right time for a variable rate and what the future holds for housing supply and demand. Don't miss out on actionable advice for making smart moves in today’s market!
Toronto’s real estate market is evolving, but is now the right time to buy? Join us with real estate expert Benjamin Ferguson as we dive into the market’s biggest trends, from construction costs and high demand to variable-rate mortgage benefits. We break down what’s impacting real estate prices, the influence of immigration, and why Toronto remains a prime spot for buyers and investors alike. Watch now to discover if Toronto housing is set to rebound!
In this episode, we dive into how Donald Trump’s potential return to power could shake up Canada’s real estate market and mortgage landscape. With close economic ties, shifts in U.S. policies often have ripple effects here in Canada—especially when it comes to mortgage rates and bond yields. What does Trump’s focus on American productivity, tariffs, and government spending mean for Canadian homeowners and anyone looking to renew or get a mortgage? We break it all down and explore what Canadians might expect, from rising interest rates to new trade dynamics. Tune in to find out how you can prepare and make the most of these potential changes!
In this episode of the Make Money Count, we tackle one of Canada's most pressing economic challenges: the alarming decline in productivity. Join our hosts as they explore why productivity is crucial for our nation's growth and how Canada’s current situation compares to other developed countries, especially the U.S.
We delve into the impact of oligopolies, overregulation, and infrastructure deficits that stifle innovation and competition. With the Bank of Canada hinting at future interest rate cuts, we discuss how our unique mortgage market magnifies economic challenges.
Can Canada turn this trend around? What steps should we take to attract skilled workers and invest in the fundamentals of our economy?
Welcome back to another episode of Make Money Count! Today, we’re diving into some significant updates about the Canadian economy that you won't want to miss. The Bank of Canada recently cut interest rates by 50 basis points, a move that could reshape the landscape for homeowners and investors alike.
In this episode of Make Money Count, we dive into the latest financial news, including the recent Consumer Price Index (CPI) report showing a 1.6% increase, largely due to falling gas prices. We also discuss the possibility of more interest rate cuts by the Bank of Canada and why locking into fixed mortgage rates might not be the best idea right now. Additionally, we touch on how penalties for shopping for credit and the stress test are making it harder for consumers to find better financial deals. Stay informed, and learn how to navigate these uncertain times with the right mortgage strategies.
Welcome to Make Money Count! Are you looking to maximize your home's potential? The Canadian government just introduced a game-changing refinancing option allowing you to refinance up to 90% of your property's value! In our latest podcast episode on Make Money Count, we break down everything you need to know about this new program, including:
✅ How to qualify for the 90% LTV refinance
✅ Potential risks and how to navigate them
✅ Tips for adding rental units to boost your income
✅ Insights into recent CMHC policy changes and what they mean for you
Big news for homeowners and mortgage holders! In this episode, we break down the new rule by OSFI that makes it easier to switch mortgage lenders at renewal without going through a stressful qualification process. Learn what this means for you, how you can benefit from shopping around for better rates, and why now might be the perfect time to consider a mortgage renewal. At Cannect, we’re committed to helping you save money and simplify your mortgage experience.
In this episode, we break down the major factors influencing interest rates in Canada and the U.S. – from the Federal Reserve’s recent 50 basis point cut to Canada's CPI hitting 2%. With more rate cuts expected in 2024 and 2025, it's crucial to understand how this impacts your mortgage. Should you switch to a variable-rate mortgage? What about potential penalties? We cover it all, including key advice on how to navigate this shifting economic environment and save money on your mortgage. Don't miss out on these expert insights!
In this episode of Make Money Count, we break down the latest announcement from Canada’s Minister of Finance about significant changes in home-buying rules. We discuss:
- The increase of the maximum insurable purchase price from $1 million to $1.5 million, making it easier to buy a home with less than 20% down.
- The introduction of 30-year amortizations for first-time buyers and newly built homes, lowering monthly payments but increasing total interest paid.
- How these changes may impact future interest rate cuts and housing market activity.
In this video, we explore the key economic trends shaping Canada right now – from rising unemployment to potential interest rate cuts by the Bank of Canada. How will these changes impact homeowners and investors? And what could nationalizing oil production mean for Canada's future economy? Learn more about the latest shifts in the housing market, mortgage rates, and innovative ideas to help tackle Canada’s debt. Whether you’re looking to refinance, invest, or simply stay informed, Cannect is here to help you guide these uncertain times with confidence.
The Bank of Canada just announced a 25 basis point cut, bringing the prime rate down to 6.45%! While many hoped for a bigger drop, there’s good news ahead. The Bank of Canada has signaled that more rate cuts are expected in the coming months. According to TD, we could see up to 250 basis points shaved off by the end of 2025, bringing the prime rate down to 3.95%. Lower rates are on the horizon!
Is your mortgage up for renewal soon? Don’t just sign the dotted line without doing your homework! In this video, we’re sharing the top 5 tips to help you navigate the mortgage renewal process like a pro. From starting early to understanding your financial situation, these strategies will ensure you get the best deal possible. Whether you’re considering a HELOC, aiming for the lowest rate, or simply looking to optimize your finances, this guide has you covered. Watch now and take control of your financial future!
In today's fast-changing economy, it's important to stay ahead. Join us as we break down the latest market trends, including possible interest rate cuts and the challenges in the real estate market. Discover how Cannect can help you turn these challenges into opportunities, whether you want to refinance, invest, or just get expert advice. Don't miss out on tips that could save you money and help you achieve financial success.
In this episode, we explain the recent changes in Canadian mortgage policies and their potential impact on the housing market. From the introduction of the 30-year amortization for insured pre-construction mortgages to the increasing reliance on family gifts for down payments, we’ll share everything you need to know, whether you are a homebuyer or investor.
This podcast explores the latest developments in the Canadian housing market. From the Bank of Canada's potential rate cuts to the challenges facing the condo market, and the looming crisis in housing supply, we cover it all. Whether you're a homeowner, prospective buyer, or investor, understanding these trends is crucial for making informed decisions. Don't miss out on this essential market update!
In this episode of "Make Money Count," we break down the essential factors to consider when choosing a mortgage broker. Drawing from Rob McLister's article in the Financial Post, we explore how Cannect ensures you get the best deal. Learn about the importance of responsiveness, understanding your long-term needs, and genuine shopping around. Discover how Cannect’s strong lender relationships and commitment to your financial future set us apart. Tune in to make an informed decision for your mortgage needs!
Welcome to Make Money Count! In this video, we explore the predicted rate cut by the Bank of Canada and its potential impact on the real estate market. What does this decision mean for homebuyers, investors, and the overall housing market in Canada? However, a 25 basis point rate cut might be insufficient. We expect that at least an additional 50 basis points will be necessary to fully support the economic recovery. Join us as we explore the details and analyze how lower interest rates could influence property prices, mortgage rates, and investment opportunities. Stay tuned for expert insights and practical advice on navigating the changing landscape of Canadian real estate.
Welcome to Make Money Count! In this episode, we explore the recent decline in bond yields and its implications for mortgage rates. Join Marcus and Justin as they break down what this means for prospective home buyers and the broader housing market. Don't miss this insightful discussion on how economic trends can affect your financial decisions.
Welcome to our latest episode of Make Money Count! In this episode, we talk about the current state of Toronto's condo market amidst high interest rates. We break down how these rates are impacting buyers and investors, and why many are reconsidering their positions. We also discuss the surge in condo supply and what it means for prices. Additionally, we explore the strategies banks utilize to manage risks and the potential impact of immigration on the market.
Welcome to our newest episode of Make Money Count! In this episode, we discuss the latest CPI numbers and explore the real estate market, giving you tips on buying a home in today's ever-changing landscape. With scams on the rise, we also share important tips on how to stay safe during the mortgage process. From budgeting to home buying, this episode is packed with valuable information to help you navigate these turbulent financial times with confidence!
Welcome to Make Money Count! In this episode, we cover the latest updates in the mortgage market and economic trends impacting your financial decisions. We discuss Canada's 5-year bond yield drop to 3.3%, resulting in average fixed mortgage rates of 4.8%. We explore why opting for a variable-rate mortgage could be wise amidst current economic conditions. We also analyze the Bank of Canada's cautious stance on interest rate cuts due to inflation concerns, with decisions pending on economic performance in both Canada and the US.
We're excited to bring you this week's episode of Make Money Count, where we delve into the latest developments in the real estate market. This episode is packed with valuable insights for potential homeowners, sellers, and investors. Join us as we discuss the impact of recent rate cuts, supply-demand dynamics, and future interest rate movements predictions. We also analyze the ongoing supply-demand imbalance in the housing sector.
On June 5th, 2024, the Bank of Canada announced a rate cut of 25 basis points, a move that has significant implications for the Canadian economy and personal finances. This decision, aimed at stimulating economic growth, is expected to have a broad impact on various financial products, including mortgages and home equity loans. For homeowners and potential buyers, the most immediate effect will be on mortgage interest rates. The rate cut typically leads to lower mortgage rates, making it cheaper for Canadians to borrow money for home purchases. Existing homeowners with variable-rate mortgages will likely see a reduction in their monthly payments. This could also be an opportune time for those with fixed-rate mortgages nearing renewal to potentially secure lower interest rates.
On this week's episode of the Make Money Count podcast, hosts Marcus and Justin take a deep dive into some of the most urgent and impactful issues currently shaping the Canadian mortgage and real estate markets. From dramatic shifts in the condo market to the financial strategies of major banks, this episode is packed with crucial insights and expert analysis that you won’t want to miss. #MakeMoneyCount #CanadianRealEstate #CondoMarketCrash #BankEarnings #MortgageRates #GlobalMortgages #FinancialInsights #RealEstateInvesting #MortgageAdvice #CannectPodcast #FinancialPlanning #InterestRates #RealEstateTrends #CanadaHousing #MortgageMarket
Welcome to this week's episode of "Make Money Count" with Marcus and Justin! In this episode, we cover a range of crucial topics affecting the Canadian economy and real estate market: Jeff Bezos Family Office Investing in Mortgages: Bezos Expeditions is eyeing the mortgage market with investments ranging from $2.5 million to $5 million. Although they haven't entered the Canadian market yet, Cannect MIC stands out as the best option if they decide to do so. CPI Numbers and Bank of Canada Rate Predictions: The latest CPI numbers show inflation cooling to 2.7%. We discuss the 49% chance that Bank of Canada rates may not drop in June, but we could see a 25 basis point reduction in July. Real Estate Market Trends: Real estate prices are expected to drop due to low demand, high listings, and elevated interest rates. Tenant Issues in Ontario: We address the significant challenges faced by landlords and investors in Ontario with tenants not paying rent and refusing to evacuate properties, including a notable case where a tenant stayed for over a year without paying rent. Capital Gains Tax Increase: Justin Trudeau’s proposal to increase the capital gains tax could lead wealthy individuals to move their money out of Canada. First-Time Home Buyers Stimulus: First-time home buyers can now get 30-year amortization on insured mortgages when purchasing new construction. While this could stimulate the pre-construction market, it may not have a significant overall effect given the current cheap land prices. For more in-depth analysis and expert insights, watch the complete episode of "Make Money Count.
Join Marcus and Justin Turner in this eye-opening episode as they delve into the world of "B" deals and credit repair strategies. Discover how to navigate the current economic conditions of the Canadian real estate market, differentiate between "A" and "B" deals, and learn step-by-step processes to improve your credit score. Don't miss out on valuable insights to secure your financial future!
In this week's episode of Make Money Count, Marcus reviews pressing economic questions surrounding the Canadian housing crisis and the underlying factors contributing to the contraction of the economy.
This Episode Highlights:
Divergence of Canadian and US Economies and its Impact on Bank of Canada's Decisions
Marcus dissects the dynamics between the Canadian and US economies, explaining how this divergence could shape future decisions by the Bank of Canada. Understanding these shifts is paramount for anticipating changes in interest rates and their repercussions on financial markets.
Pain Caused by Elevated Interest Rates in the Canadian Economy
Explore the tangible impact of elevated interest rates on the Canadian economy. Marcus sheds light on the challenges faced by businesses, consumers, and economic growth, offering a comprehensive view of the current economic landscape.
Predictions with Data and Charts: Strong Probability of Rate Cuts in June
Marcus presents his predictions indicating a strong probability of rate cuts in June. These predictions are rooted in thorough analysis of economic indicators, providing valuable guidance for investors and individuals shaping their financial strategies.
Ready to navigate these economic shifts and optimize your financial strategies? Reach out to us today to explore tailored solutions aligned with your financial goals. Let's navigate these economic waters together and ensure your money counts!
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PODCAST:
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Welcome to Make Money Count! In this episode, Marcus and Justin discuss crucial economic insights, including navigating Canada's economic challenges, leveraging rate cut predictions for mortgage savings, debunking housing market crisis myths, and avoiding financial traps like interest rate differential penalties. Join us for expert analysis and actionable strategies to make informed financial decisions.
Episode Highlights
Canadian Economy Challenges and Real Estate Market Trends
Marcus and Justin provide an insightful analysis of the current challenges facing the Canadian economy, particularly in the context of the real estate market trends. They examine factors such as inflation rates, employment levels, and housing affordability, offering viewers a comprehensive understanding of the economic landscape.
Bank of Canada's Rate Cut Predictions and Mortgage Strategy
The duo discusses predictions regarding potential rate cuts by the Bank of Canada and its implications for mortgage strategies. By exploring the impact of interest rate changes on mortgage rates, they equip viewers with valuable insights to make informed decisions about their home loans in Canada.
Debunking Housing Market Crisis Misconceptions
Marcus and Justin debunk common misconceptions surrounding the housing market crisis, providing clarity on prevailing myths and realities. They address concerns about housing bubbles, affordability challenges, and market stability, helping viewers navigate through the noise and make sound decisions regarding their mortgages.
Beware of Interest Rate Differential Penalties
Lastly, Marcus and Justin emphasize the importance of understanding interest rate differential penalties associated with variable rate mortgages. By highlighting the potential financial implications of these penalties, they underscore the need for borrowers to carefully evaluate their mortgage options and consider factors such as home equity loans and variable interest rates.
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👇👇YOUR BEST HOME MORTGAGE NOW AND FOREVER 👇👇
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👇👇INVEST WITH CANNECT NOW👇👇
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🎓 Learn more about how to Make Money Count: http://MakeMoneyCount.com
bankofcanada #banks #canada #cannect #comercialrealestate #credit #foryou #interestrates #makemoneycount #mortgages
We're thrilled to unveil the newest episode of our "Make Money Count" podcast, where Marcus delves into fascinating topics that directly influence the way you handle your finances. From decoding the complexities of the Consumer Price Index (CPI) and its ripple effects on interest rates, to offering fresh insights from the Canadian federal budget and also the differences in interest rate management by US and Canada
This Episode Highlights
- Understanding CPI and Its Impact: We break down the Consumer Price Index (CPI) and its significant influence on interest rates. Discover how CPI changes can affect your financial landscape and investment strategies.
-
Insights from the Canadian Federal Budget: Gain valuable insights into the latest developments in the Canadian federal budget. Where we shed light on key areas that could shape economic trends and
financial policies. -
Differences in Interest Rate Management: Explore the contrasting approaches of the US and Canada towards managing interest rate fluctuations. We also provide insights into the strategies employed by these economies and their implications for borrowers and investors.
-
Get ready to gain invaluable knowledge that directly impacts your financial decisions and empowers you to make informed choices on your financial journey.
🔔 Subscribe for more!
PODCAST:===============================
Apple: https://podcasts.apple.com/us/podcast/make-money-count/id1579718660
Spotify: https://open.spotify.com/show/60gGyKOiiN7fnKFknyFREJ
iHeart Radio: https://www.iheart.com/podcast/269-make-money-count-85477969/
Podbean: https://makemoneycount.podbean.com/
SOCIAL===============================
♪ - TikTok: https://www.tiktok.com/@cannect.ca
👥 - FACEBOOK: https://www.facebook.com/cannecthomefinancing
🐣 - TWITTER: https://twitter.com/CannectLoans
📸 - IG: https://www.instagram.com/cannect.ca/
💼LinkedIn: https://www.linkedin.com/company/cannect-home-financing
👇👇YOUR BEST HOME MORTGAGE NOW AND FOREVER 👇👇
https://cannect.ca/
https://cannect.ca/
https://cannect.ca/
👇👇INVEST WITH CANNECT NOW👇👇
https://cannect.ca/mortgage-investment-corporation
✅ Averaging 8.11% returns.
✅ Nine years of established success
🎓 Learn more about how to Make Money Count: http://MakeMoneyCount.com
We are in a period of transition and reflection as we mourn the loss of our beloved producer, Matthew Scanlan. His creativity and spirit were integral to our team, and his efforts sculpted the podcast into what it is today.
We also delve into Canada's rising unemployment rate, its implications on the real estate market, and the Bank of Canada's looming rate decisions. With expert analysis, we dissect how recent unemployment figures could shape future interest rates, affect housing affordability, and impact consumer confidence in the housing market. Amidst these economic uncertainties, we also explore the resilience and evolving dynamics of Canada's workforce and real estate sector.
Highlights include: - A tribute to Matthew Scanlan and his lasting impact as the Make Money Count podcast producer. - An in-depth analysis of Canada's latest unemployment rates and their broader economic implications. - Insights into how these trends are influencing the Bank of Canada's rate decisions and the potential effects on the housing market. - Discussion on the necessity of investing in productivity and infrastructure to ensure a robust economic future for Canada.
As we embark on this journey of understanding and adaptation, we invite you to join us in remembering Matt and exploring the complexities of Canada's economic landscape. Your thoughts, comments, and engagement are more important than ever as we navigate these challenging times together.
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PODCAST:===============================
Apple: https://podcasts.apple.com/us/podcast/make-money-count/id1579718660
Spotify: https://open.spotify.com/show/60gGyKOiiN7fnKFknyFREJ
iHeart Radio: https://www.iheart.com/podcast/269-make-money-count-85477969/
Podbean: https://makemoneycount.podbean.com/
SOCIAL===============================
♪ - TikTok: https://www.tiktok.com/@cannect.ca
👥 - FACEBOOK: https://www.facebook.com/cannecthomefinancing
🐣 - TWITTER: https://twitter.com/CannectLoans
📸 - IG: https://www.instagram.com/cannect.ca/
💼LinkedIn: https://www.linkedin.com/company/cannect-home-financing
👇👇YOUR BEST HOME MORTGAGE NOW AND FOREVER 👇👇
https://cannect.ca/
https://cannect.ca/
https://cannect.ca/
👇👇INVEST WITH CANNECT NOW👇👇
https://cannect.ca/mortgage-investment-corporation
✅ Averaging 8.11% returns.
✅ Nine years of established success
🎓 Learn more about how to Make Money Count: http://MakeMoneyCount.com
mbark on a captivating exploration of real estate, housing regulations, immigration, and financial policies with Tim Hudak, CEO of the Ontario Real Estate Association, in this insightful conversation. Join us as we delve into the intricate world of property ownership, discussing the hurdles faced by homeowners, the vital role of skilled trades in infrastructure development, and the profound impact of financial decisions on the housing market.
Highlights:Insights from Tim Hudak: Gain invaluable perspectives from Tim Hudak, a seasoned industry expert, as he shares his insights into the evolving landscape of real estate, housing regulations, and financial policies. Explore Tim's vast knowledge and experience, offering a unique lens through which to understand the complexities of the housing market.
Housing Regulations Unveiled: Delve into the regulatory challenges encountered by property owners during construction and renovation projects. Learn about the importance of streamlining these processes to facilitate development and meet the growing demands of the housing market.
The Skilled Trades Dilemma: Explore the critical role of skilled trades in shaping essential infrastructure and addressing labor shortages. Join the conversation on how adjusting immigration policies could offer solutions to the ongoing challenges faced by the labor market.
Financial Policies Impact: Examine the far-reaching effects of financial policies on the housing market, including discussions on mortgage insurance, interest rates, and their implications for housing affordability. Discover how these policies influence the decisions of homeowners and prospective buyers alike.
Personal Anecdotes and Insights: Journey through personal anecdotes shared by Tim Hudak, offering glimpses into his unique experiences and encounters in the real estate industry. From reflections on family dynamics to encounters with public figures, Tim's stories add depth to our exploration of real estate and financial landscapes.
Upcoming Real Estate Conference: Get an exclusive preview of an upcoming real estate conference featuring esteemed speakers such as Magic Johnson and Daymond John, with insights provided by Tim Hudak. Explore the key topics to be addressed and the invaluable insights to be shared, promising an enriching experience for all attendees.
Join us for a thought-provoking discussion with Tim Hudak, CEO of the Ontario Real Estate Association, as we unravel the complexities of real estate, housing regulations, and financial policies. Gain valuable insights and perspectives that will empower you to navigate the ever-changing landscape of the housing market.
🔔 Subscribe for more!
PODCAST:
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Spotify: https://open.spotify.com/show/60gGyKOiiN7fnKFknyFREJ
iHeart Radio: https://www.iheart.com/podcast/269-make-money-count-85477969/
Podbean: https://makemoneycount.podbean.com/
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👇👇YOUR BEST HOME MORTGAGE NOW AND FOREVER 👇👇
https://cannect.ca/
https://cannect.ca/
https://cannect.ca/
👇👇INVEST WITH CANNECT NOW👇👇
https://cannect.ca/mortgage-investment-corporation
✅ Averaging 8.11% returns.
✅ Nine years of established success
🎓 Learn more about how to Make Money Count: http://MakeMoneyCount.com
Welcome to our latest discussion where we dive deep into the intricacies of Canada's economic landscape, with a spotlight on the recently released Consumer Price Index (CPI) report. In this meticulously crafted analysis, we dissect the wealth of information contained within the CPI data, offering a comprehensive examination of its implications for various sectors of the economy.
Join us as we navigate through the labyrinth of economic indicators, unravelling the underlying trends driving inflation in the Canadian market. From the soaring costs of shelter to the nuances of food prices, our expert panel provides invaluable insights into the factors shaping consumer spending patterns and market dynamics.
But our exploration doesn't stop there. We go beyond the numbers, exploring the ripple effects of CPI fluctuations on interest rates, investment strategies, and policy decisions. With a keen eye on macroeconomic trends and market sentiment, we offer strategic foresight for investors, businesses, and policymakers alike.
So, whether you're a seasoned investor, a budding economist, or simply someone keen on understanding the forces shaping Canada's economic future, join us for this enlightening discussion. Subscribe now for regular updates and in-depth analysis on all things economics and finance. Don't miss out on the opportunity to stay ahead of the curve in today's ever-evolving economic landscape.
In this episode of the Make Money Count podcast, join Marcus and Justin as they delve into the intricate world of economics and finance. With recent market fluctuations and uncertainty looming, understanding the economy's pulse has never been more crucial.
Decoding Market Dynamics: Get exclusive insights into the current economic landscape as our hosts dissect recent trends and projections.
Expert Analysis: Learn from seasoned financial experts as they provide valuable commentary on stock market volatility, interest rate forecasts, and the impact on various investment portfolios.
Insider's Perspective: Gain a deeper understanding of how economic indicators shape market sentiment and influence decision-making for investors and homeowners alike.
Tune in to Make Money Count for valuable insights, expert analysis, and actionable strategies to make your money work smarter. Don't miss out on this informative episode—hit the play button now and empower yourself with financial knowledge!
Welcome back to another episode of Make Money Count! 🎙️ Hosted by Marcus Tzaferis and produced by Cannect Home Financing, today's show is a game-changer for anyone exploring home financing options. Whether you're self-employed, facing income challenges, or have been rejected by traditional banks, we've got the insights you need.
🏡 In this episode, we delve into the world of Alternative Lenders, revealing strategies to secure the lowest mortgage rates regardless of your financial situation. Did you know that the next 20 minutes with us could save you and your family $20,000 in interest expenses this year alone?
💡 Learn how to navigate a market full of banks designed to say no to your mortgage. Marcus and Justin explore the benefits of Alternative Lenders, from credit flexibility to stated income programs and debt consolidation. Discover why these lenders might be the perfect fit for your unique circumstances.
🔑 Key Benefits Covered:
- Credit Flexibility: Overcome credit challenges and secure financing with lenient requirements.
- Stated Income Programs: Declare income without the strict documentation of traditional banks.
- Debt Consolidation: Roll high-interest debts into a single mortgage for lower rates and simplified repayments.
- Alternative Lender Credit Lines: Access your home's equity for improvements, investments, or unexpected expenses.
- Duration and Considerations: Understand the implications of shorter mortgage terms and potential interest rate differences.
- Equity Requirements: Learn how equity influences the cost of alternative mortgages.
🚀 Cannect's automated home finance tool surveys the entire market of Alternative Lenders, ensuring you find the best mortgage product tailored to your needs. Check it out at C-A-N-N-E-C-T.CA!
👍 Don't forget to hit subscribe, give us a thumbs up, and visit Cannect.ca for more insightful content. Your support keeps us motivated to help you make informed and savvy financial choices.
🗣️ Have questions about B Mortgages or want to share your experiences? Drop a comment below and stay tuned for more episodes. Remember, stay informed, make savvy financial choices, and always make your money count! 💰 #MakeMoneyCount #AlternativeLenders #MortgageTips
🚨 Brace yourself for a jaw-dropping revelation on the latest episode of Make Money Count! 🚨 This episode delves into the explosive aftermath of Canada's recent CPI report, unravelling the shocking truths that could impact your finances, mortgage, and the overall housing market.
📊 Join the discussion as Marcus breaks down the numbers, dissecting the unexpected rise in CPI, and its repercussions on interest rates, mortgage rates, and the price of housing. Learn how factors like gas prices, groceries, and shelter costs play a pivotal role in shaping the economic landscape.
💡 Discover the hidden challenges posed by the surge in immigration, causing a staggering 3.2% annual increase in Canada's population. Marcus uncovers the implications on infrastructure, housing demand, and the economy. Is Canada being governed with a short-term vision, and how does it compare to successful long-term strategies?
🔍 Marcus draws parallels between Canada's current economic predicament and the management principles of successful companies like Amazon. Are we sacrificing long-term prosperity for short-term gains, and what does it mean for the future of our nation?
🌐 Share your thoughts in the comments section below! Marcus wants to hear from you – is he becoming too right-wing, or is he shedding light on the critical issues our country is facing? Don't miss out on this thought-provoking episode that challenges the status quo and calls for a comprehensive, long-term game plan to secure Canada's economic future.
👍 If you find this episode enlightening, hit the like button, subscribe for more eye-opening content, and join the conversation. Your insights could shape the next episode of Make Money Count!
Join Marcus Tzaferis on the latest episode of Make Money Count as he delves into the intricate landscape of 2024 real estate dynamics. In this insightful discussion, Marcus reflects on diverse perspectives, providing a nuanced understanding of the potential scenarios that may unfold in the coming year.
Beginning with his own forecast of interest rates declining in June 2024, Marcus sets the stage for a comprehensive exploration of predictions, including the bold projections from TD Bank, which anticipates a substantial 2.75% drop in the prime rate by 2025.
Throughout the episode, Marcus critically examines varying viewpoints, offering viewers a well-rounded perspective on the potential market shifts. A seasoned hedge fund manager's contrarian stance challenges conventional wisdom, suggesting that the anticipated bull run on bonds may not materialize as expected.
The discussion also navigates through scenarios ranging from an economic resurgence triggered by plummeting interest rates to the potential consequences of prolonged high rates leading to a crash in asset prices. Marcus provides practical advice, urging caution and strategic decision-making in this uncertain landscape.
Whether you are contemplating a new home purchase or managing your mortgage, this episode offers invaluable insights to help you make informed decisions. Subscribe now and stay tuned for more episodes of Make Money Count as Marcus Tzaferis continues to unravel the complexities of the financial world.
As we bid farewell to 2023, Marcus Tzaferis brings you the last episode of "Make Money Count" for the year, brought to you by Cannect Home Financing. In this insightful podcast, Marcus delves into the intricate details of the most recent Consumer Price Index (CPI) numbers and their implications for the economic landscape in 2024.
Decoding the CPI NumbersThe episode kicks off with an exploration of the headline CPI for November, standing at 3.1%, slightly higher than anticipated. Marcus highlights the initial concerns and the speculation about the Bank of Canada's potential response to this figure, given the current economic climate marked by high interest rates and wary consumers.
Stripping Down the CPIMarcus takes a closer look at the CPI components, isolating borrowing costs and shelter costs to reveal a more realistic picture of the economy. This nuanced analysis sets the stage for a discussion on the trajectory and expectations for interest rates in 2024.
Bond Market and CDOR AnalysisDrawing insights from the bond market and the CDOR market, Marcus provides a comprehensive overview of how these markets have digested the CPI information. He shares observations from the Royal Bank of Canada, reassuring that the 3.1% CPI number isn't a cause for major concern, attributing it to shelter costs and rental costs.
Interest Rates: Past, Present, and FutureThe podcast unfolds a narrative around interest rates, highlighting their impact on consumer confidence and spending. Marcus dissects the five-year Government of Canada bond yield, emphasizing its role as a pricing mechanism for fixed-rate products. He forecasts potential rate drops in 2024 and analyzes the implications of a Bank of Canada rate adjustment.
Economic Indicators and Recession ConcernsAs the discussion deepens, Marcus draws attention to indicators signaling a potential recession. Quoting economist David Rosenberg, he suggests that Canada might already be in a recession when stimulus factors are stripped away, emphasizing the critical role of immigration in the economy.
Real Estate and Housing Market PredictionsThe podcast takes an interesting turn as Marcus delves into the real estate market. He sheds light on the correlation between interest rates and housing prices, predicting potential shifts in the market based on interest rate adjustments. The discussion encompasses the government's initiatives, including the recent $500 million allocation for housing in Toronto.
Optimism and Wishes for 2024Closing the episode on an optimistic note, Marcus shares his expectations for 2024, foreseeing lower interest rates. He encourages listeners to consider variable rate mortgages to leverage potential rate drops and advises caution with fixed-rate products.
As the episode concludes, Marcus extends warm holiday wishes from all at Cannect, expressing hopes for a prosperous 2024. The podcast offers a comprehensive and insightful exploration of the economic tapestry, leaving listeners equipped with knowledge to navigate the uncertainties and opportunities of the coming year.
Hey Money Makers! 💰 Marcus Tzaferis is back on Make Money Count, dropping some truth bombs about the recent Bank of Canada announcement. Brace yourselves, because it's a game-changer! 📈🤯
In this episode, Marcus dissects the surprising decision to maintain the overnight rate, leaving the prime rate at a staggering 7.2%. 🏦 What does this mean for those with variable rate mortgages? Hold onto your hats!
But wait, there's a twist! Bond yields are taking a nosedive, hinting at significant drops in interest rates for 2024. 📉 What's causing this shift? Marcus unravels the impact of Canadian consumer spending and confidence on our economic future.
Get ready for some bold predictions as Marcus dives into the CDOR market, forecasting a potential 50 basis point drop by March and a whopping 75% chance of a 75 basis point decrease by mid-2024! 📆💹
Is the Bank of Canada playing hardball or just missing the mark? Marcus reflects on the challenges of threading the economic needle, urging for a timely shift to accommodative policies. ⏰✨
Discover the potential consequences of delayed rate adjustments on the real estate market and consumer confidence. Marcus passionately calls for action, making a direct appeal to "Hey, Tiff, cut the overnight rate 50 basis points today!" 📣✂️
Don't miss out on Marcus's insights into the complex dance between interest rates, consumer behavior, and the overall economic landscape. 🌐💡
Ready to make money count in 2024? Tune in now and join the conversation! 🎧💼 Don't forget to hit like and subscribe to stay ahead of the financial game. Your wallet will thank you!
Today, we're delving into a crucial topic – the five strategic ways to access your home equity. Join me as we explore the pros and cons of each path, empowering you to make informed financial decisions.
Before we dive in, don't forget to hit subscribe and give us a thumbs up if you find this content valuable. Your support means the world to us.
Now, let's get down to business. Accessing your home equity is a pivotal financial move, and understanding the nuances can save you a significant amount of money. First off, equity is the difference between your home's value and the registered debt against it. So, how can you unlock this potential financial resource?
In today's episode, we'll explore five options:
1) Home Equity Loans: A quick and straightforward way to tap into your home's equity with a separate loan and interest rate. Learn about the exit strategy to reduce costs.
2) Home Equity Line of Credit (HELOC): A coveted option for those with excellent credit and income. Though challenging to qualify for, HELOCs offer flexibility with predetermined limits and fluctuating interest tied to the prime rate.
3) Mortgage Add-On: Add a new mortgage to your existing one without breaking the first mortgage. It is ideal for accessing more equity at a fixed or variable rate.
4) Blend and Extend: Blend new money with your current mortgage at a higher rate, giving credit for the old lower rate. Available to select clients at select banks, with requalification required.
5) Breaking and Refinancing: A drastic option when others are off the table. Break your existing mortgage for an entirely new one, but be cautious as it often leads to higher rates and requires income and credit qualification.
Each option has its considerations and qualifications, so understanding your unique situation is key. We've also got a handy tool (check the link below) that provides real-time rates for home equity loans, guiding you toward the most cost-effective option.
Please leave your comments below, and let's continue the conversation. Don't forget to hit the like button and subscribe for more insightful content. Remember, financial success is about staying informed and making choices aligned with your situation.
Thanks for tuning in to Make Money Count – where your financial empowerment begins!
In the latest episode of Make Money Count with Marcus Tzaferis, we unravel the intricate relationship between Canadian bond yields and mortgage rates. Brace yourself for a jaw-dropping revelation that will change the way you perceive mortgage financing!
📉 Bond Yields Exposed: Marcus takes us back 20 years, unveiling the not-so-secret connection between government bond yields and mortgage rates. The shocking truth? It's a cat-and-mouse game where banks maximize profits at the expense of the average Canadian consumer.
🔍 Portfolio Insurance Fallout: Discover the aftermath of the Liberal government's decision to end portfolio insurance in 2016. Marcus exposes the two-tiered interest rate system, leaving us to question if the removal of portfolio insurance was truly in the best interest of Canadian taxpayers.
📊 Charts Unveiling Trends: Dive deep into the charts with Marcus as he analyzes the shifts in bond yields from July to November. The five-year fixed rate, the one-year, and the variable rate—all dissected to reveal how the banks are strategically adjusting their profit margins.
💡 Bank Tactics Exposed: Learn how banks are playing a clever game with consumers, subtly influencing their mortgage choices. From the three-year fixed rates to the one-year options, Marcus breaks down the tactics banks use to squeeze out every bit of profit.
🤔 Consumer Beware: Marcus warns Canadian consumers about the hidden motives of banks and urges them to seek unbiased advice from independent mortgage brokers. With insightful commentary on where to find reliable information, this episode empowers you to make informed decisions.
🌐 Navigating the Mortgage Maze: In a cat-and-mouse scenario between banks and consumers, Marcus provides guidance on choosing between a one-year fixed and a five-year variable. A must-watch for anyone planning to navigate the complex world of mortgages in Canada!
🔒 Portfolio Insurance Impact: If you own a home valued over $1 million with more than 20% equity, this episode exposes how the removal of portfolio insurance has significant implications for you. Don't miss the chance to gain valuable insights and leave your questions in the comments for a potential follow-up episode!
🎙️ Join Marcus Tzaferis in this eye-opening episode of Make Money Count, where financial transparency meets consumer empowerment! 🚀
Welcome back to Make Money Count! In this episode, Marcus and Justin delve into the intricacies of Canada's economy, particularly in light of the recent inflation report. To start, they comprehensively break down the Consumer Price Index (CPI) and examine its impact on inflation through mortgage rates.
As the conversation unfolds, the hosts address the challenges faced by small businesses, such as the effects of rising interest rates. They also discuss the substantial role of the housing market in Canada's GDP. Additionally, they explore the intricate connections between interest rates, business challenges, and consumer spending, offering a holistic view of the economic landscape.
Zooming in on the Toronto real estate market, the hosts underscore how interest rates significantly influence housing affordability. With a forward-thinking perspective, Marcus and Justin predict potential changes in interest rates, drawing insights from both the bond and CDOR markets.
Join us to gain a deep understanding of economic trends impacting your finances. Don't forget to engage by liking, subscribing, and sharing your thoughts. For more captivating content, follow us on Facebook and Instagram. Tune in for invaluable insights guiding you to make well-informed decisions in the ever-evolving economic landscape.
Welcome to 'Make Money Count,' presented by Cannect Home Financing and hosted by Marcus Tzaferis. In this eye-opening episode, we dive headfirst into Canada's pressing housing crisis.
As the housing affordability nightmare continues to grip the nation, all eyes are on the Conservatives and their proposed solutions. Join us as we unravel the details of the Conservative Party's plans to address Canada's housing catastrophe. Can they deliver solutions that will make a difference?
This episode is fuelled by our audience's engagement and the urgent need for housing reform. We want to hear from you, so don't forget to like, subscribe, and leave a comment to share your thoughts on the Conservative Party's potential role in solving this crisis.
Don't miss this crucial discussion on the state of housing in Canada. Tune in and find out if the Conservatives have what it takes to save the day.
In this episode of 'Make Money Count,' hosted by Marcus Tzaferis and presented by Cannect Home Financing, we dive into essential mortgage topics that matter to you. Whether you're facing a mortgage renewal, looking for extra cash, or simply want to stay informed about the current market, we've got you covered.
We discuss the implications of low mortgage rates and how they can impact your financial decisions. Plus, we break down the probabilities of future rate movements, offering insights into what you can expect in the coming years.
If you're wondering what to do with your mortgage or how to access additional capital, this episode provides valuable strategies and options to consider. Remember, when it comes to mortgages, time and information are your allies. Don't settle for your bank's limited options – explore a wider range of possibilities with the help of an independent mortgage consultant.
We explore the top five ways to get money out of your home, from blending and extending your existing mortgage to the nuances of home equity lines of credit, second mortgages, and the last-resort option of breaking your current mortgage.
Our goal is to empower you with the knowledge and strategies needed to make the most of your mortgage. So, tune in, like the video, subscribe to our channel, and leave your comments below to let us know what topics you'd like us to cover in future episodes. Your questions and feedback drive the content we create.
Thank you for joining us on 'Make Money Count,' where we demystify the world of mortgages and help you make informed financial decisions.
Welcome to another exciting episode of Make Money Count, hosted by Marcus Tzaferis. Proudly presented by Cannect Home Financing, Toronto's premier mortgage brokerage.
In this latest episode, we dive deep into the freshly issued monetary policy report from the Bank of Canada. We unpack valuable insights and updates that could significantly impact your financial decisions.
In this episode, we cover:
Interest Rate Developments:Discover why the Bank of Canada has pressed the pause button on interest rate hikes. Get the lowdown on the current 5% overnight rate and the 7.2% prime rate. We'll walk you through the rationale behind these decisions and explore their implications for the CDOR market. Find out what it all means for potential future rate adjustments.
Jamie Dimon's Perspective:Renowned financier Jamie Dimon shares his candid thoughts on central bankers. We delve into his viewpoint and discuss its relevance in the context of monetary policy and the financial landscape.
Economic Projections:The Bank of Canada's latest growth forecasts may surprise you. We'll examine their revised expectations for the Canadian economy in 2022, 2024, and 2025. Learn why these figures matter and what they reveal about the Bank's evolving outlook.
Inflation Insights:Uncover the factors contributing to inflation, including corporate pricing behavior and the evolving landscape of oil prices. We'll explain how these elements are impacting consumer prices and the economy at large, shedding light on potential inflationary trends and what to watch for.
Consumer Sentiment and Spending:Explore the challenges of declining consumer sentiment and spending in the face of rising debt costs. Discover how these trends can affect corporate behavior and, in turn, influence inflation trends.
Interest Rate Projections:We'll break down the Bank of Canada's decision to maintain interest rates and discuss key takeaways from the monetary policy report. Understand the implications for your financial choices.
Future Rate Expectations:What are the probabilities for rate changes in 2024? We'll analyze the Cedar market's responses to the Bank of Canada's decisions and discuss the likelihood of future interest rate adjustments.
Mortgage Considerations:If you're in the market for a mortgage renewal, you won't want to miss our advice on variable vs. fixed rates. We'll provide insights into why staying flexible with your mortgage choice could be a smart move in the current economic climate.
In this thought-provoking episode, we'll equip you with the knowledge to make informed financial decisions and navigate the ever-changing landscape of monetary policy and economic trends.
Don't forget to like, comment, and subscribe to Make Money Count for more insightful content that empowers you to make the most of your finances. Thank you for joining us and stay tuned for more valuable updates in the world of finance and economics.
Welcome back to the "Make Money Count" podcast by Cannect Home Financing, Toronto's leading Mortgage Brokerage. In our latest episode, titled "Inflation Showdown: Will Interest Rates Soar or Plunge?," our host, Marcus Tzaferis, breaks down the recent inflation report and its implications for the Canadian economy and mortgage market.
In this insightful episode, Marcus delves into the key details of the Stats Can report, analyzing the recent changes in the Consumer Price Index (CPI), and how it affects the Bank of Canada's interest rate decisions. With a focus on the probability of interest rate increases and their subsequent effects on the market, Marcus provides valuable insights to help you make informed decisions regarding your mortgage.
Learn how stripping out components like gas, food, and mortgage interest can paint a clearer picture of Canada's inflation rate, and discover why the Bank of Canada might be looking for a "soft landing" for the economy. Marcus's analysis goes beyond the numbers to explore the implications for borrowers and real estate in Canada.
If you're a homeowner, potential homebuyer, or someone interested in the economic factors affecting your financial future, this episode is a must-listen. And don't forget to like, comment, and subscribe to our channel for more informative content that helps you "Make Money Count." If you have questions or specific topics you'd like us to cover in future episodes, feel free to leave a comment, and we'll be happy to address them. Stay informed and make your financial decisions with confidence!
In this episode, we dive deep into the complex world of interest rates and their profound impact on various aspects of the economy. We discuss the current state of the market, focusing on the rising bond yields and the potential effects on your mortgage, as well as the Government of Canada's substantial debt servicing costs.
Have you ever wondered how financial experts arrive at the secretive probability of interest rate changes? We demystify this process and explain how these probabilities are calculated using a specific financial instrument. Understanding this tool can help you gauge the likelihood of an interest rate hike and make informed financial decisions.
One of the key takeaways is the importance of locking in a fixed-rate mortgage if your renewal is coming up, given the rapidly increasing interest rates. We discuss why this decision is crucial for Canadian homeowners and why variable rates may not be the best option in the current economic climate.
We also delve into consumer confidence and spending, and how rising interest rates impact it. With startling statistics on Canadians' ability to make major loan payments, we explore the potential consequences of ongoing rate hikes on the economy and housing market.
Join us in this informative discussion and get a clearer picture of the economic landscape influenced by interest rates. Remember to subscribe, like, and share to stay updated with our latest insights and analysis.
The best mortgage brokers in Toronto return with a new episode of Make Money Count!
In this episode, we dive deep into the pressing issue of inflation in Canada and its far-reaching impact on the economy. Join us as we analyze the latest inflation report, discuss the three main drivers behind rising inflation, and explore the implications of higher interest rates.
Join the conversation as we unpack the intricacies of Canada's economic landscape and its uncertain path forward amidst rising inflation and interest rate pressures. Don't miss this insightful discussion on the challenges facing the Bank of Canada and what it means for Canadians in these turbulent times.
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PODCAST:
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iHeart Radio: https://www.iheart.com/podcast/269-make-money-count-85477969/
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📸 - IG: https://www.instagram.com/cannect.ca/
💼LinkedIn: https://www.linkedin.com/company/cannect-home-financing
👇👇YOUR BEST HOME MORTGAGE NOW AND FOREVER 👇👇
https://cannect.ca/
https://cannect.ca/
https://cannect.ca/
👇👇INVEST WITH CANNECT NOW👇👇
https://cannect.ca/mortgage-investment-corporation
✅ Averaging 8.11% returns.
✅ Nine years of established success
Welcome back to the Make Money Count Podcast by the best mortgage brokers in Toronto, Cannect!! In today's podcast, we're delving into the intricate world of mortgage rates, the role of the Liberal Government, and what lies ahead in the Canadian real estate market. Whether you're a prospective homebuyer, current homeowner, or simply curious about how politics and finance intersect, this video is a must-watch.
What's Explored in This PodcastIn this enlightening discussion, we uncover:
The fascinating relationship between government policies and mortgage rates.
How the Liberal Government's decisions have impacted the Canadian real estate landscape.
What this means for borrowers and potential homeowners.
Insights into the future of mortgage rates and the real estate market.
Why It's Crucial to UnderstandThis video sheds light on the crucial link between government actions and your financial decisions, especially when it comes to buying or owning a home. By understanding the dynamics at play, you'll be better equipped to navigate the ever-changing landscape of mortgage rates.
Key Dates to Keep in MindStay informed! We also discuss the anticipated changes in interest rates and how they might unfold in light of the Liberal Government's policies. Plus, we touch on broader economic factors that could influence the real estate market.
Join us on this informative journey through the world of Canadian mortgage rates, government policies, and the future outlook. Don't forget to hit the like button, share this video with others who might find it valuable, and subscribe for more insightful content on real estate, finance, and government impact!
Stay Connected With UsQuestions or thoughts? Share them in the comments section of YouTube, and let's engage in a meaningful discussion. Thank you for tuning in, and get ready to uncover the crucial connections between mortgage rates, government policies, and your financial future!
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Welcome back to another episode of Make Money Count! In this insightful podcast, your hosts Marcus and Justin team up to delve into the ever-changing world of mortgage lending.
Join us as we discuss the intricate details of the industry, offering you a front-row seat to understand how to make the most out of your financial opportunities.
Episode Highlights:
🏦 Exploring the current dynamics of mortgage lending in an evolving economy.
💼 How banks' tightening policies are reshaping the relationship with mortgage brokerages.
💡 The significance of trust and transparent communication in building client-broker connections.
💰 Unveiling the power of private lending to bridge gaps in complex financial scenarios.
🔑 Expert advice for borrowers seeking flexible solutions beyond conventional avenues.
Hosted by Marcus and co-hosted by Justin, this episode is packed with insights that cater to homeowners, prospective buyers, and financial aficionados alike. Our conversation dives deep into the core of today's mortgage landscape, uncovering the strategies and outlooks necessary to thrive in an ever-shifting economic environment.
🔗 Related Links:
https://MakeMoneyCount.com
🔔 Stay Updated: Subscribe to Make Money Count and turn on the notification bell to stay up-to-date with our latest episodes.
Share this enriching discussion with friends, family, and anyone interested in unlocking financial opportunities through insightful mortgage strategies.
We value your thoughts, so please leave your comments and questions below!
0:00-1:21 Introduction
1:21-3:21 Agents Relying on Us in Complicated Times
3:21-5:18 Navigating Uncertain Times as a Consumer
5:18-7:15 The Growing Complexity of Canadian Mortgages
7:15-10:11 The Current Market from Cannect's Perspective
10:11-12:15 Expert Advice for Mortgage Declines
12:15-14:05 Navigating the Hurdles of Mortgage Lending
14:05-14:33 Outro
MakeMoneyCount #MortgageInsights #FinancialOpportunities #RealEstateFinance #EconomicShifts #TrustInFinance
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PODCAST:
Apple: https://podcasts.apple.com/us/podcast/make-money-count/id1579718660
Spotify: https://open.spotify.com/show/60gGyKOiiN7fnKFknyFREJ
iHeart Radio: https://www.iheart.com/podcast/269-make-money-count-85477969/
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Welcome to the The Make Money Count Podcast! In this episode, we dive deep into the fascinating world of Net Interest Margins for the Big Six Canadian Banks. 🏦💰
Net Interest Margin (NIM) is a critical metric that reveals banks' profitability and how efficiently they manage their assets and liabilities. In this eye-opening presentation, we bring you exclusive insights and data about the NIM of the Big Six Canadian Banks.
Join us on this journey as we uncover the hidden strategies behind their interest income and interest expenses. We'll analyze the factors influencing NIM and how it impacts the banking industry.
🔍 Don't miss out on this valuable information! Hit the play button and gain a competitive edge in understanding the financial world of Canadian banks.
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Welcome to Make Money Count! In this episode, we dive deep into the world of mortgages and present to you the best mortgage options available in Canada today. Whether you're a first-time homebuyer or looking to refinance your current mortgage, this video is packed with valuable insights to help you make informed decisions.
🏡 Discover the secrets to securing the best mortgage rates and terms for your dream home in Canada. Our expert team has compiled years of experience and research to provide you with a comprehensive guide to finding the perfect mortgage solution. From understanding the different types of mortgages to exploring the eligibility criteria, we've got you covered!
🔍 We'll discuss the key factors lenders consider when evaluating mortgage applications, including credit scores, income verification, and debt-to-income ratios. Learn how to improve your chances of approval and negotiate favorable terms that suit your financial goals.
💡 Additionally, we'll share expert tips and strategies to help you navigate the mortgage process smoothly. Discover little-known techniques for reducing your mortgage payments, saving on interest, and even paying off your mortgage faster. Take advantage of our insider knowledge and empower yourself as a homeowner.
📚 Whether you're a prospective homebuyer or simply interested in the mortgage landscape of Canada, this video is a must-watch. Join us as we unravel the intricacies of mortgages and equip you with the knowledge needed to make confident decisions in the housing market.
0:00-0:43 Introduction 0:43-3:30 Market Analysis 3:30-4:49 Analyzing One-Year Fixed Rate 4:49-7:48 Analyzing Two-Year Fixed Rate 7:48-10:31Analyzing Three-Year Fixed Rate 10:31-13:31 Analyzing Five-Year Fixed Rate 13:31-17:31 Discussing Variable Rate Numbers 17:31-19:00 Predicting Bank of Canada's Next Moves 19:00-19:34 Outro
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The best mortgage brokers in Toronto are back with another Make Money Count podcast! Canada's economy recently experienced an unexpected boost in job growth, with the addition of 60,000 jobs in June, surpassing economists' expectations of a 20,000 increase. While this positive employment report is encouraging, experts remain divided on the implications it holds for the labor market and the overall economic outlook.
Unemployment Rate and Labor Market Indicators Despite the job gains, there is a noteworthy increase in Canada's unemployment rate, which now stands at 5.4%. This uptick suggests potential loosening in the labor market as more individuals enter the workforce without immediate job prospects. However, it is important to consider that this situation could have a silver lining for the Bank of Canada's objectives.
Bank of Canada's Perspective on Inflation and the Labor Market The Bank of Canada has been actively seeking to slow down the job market to control inflation. The rise in the unemployment rate may provide some relief to the central bank, as it could help alleviate inflationary pressures. By intentionally cooling down the labor market, the Bank of Canada aims to maintain price stability and prevent excessive inflation.
Wage Growth and Speculation on Interest Rate Hike While the overall employment figures are positive, the average hourly wage growth has experienced a slowdown in year-over-year growth, with an increase of 4.2% in June, the slowest rate since May 2022. Economists speculate that these wage growth trends may influence the Bank of Canada's decision on another potential interest rate hike.
Probability of an Interest Rate Hike Following the release of the jobs report, market data suggests that the probability of a rate increase has risen to 65%. This indicates that investors anticipate a potential tightening of monetary policy by the Bank of Canada in response to the recent labor market developments. However, it is worth noting that wage growth has eased, and wages for permanent employees have remained stagnant, which may provide some reassurance to the central bank.
What's Ahead Canada's unexpected job gains in June have sparked discussions among economists regarding the intricacies of the labor market and the broader economic landscape. While the increase in the unemployment rate signals potential challenges, it also presents an opportunity for the Bank of Canada to address inflation concerns. Wage growth trends and the probability of an interest rate hike further contribute to the ongoing debate on the future direction of monetary policy.
As we navigate through these economic dynamics, it is crucial for policymakers, investors, and individuals to remain vigilant and adaptable in understanding the complexities of the labor market and inflationary pressures. By examining these factors comprehensively, we can gain valuable insights and make informed decisions that will shape the trajectory of our economy moving forward.
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In this podcast, we delve into the recent decision made by the Office of the Superintendent of Financial Institutions (OSFI) to raise the domestic stability buffer for big banks. The move has garnered significant attention within the financial sector and has important implications for the stability of the Canadian banking system. We provide an in-depth analysis of the reasons behind this decision and its potential impact on the banking industry.
Understanding the Domestic Stability Buffer
The domestic stability buffer is a regulatory tool used by OSFI to ensure that banks have an adequate capital buffer to withstand potential financial stress. It serves as a safeguard against economic downturns and acts as a protective measure to maintain the stability of the banking system. By increasing the buffer, OSFI aims to enhance the resilience of big banks and reduce the risk of financial instability.
Rationale behind OSFI's Decision\ The decision to raise the domestic stability buffer stems from a careful assessment of various factors affecting the Canadian banking sector. OSFI closely monitors the risks and vulnerabilities within the financial system and adjusts the buffer accordingly. The recent increase is a proactive measure to address potential risks and strengthen the resilience of big banks.
Factors Driving the Increase
- Economic Outlook
OSFI takes into account the prevailing economic conditions and the outlook for future growth. By considering factors such as GDP growth, inflation, and unemployment rates, OSFI assesses the potential impact on the banking system. The decision to raise the buffer indicates concerns about the economic environment and the need for banks to be prepared for adverse scenarios.
- Housing Market Vulnerabilities
The Canadian housing market has experienced significant growth in recent years, raising concerns about potential vulnerabilities. OSFI recognizes the importance of mitigating risks associated with mortgage lending and real estate exposure. The increase in the domestic stability buffer serves as a preventive measure to address these vulnerabilities and ensure the soundness of banks' mortgage portfolios.
- Global Financial Conditions
OSFI closely monitors global financial conditions and their potential impact on the Canadian banking system. Volatility in international markets and uncertainties surrounding global trade can pose risks to banks' stability. The decision to raise the buffer reflects OSFI's commitment to proactively manage these risks and maintain the resilience of the banking sector.
Potential Implications
The increase in the domestic stability buffer will have several implications for big banks and the broader financial system.
- Strengthened Resilience
By raising the buffer, OSFI is reinforcing the resilience of big banks and their ability to weather adverse economic conditions. This measure ensures that banks have a sufficient capital buffer to absorb losses and maintain the provision of essential financial services.
- Enhanced Financial Stability
A stronger capital position for banks contributes to overall financial stability. The increased buffer mitigates the risk of potential failures and reduces the likelihood of taxpayers bearing the burden of a bank bailout. This move aligns with OSFI's mandate to promote the stability and efficiency of the financial system.
- Impact on Lending and Profitability
The higher domestic stability buffer may influence banks' lending practices and profitability. With a larger capital requirement, banks may exercise more caution in extending credit, particularly in riskier segments such as mortgage lending. This could have implications for borrowers and potentially slow down credit growth in certain sectors.
Conclusion
In conclusion, the decision by OSFI to raise the domestic stability buffer for big banks underscores the importance of maintaining a resilient and stable banking system. The increase is driven by a careful assessment of various factors impacting the Canadian financial landscape. By strengthening the capital position of banks, OSFI aims to mitigate risks, promote financial stability, and safeguard the interests of depositors and the broader economy.
Welcome to the Make Money Count podcast, brought to you by Cannect Home Financing, your trusted mortgage broker in Toronto, Canada.
In this episode, we delve into the current state of the Canadian housing market and explore the factors that may contribute to a potential rise in interest rates. Join us as we discuss the impact of higher interest rates on Canadian consumers and address the challenges in meeting the housing demand. Additionally, we touch upon recent successes in the stock market and provide practical advice for Canadian homeowners.
We'll try to provide practical advice specifically tailored to Canadian homeowners. From managing mortgage payments to exploring refinancing options, we offer actionable tips to help homeowners make the most of their investments. Whether you're a first-time buyer or a seasoned homeowner, these valuable insights can guide you in making informed decisions to optimize your financial well-being.
We will also explore various aspects of the Canadian housing market, including its current status, the potential rise in interest rates, the impact on consumers, challenges in housing supply, recent stock market successes, and practical advice for mortgage planning. By equipping listeners with knowledge and expert perspectives, Cannect Home Financing aims to empower individuals to make informed decisions and navigate the ever-changing financial landscape with confidence.
Stay tuned for more episodes of Make Money Count, where we continue to explore topics related to personal finance, investment strategies, and the Canadian real estate market. Remember, when it comes to your financial future, every decision counts.
Transcript: What Interest Rate Should Canadians Take In 2023 - Make Money Count 063 Transcript
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The finance podcast hosted by the team with the lowest Home Equity Loan returns with another episode of Make Money Count! The latest podcast episode centers around the recent inflation reading and its implications for the Canadian housing market.
InflationThe inflation rate came in higher than expected. Driven primarily by increases in shelter costs such as rental rates and mortgage interest. This has created a cyclical effect where inflation causes increased interest rates, leading to higher debt servicing costs and rising rental prices. The conversation also touches on the likelihood of the Bank of Canada increasing interest rates again and the impact on five-year fixed mortgage rates. As the housing market remains resilient with climbing prices and transactions. It is expected that interest rates will stay elevated for a longer duration, prompting consumers to consider fixed-rate mortgages over variable-rate options.
Supply & DemandThe discussion continues around the factors influencing the impact of supply and interest rates on housing prices. The lack of supply is a key reason for the increase in prices. The longer interest rates remain high, the higher the probability of more supply entering the market. The availability of supply will be the determining factor in whether prices go down. If banks change their approach to borrowers who are struggling to meet new payment terms, more properties could hit the market.
Clients who took shorter-term mortgages during COVID and now face higher interest rates may consider selling their properties. The conversation shifts to the influence of the media frenzy on housing prices. It is acknowledged that the media coverage created fear among people, discouraging them from taking action in the market.
The trend of stretching out amortization and moving up the property ladder will change, with some suggesting that people may be stuck in their homes longer, waiting for equity and lower amortization. However, that stability in housing prices has been maintained, and once interest rates drop and costs increase, the market dynamics could return to a similar pattern.
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Transcript: Is Inflation Creeping Back Into The Canadian Economy - Make Money Count 062
The team behind Toronto's best home equity lenders is back with another edition of Make Money Count! In this episode, Marcus is joined by Rina DiRisio, a skilled real estate agent with 30 years in the industry.
Interest RatesThe Canadian housing market has been a topic of much discussion and debate, with concerns about affordability, supply, and demand at the forefront of many conversations. Marcus and Rina highlight some of the key issues currently facing the market, including worries about supply and the impact of interest rates. Did you know 20% of all mortgages currently held by banks are not servicing the interest on their mortgage? This could lead to a greater supply issue if banks become worried about holding the line. This concern is compounded by the fact that many of these mortgages have amortization exceeding 35 years. Which could lead to negative equity positions for homeowners.
Housing SupplyThese concerns about supply are not unfounded. Higher rates could lead to an increase in mortgage defaults, which could in turn lead to a surplus of supply. This could be particularly problematic in areas where there is already a high level of inventory on the market. Marcus and Rina's conversation highlight the delicate balance between supply and demand in the Canadian housing market.
While demand for homes remains strong, there are concerns about the ability of the market to continue to supply enough homes to meet this demand. This is particularly true in areas with high levels of inventory. Where rising interest rates could lead to a decrease in demand and an oversupply of homes.
What's Ahead?One potential solution to these issues is to increase the supply of new homes on the market. This could be achieved through various measures, including changes to zoning laws, increased incentives for developers, and the creation of new affordable housing units. By increasing the supply of homes on the market, it may be possible to alleviate some of the concerns around affordability and supply, while also ensuring that demand for homes remains strong.
Another potential solution is to address some of the underlying issues that are contributing to the current state of the market. This could include measures to address income inequality and the wealth gap, making it easier for more Canadians to afford homes. It could also involve greater investment in public infrastructure. Making it easier for people to access jobs and other opportunities outside of major urban centers.
Ultimately, the Canadian housing market is facing a complex set of challenges that will require a multifaceted approach to solve. We need to address both the supply and demand side of the equation. By working to address the underlying issues that are contributing to the current state of the market, it may be possible to create a more sustainable, equitable, and affordable housing market in Canada.
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Ontario's best mortgage broker, Cannect Home Financing, returns with another episode of Make Money Count. This episode breaks down the Bank of Canada's April 2023 Monetary Policy Report. We also sit with Peter Philip Papousek of Team Papousek, who is in the Top 25 Real Estate Teams in Remax Canada and one of the country's best luxury real estate agents.
Bank of Canada Monetary Policy ReportLet's talk about inflation. The report shows that prices for things like food, gas, and housing have been going up, and that's not good news for our wallets. Supply chain disruptions and increased demand are some of the reasons behind it. However, the report also says that the central bank expects inflation to ease in the next few months, which is a bit of a relief.
Another thing to keep an eye on is government spending. With the new Canadian budget announcement, the government is due to spend a lot of money. While it has helped support businesses and households, there are concerns about the long-term impact on inflation and the overall economy.
Interest rates are also important to understand. The report suggests that interest rates will likely stay the same until the end of the year, which means borrowing money might not get more expensive for now. However, it's worth noting that previous interest rate increases could still affect the economy, and some Canadian banks are allowing mortgages to run, which could add to the challenges we face as Canadians.
Let's meet Peter Philip PapousekPeter Philip Papousek is a real estate agent associated with RE/MAX in Mississauga, Ontario, with a wealth of expertise in the local market, making him the go-to professional for all your real estate needs.
What sets Peter apart is his impressive track record, including the record sale of a high-priced home in Mississauga. His exceptional negotiation skills and market insights have earned him a reputation for delivering outstanding results for his clients. Peter's commitment to excellence and personalized approach ensures that he goes above and beyond to exceed his client's expectations.
But Peter's expertise isn't just about numbers and sales. Real estate is a family affair for Peter, as his father was also involved in the business. Peter's deep-rooted passion for real estate and his family's legacy is evident in his unwavering dedication to his clients and his genuine care for their real estate needs.
Whether you're looking into buying luxury real estate, are a seasoned real estate investor, or looking to sell your property, Peter Philip Papousek is the trusted professional you can count on. Contact him today to experience his unparalleled service and expertise in helping you achieve your real estate goals.
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Are you curious about how world issues can impact interest rates? Well, buckle up, because the best mortgage brokers in the business return, helping you to understand this connection. An essential part of managing your finances.
Simply put, world issues, such as economic instability or geopolitical tensions, can ripple effects on interest rates. For example, if there is a global economic downturn, central banks may lower interest rates to stimulate borrowing and spending. This can make it easier for you to get a loan, but these times typically don't last long.
On the other hand, if inflation becomes a concern, central banks raise interest rates to make borrowing more expensive and slow economic growth. This can make it harder to get a loan.
It's also worth noting that world issues can affect different interest rates in different ways. For instance, the Federal Reserve sets the federal funds rate, which is the interest rate that banks charge each other for overnight loans. This rate can have a significant impact on other interest rates, such as credit card interest rates, student loan interest rates, and mortgage rates.
Additionally, international events can impact exchange rates, which can, in turn, affect interest rates. For example, if a country's currency depreciates, it may become more expensive to import goods, which can lead to higher inflation and higher interest rates.
Why should you care?So, why should you care about this? Well, for starters, if you're planning on taking out a mortgage in the near future, understanding how world issues can impact interest rates can help you make informed decisions about when and how to borrow. If interest rates are high, you may want to hold off on refinancing until they come down. In the meantime, a home equity loan is probably better for you.
Similarly, if you're looking to save money, it's essential to pay attention to interest rates. If you're trying to build an emergency fund, for example, you'll want to look for a savings account with a high-interest rate so that your money can grow faster.
Overall, while world issues may seem far removed from your everyday life, they can have a significant impact on your finances. By staying informed about global events and understanding how they can impact interest rates, you'll be better equipped to make smart financial decisions.
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Welcome back to Make Money Count, the podcast by the best mortgage brokers in the GTA, Cannect Home Financing. In this latest episode, we discuss the details of the Canadian 2023 Budget Announcement and the fall of Silicon Valley Bank. Buckle up, because it's a wild ride!
Silicon Valley Bank grew its deposits significantly, largely due to the tech companies and venture capitalists in Silicon Valley. They needed to put that capital to work to earn a yield on those deposits, so they invested in what they perceived to be low-risk bonds. However, when deposit holders wanted to withdraw their money, the bank had to liquidate those bonds, which resulted in a loss. This loss was so significant that it exceeded the bank's market capitalization, putting the bank in a vulnerable position.
Peter Thiel, a well-known venture capitalist, instructed companies to take their money out of the bank, which led to a run on the bank as word got out. The FDIC backstopped the bank, which meant that depositors were not supposed to lose their money, but anything over $250,000 was supposed to be gone. However, the FDIC is a fund paid into by banks, not taxpayers, and the decision was made to backstop all deposits.
The main takeaway from this crisis is that banks can be vulnerable if they don't have a sufficient capital buffer to absorb losses from their investments. Additionally, media outlets like CNBC may not always provide information that helps predict market events, as they may only report on events after they happen.
The Canadian 2023 budget has been criticized by some, including Conservative Leader Pierre Poilievre, who called it a "spending bonanza" that will fuel inflation and harm taxpayers. Others have criticized the budget for not addressing the housing crisis in Canada, which has become a pressing issue in many urban centers. The Residential Construction Council of Ontario, for example, said that the budget does not fully address the systemic problems delaying the construction of much-needed housing.
Overall, the 2023 Canadian federal budget is a bold attempt to address some of the most pressing issues facing the country today. While it may not be perfect, it will be interesting to see how these measures play out over the coming years.
We dive into all these topics and more on the latest episode of Make Money Count. Be sure to subscribe on your favorite platform!
This episode does not constitute as financial advice. Past performance is not indicative of future results. See Offering Memorandum for details and risks. As of February 15, 2023, average return is 8.14% annualized since inception with DRIP and loan to value ratio is 52.3%.
The global economy is facing an unprecedented crisis, one that combines the worst aspects of both the 1970s-style stagflation and the 2008 debt crisis. This new phenomenon, known as the stagflationary crisis, is characterized by a combination of high inflation and low economic growth. In this article, we will discuss what a stagflationary crisis is and how it combines aspects of both.
We will also examine the potential responses of the Federal Reserve and the Bank of Canada to the crisis, as well as provide advice for investors on how to protect themselves against a potential recession, debt crisis, and out-of-control inflation. Finally, we will take a closer look at how rising mortgage rates have impacted housing affordability in Canada and what steps the bank is taking to monitor and proactively reach out to clients at higher risk of financial stress.
What is a Stagflationary Crisis?A stagflationary crisis is a unique economic phenomenon that combines the characteristics of both stagflation and a debt crisis. Stagflation is a situation where an economy experiences stagnant economic growth and high inflation. In contrast, a debt crisis occurs when many borrowers default on their debts, causing widespread financial instability. The stagflationary crisis combines these two problems. The result is a situation where the economy experiences high inflation and low growth, while simultaneously facing a debt crisis.
How will the Bank of Canada Respond?Historically, the Bank of Canada might respond to a potential debt crisis, stock market crash, or explosion in debt defaults by implementing a series of monetary policies. These policies may include lowering interest rates, purchasing government bonds, and providing liquidity to financial institutions. The ultimate goal of these policies would be to stimulate economic growth while keeping inflation under control. However, with inflation at its current levels, this may not be an option for the Bank of Canada for some time.
Investor Strategies for Navigating the CrisisAs an investor, there are several steps you can take to protect yourself against the potential recession, debt crisis, and out-of-control inflation. One strategy is to diversify your investment portfolio to minimize risk. Another approach is to invest in assets that tend to perform well during times of economic crisis. An investment like gold, or in mortgage investment funds, such as the Cannect MIC.
Comparison of the Actions of the Federal Reserve and the Bank of CanadaThe actions of the Federal Reserve and the Bank of Canada during the crisis have been similar in many respects, with both central banks implementing a variety of monetary policies to stabilize the economy. However, there have been some key differences between the two banks, such as the Fed's preoccupation with contemporaneous and lagging economic indicators, which carries risks.
Impact of Rising Interest Rates on Variable-Rate Mortgage HoldersThe rising interest rate has had a significant impact on variable-rate mortgage holders, with many experiencing higher monthly payments. However, the percentage of Canadians with variable rates is relatively low, with most opting for fixed-rate mortgages instead. But are banks taking steps to monitor and proactively reach out to clients at higher risk of financial stress? That is yet to be seen.
In conclusionThe potential risks of recession, debt crisis, and inflation are on the minds of many investors and economists today. However, by remaining disciplined, diversified, and focused on long-term goals, investors may be better positioned to weather short-term market volatility. Additionally, it is worth monitoring the impact of rising mortgage rates on the Canadian housing market and considering the actions and approaches of central banks like the Fed and the Bank of Canada.
Finally, investment opportunities such as the Cannect MIC thrive during times like these as property owners look for ways to access equity and get them through this economic time.
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0:00 - Intro1:12 - CIBC and eroding equity from mortgages6:17 – How is the Bank of Canada making decisions for interest rates?9:25 – Minimum wage and inflation12:03 – US vs Canada inflation strategies13:50 – Affects on the Housing Market19:00 – When’s the right time to buy?23:09 – Stagflation25:09 - Nouriel Roubini and the Perfect Storm35:15 – Cannect MIC vs Mutual Funds42:36 – What’s going to happen next?48:53 – Is this the new normal?
Welcome back to Make Money Count, hosted by the best mortgage brokers in the GTA, Cannect!
If your mortgage is up for renewal soon, you may be feeling anxious about the possibility of renewing your mortgage in a high interest rate environment. While it's true that interest rates have risen over the past year, there are still ways you can secure a mortgage with a low interest rate. In this blog post, we'll share some tips on how to renew your mortgage in a high interest rate environment.
First, it's important to shop around for the best mortgage rate. Don't simply accept the renewal rate offered by your current lender without doing some research first. By shopping around and comparing rates from different lenders, you can find a better deal that will save you money in the long run.
Second, consider getting a shorter mortgage term. While a longer term may seem more appealing, a shorter term can actually help you save money in the long run. A shorter term means you'll pay off your mortgage sooner and will likely have a lower interest rate.
Finally, consider speaking to a mortgage agent to discuss your options. At Cannect, we offer a range of mortgage solutions that can help you save money on your mortgage. In our recent podcast, we discussed some of these solutions in more detail, so be sure to check it out.
RRSP ContributionAdditionally, we also want to remind our readers to contribute to their RRSP before March 1st. By contributing to your RRSP, you can reduce your taxable income and save money on your taxes. This can be especially helpful if you're worried about your mortgage payments in a high interest rate environment.
Renewing your mortgage in a high interest rate environment can be stressful, but by following these tips and consulting with a mortgage agent, you can find a mortgage solution that works for you. Don't forget to check out our podcast for more information and to contribute to your RRSP before March 1st to save money on your taxes.
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Toronto's best mortgage brokers are back with another episode of the Make Money Count Podcast. In this episode Marcus and Justin give an update to the economic responses of 2022. The topics of discussion: Inflation Surges, Interest Rates Rise, and the Housing Market Correction.
Overall, 2022 was a year of rapid tightening and inflation, with the economy remaining strong but certain indicators pointing towards a potential recession. The housing market also saw a correction, with affordability challenges leading to a rising outflow of residents from Toronto.
Follow along on the charts by visiting the episode page.
If you are in need of a home equity loan, Cannect should be your first contact.
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Welcome to another episode of Make Money Count, the podcast from the best mortgage brokers in the GTA.
As mortgage professionals, we know that this industry can be highly competitive and fast-paced. That's why it's important to have a strong team by your side, whether it's a group of brokers working together or a business partner you can rely on.
In this episode of our podcast, we were joined by Ben Ferguson, a top real estate agent with Matt & Ben Toronto Real Estate Team. A good friend who has been in the industry for over 20 years. As we reminisced about our careers, we realized that our friendship and mutual trust have been integral to Cannect's success in the mortgage industry.
Working with someone you enjoy being around and who you trust can make all the difference in the daily challenges and long-term goals of any industry. When you have a supportive team, it's easier to navigate the complex world of mortgage lending and take advantage of opportunities to grow your business.
But strong business partnerships aren't just about having someone to share the workload with. A mentor or someone to bounce ideas off of can also be invaluable in the mortgage industry. In our experience, good communication and collaboration are key to building a successful mortgage brokerage, or real estate team.
Ultimately, building strong, supportive relationships is essential in the real estate and mortgage industries. Whether it's a team of brokers or a long-term business partner, having a group of people you trust and enjoy working with can lead to long-term success and make the journey more enjoyable.
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Welcome to our episode on Canada's down payment assistance program and current pre-construction home prices! Cannect, Toronto's best mortgage brokerage, are here to provide you with all the information you need to make the best decision for your financial future. Whether you're considering a pre-construction home or looking for assistance with your down payment, we're here to help. With our expertise and knowledge of the Canadian mortgage market, we help you navigate the process and find the best solution for your needs.
On The Show...Down Payment AssistanceCanada's Down Payment Assistance Program is a government-funded program designed to help Canadians purchase their first home. The program provides a grant of up to 5% of the purchase price of a home, or up to $25,000, whichever is less. The grant is available to first-time home-buyers with a household income of less than $120,000 per year. The grant is intended to help cover the cost of a down payment, closing costs, and other expenses associated with purchasing a home. The program is administered by the Canada Mortgage and Housing Corporation (CMHC). We cover it all in detail in the episode.
Pre-Construction HomesFurther on the show we discuss if it's a good time to buy a pre-construction home. The uncertainty in the real estate market has people questioning. Pre-construction homes are often sold with a lot of assumptions. Therefore, some projections may not be that accurate in the current market. Additionally, the process of buying a pre-construction home can be complex and lengthy. It may be difficult to get financing. Finally, the value of the home may not appreciate as quickly as anticipated, leaving you with a property that is worth less than what you paid for it.
We invite you to listen to the podcast, where we discuss the ins and outs of down payment assistance programs. With the right knowledge, you can make the best decision for your home-buying journey.
Show Notes:
Attachments:First Time Home Buyers InformationMake Money Count 053 Transcript
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The best mortgage brokers in Toronto return! This week Marcus & Justin debate renting vs buying a home in this current market. With how much housing prices have declined and how much rental rates have risen, we have a question. Is it now cheaper to buy a property and build equity rather than paying all-time high rent prices? No matter the market, it is essential to examine these opportunities on a case by case basis. Have a listen to the episode to learn the math to help make the decision easier.
The Math The team looks at an example in downtown Toronto where the monthly rent is $3000 and the purchase price is listed at $489,000. After putting 5% down as a first time buyer; a 5 year fixed rate of 4.8%; $1,292 in property taxes; and maintenance fees of $329 a month: you arrive at a monthly average cost of $3,192 a month. This is not much more than the $3,000 rent and you build equity at the same time.
We also discuss the over-reactions of the central banks when it came to stimulating the economy during COVID. They are now over correcting it with rapid rate hikes. This is what has put real estate prices in a difficult position. They rose to unattainable levels and now are falling back to earth. This will have tough consequences for those who purchased at all time highs and now are servicing the debt at unaffordable levels. Only once inflation slows down will the central banks pause these rate hikes and then pivot in the other direction.
Whether you're new to the city or you've been here for years, this video is a must-watch! We'll be discussing the latest trends in the Toronto housing market, and giving you advice on how to make the most of your investment.
Make sure to watch to the end to find out which option is best for you!
0:00 - Intro 1:59 - Buy vs Rent example #1: 20 Joe Shuster Way 7:41 - How will the economics impacting the Buy vs Rent debate change in the foreseeable future? 14:32 - You have more to look forward to when buying if values are low and rates are high vs values being high and rates being low. 17:58 - You need to look at the Buy vs Rent decision on a case by case basis, but there are many attractive buying opportunities. 20:41 - Does Marcus own rental properties? The last 20 years has been an incredible bull run. 24:32 - Central Banks overshot way too far with stimulus and now they are overshooting way too far with rate hikes. 29:05 - Private Equity deals have dropped as well due to the increased cost of capital required to finance the purchases. Will that turn around soon?
Document: Buying Vs Renting In Toronto - Nov 2022
Transcript: Make Money Count 052 Transcript
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Toronto's best mortgage brokerage, Cannect Home Financing, returns with episode 051 of Make Money Count. This week, Marcus and Justin outline four reasons to buy a home during a recession. It may seem scary to take the completely opposite path of everyone else, but it can prove to be a great decision in the long run. Have a listen to this episode to hear these great reasons.
- The Math Over the last two years, interest rates have gone up drastically, which has made it much less affordable to buy real estate and service the debt on it. However, if the purchase price drops enough to counter this rate increase, you'll find that the math could balance it out. If you were willing to purchase a property when the 5-year fixed rate was 2.5%, how far does the price have to drop for you to still want to purchase when the 5-year fixed rate goes up to 5.5%?
Well, on a $500K mortgage, this extra 3% of interest is equal to $15K per year. Over the 5-year term, that is $75K, or 15% of the mortgage amount. This means that if you can purchase the property for 15% less than you were willing to pay for it a few years ago, it would negate the cost of the interest rate increase.
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Long-term success You make money when you buy something, not when you sell it. If you make a purchase when prices are lower, you are likely to set yourself up well for the future when others buy it from you. Over the long-term, property values trend upwards. So similarly to stock purchases, "buying on the dip" will set you up for success.
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You have your pick of the litter During a recession, the supply of housing available tends to exceed the demand. This means you don't have to settle for the wrong house because there aren't enough affordable options available. When supply exceeds demand, it means that there is more to choose from. Conversely, this leads to a lack of bidding wars and gets you much better price. No more buying a house next to the train station because it was the only affordable place you could find with a spacious backyard. During a recession, you'll be able to get that corner house you've always been dreaming of.
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The process is less stressful When the housing market is strong, it's actually a tough time to be a buyer. People line up to place offers on home, they sell in the blink of an eye, and they end up going way above asking price. During a recession, the tables turn. Agents are begging prospective buyers to check out an open house. The visits are on your schedule, not theirs. You can also take your time submitting an offer without fearing the home will be sold before you even leave the open house. If you can handle the stress of market uncertainty, the tradeoff will be much less stress in the home buying process.
It won't be easy to buy real estate in a recession, but was it easy to buy before the recession either? Buying a home has to be done when the time is right and a recession should not scare you away.
Episode Transcript: Make Money Count 051 Transcript - 4 Reasons To Buy A Home During A Recession
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It's the 50th episode of your favorite podcast Make Money Count! Toronto's best mortgage brokerage, Cannect Home Financing, outlines 5 ways you can make money during a recession. Investing during uncertain times can be scary, but when done properly and with the right research, there are still opportunities to make money. Always make sure you carefully evaluate the options and think about your specific goals and time horizon. Have a listen to the semi-centennial episode to hear them!
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Buy Good Stocks A lot of stocks have taken a beating over the last year, but some of these companies are still very profitable and will come out of this recession strong. Even some of the bigger names like Amazon and Meta are down over 50% from their all-time highs. This is one of the most fundamental rules of investing: buy low, sell high!
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Invest in Property If you can handle the increased carrying costs facing real estate investors today and have a long term time horizon, similarly to buying good stocks, this is a good time to buy that property you've been eying at a discounted price.
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Invest in Cannect MIC Cannect Mortgage Investment Corporation has been preparing for tough times like this since inception. We motivationally align borrowers and investors by lending to good borrowers at a conservative LTV that have a probable and reliable exit strategy from the loan. This has resulted in a consistent return for our investors over the last ten years.
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Short the Market Market prices and dividends have historically yielded a positive return, but if you own stocks, real estate, or other market-correlated assets, shorting the market using puts or other investment methods can act as a hedge for your overall market exposure. It is also just a good way to make bets on short-term market downturns.
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Start a Business A lot of it comes down to the idea, startup costs, and execution, but starting the foundations of a new business during a recession can allow it to thrive when the economy turns around again.
Marcus also goes into the importance of investing in yourself. Whether it is going to school or starting a business, a recession is a great time to make an investment in yourself. It's one that will always pay dividends.
As stated in the episode, Cannect is not a financial advisory firm and the topics discussed do not constitute financial advice.
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Toronto's best mortgage brokers return for another episode of Make Money Count. They discuss how certain factors like delinquencies and rental rates may assist in stabilizing values with increased interest rates. They then dive into how the Cannect Mortgage Investment Corporation (MIC) has been prepared for economic conditions like these for a while due to conservative loan-to-values and prioritization of exit strategies. Have a listen to learn more about the current state of our mortgage fund.
It's the tough times like these that show how prudently MICs have been lending. Many are currently unable to lend because their funds are tied up into deals with no exit strategy. When the only exit is default, it is very difficult for not only the borrower, but the lender too. When deciding which MIC to invest in, give them a call and ask the tough questions like how often do they stress test for LTVs; how do they arrive at property values for their loans? If these answers don't satisfy you, the cloudy days will be extra cloudy for these funds.
Past performance does not guarantee future results. Prospective investors should rely solely on the Fund’s Offering Memorandum, which outlines the risk factors in making a decision to invest. Cannect MIC shares are sold through our exempt market dealer, Meadowbank Asset Management Inc. Not CDIC insured.
Attachments:
Cannect MIC Investment Stats
Make Money Count 049 Transcript
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The best mortgage brokers in Canada, Cannect Home Financing returns with Make Money Count episode 048!
In this episode, we'll discuss the Bank of Canada's decision to raise interest rates again, and what this means for you as a consumer. We'll also discuss how you can make money count in the current economy by using smart financial planning strategies.
As a listener, you may be wondering what this means for the economy as a whole. The Bank of Canada has raised interest rates again, indicating that they are somewhat concerned about the inflation rate in Canada. This may mean higher prices for you as a consumer in the short term, but it also means that you should be aware of financial planning strategies that can help you make money count in the current economy.
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Toronto's best mortgage brokers, Cannect Home Financing, return for episode 47 of Make Money Count. In this episode we discuss the latest employment numbers in the U.S. and Canada. These strong numbers might be bad for the respective economies. If this sounds like it's backwards to you, don't worry you are not alone. Have a listen to the episode to get the breakdown from the experts.
We examine the historical rises of real residential property prices over time. The typical cause for the periods of strength has been cheap money. While we are definitely not seeing that right now. There are still many other solid macroeconomic trends that could keep the housing market afloat during these high interest rate times. Immigration, lack of supply, and yes, strong employment numbers could try to keep the market from falling further.
Questions from this episode involve seeking capital from alternative lenders and borrowing money to invest in real estate. Pricing from alternative lenders is starting to go up. Lenders are seeing what is going on in the economy right now and they are nervous, even with well-qualified borrowers. These are situations where borrowers should be calling Cannect to make sure, as Justin says, they don't put themselves in the box the banks create for them. When it comes to accessing equity to buy real estate, make sure you think about the type of real estate you are buying and your time horizon. With interest rates this high and still on the rise, this is more important now than ever.
If you're looking for a stable investment to get you through these economic hardships, take a look at the Cannect Mortgage Fund.
0:00 - Introduction 0:47 - What is the downside of a strong US job market right now? 3:22 - The Canadian job market is higher than expected as well. Inflation is still hot. 4:21 - The economy needs increased labour participation, and even unemployment, in order to reduce inflation. 8:51 - The trends of real residential property prices in Canada: the rises are from cheap money. 9:32 - There are still many favourable macroeconomic trends for Canadian real estate. 11:27 - Alternative lenders are starting to get stingy with pricing, even for well-qualified borrowers. 17:00 - Looking to buy real estate? Consider the type of real estate you are buying and the time horizon. 21:36 - No matter how high mortgage rates get, taking equity out of your home to pay down credit card debt will save you money and help your credit rating.
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Toronto's best mortgage brokers, Cannect Home Financing, return with Make Money Count. We explain what an Inverted Bond Yield Curve is, and why the US Dollar is rising as we head into a recession.
Marcus Tzaferis and Justin Turner take the listeners through a few positive economic indicators. According to an article on Barron's, we may be seeing a peak in bond yields and the US dollar index. If this is the case, it could be a precursor to a rally for US markets. Why is this?
Listen to the episode to find out! This cautious optimism entirely depends on inflation and the direction central bankers take. To show how quickly times have changed, the United Nations advised central banks around the world to pause rate hikes. This isn't unprecedented, but it is very rare. People are already feeling the impact of these rate hikes and for some countries this means hardship. As a result, for developing nations, it means people can't put food on the table.
Your favourite brokers also answer some questions regarding home equity loans during these times of high interest rates. If you are looking to access equity, you need to carefully weigh the market uncertainty. First, weigh the premiums that come with it against the possibility of equity erosion if you wait too long. Second, borrowing to invest also needs to be done carefully right now. Given how high rates are right now, you need to be very confident.
The value and growth potential of the investment needs to justify the cost of borrowing. Similarly, some equities are at huge discounts right now. However, these opportunities still need to be evaluated carefully.
If you're looking for a stable investment to get you through these economic hardships, take a look at the Cannect Mortgage Fund.
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Toronto's best mortgage brokers, Cannect Home Financing, return with Make Money Count. We explain what an Inverted Bond Yield is, and why the US Dollar is rising as we head into a recession. Yet, we're happy to say it looks like we are seeing some optimism in the U.S. Markets!
Marcus Tzaferis and Justin Turner take the listeners through a few positive economic indicators. According to an article on Barron's, we may be seeing a peak in bond yields and the US dollar index. If this is the case, it could be a precursor to a rally for US markets. Why is this?
Listen to the episode to find out! This cautious optimism entirely depends on inflation and the direction central bankers take. To show how quickly times have changed, the United Nations advised central banks around the world to pause rate hikes. This isn't unprecedented, but it is very rare. People are already feeling the impact of these rate hikes and for some countries this means hardship. As a result, for developing nations, it means people can't put food on the table.
Your favourite brokers also answer some questions regarding home equity loans during these times of high interest rates. If you are looking to access equity, you need to carefully weigh the market uncertainty. First, weigh the premiums that come with it against the possibility of equity erosion if you wait too long. Second, borrowing to invest also needs to be done carefully right now. Given how high rates are right now, you need to be very confident.
The value and growth potential of the investment needs to justify the cost of borrowing. Similarly, some equities are at huge discounts right now. However, these opportunities still need to be evaluated carefully.
If you're looking for a stable investment to get you through these economic hardships, take a look at the Cannect Mortgage Fund.
0:00 - Introduction 1:59 - Leading indicators say the U.S. Markets might be starting to recover. 4:12 - Justin’s trip to BC: things are expensive there. 6:59 - Barron’s article: 2-year bond yield and the US dollar index plateauing are positive leading indicators for the U.S. Markets. 13:42 - The market acts as a psychological barometer for people. 17:26 - Cannect only aims to provide an unbiased view of the real estate market, as illustrated from a clip a year ago. 19:59 - Marcus is doing “Sober October”. 23:30 - In Canada, you can get a mortgage with term lengths from 1 year to 15 years. This is important to remember if you are coming out of a cheap 5-year fixed rate in the next few years. 28:41 - The United Nations advised the central banks around the world to pause rate hikes. 30:56 - A home equity loan is likely the solution for a borrower looking to access equity, but has lost their job. 34:02 - Borrowers looking at 2nd mortgages need to weigh the market uncertainty and premiums that come with it against the possibility of equity erosion if they wait too long. 37:02 - If you are borrowing to invest right now, make sure you are extremely confident in the capital gain potential of the investment you are making.
MakeMoneyCount #Cannect #CannectHomeFinancing
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Toronto's best mortgage brokers, Cannect Home Financing, returns with episode 45 of Make Money Count. In this episode, we break down a viewer question, and then explain how to get a mortgage as a self employed home buyer.
Every person has their own unique situation. It's important to find a mortgage broker that can look at exactly how you earn your money, and get you qualified for a mortgage. They will see how you can verify your income. The broker will see how much equity you have in your home. And they find the situation-specific factors which get the best borrowing options for you. In the end, it always comes down to reducing your weighted-average cost of capital (WACC), and lowering the cost of your debts.
Marcus and Justin also answer a listener's question about what the main reasons for Canada's inflation are. Are they carbon tax implementations or record-high imigration? Unlikely. The carbon tax and cancellation of the Keystone XL pipeline were not enough to bring on global inflation on their own. Immigration will contribute in a positive way in Canada because it brings more workers into our economy and that will fight the recession. The reasons for inflation are much more global than they are domestic. Inflation is a global issue, not specific to Canada.
Why do I need a mortgage broker? If you have gone to different mortgage lenders in the past and they have all said no, you need to speak with a mortgage professional. Someone who has your best interests in mind and knows how to navigate this new high interest rate environment. They will answer questions like: Is the best course of action a refinance? What's the difference between A HELOC from a B-lender, and private 2nd mortgage? And how do I include more income on my application?
We dive into this and more. Have a listen to the episode to find out how to navigate the self-employed mortgage market.
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Toronto's best mortgage broker, Cannect Home Financing, returns with Canada's best Mortgage Podcast, Make Money Count. In this episode Marcus and Justin discuss the contrast of inflation vs. deflation. Is this a cycle going on for the last 100 years? How will this effect Canada's housing market?
Marcus and Justin also discuss the type of Government and Central Bank responses are used for different phases of the economic cycle. They examine the idea of the economy just needing a "catalyst" over the last few years, like a pandemic or a war, to bring the economy into troubling times. Have a listen to get the big picture.
- Investors no longer believe we will have a "soft landing". First, we were told that with all the money the federal government was handing out, inflation wasn't going to be a problem. Later that changed to it only being a slight problem. A transitory result of global supply chain issues. Then the central bankers said inflation is a real concern, but it can be addressed and corrected without putting the economy into a recession. Today they don't even believe that to be the case, and investors are responding.
Big business leaders like Elon Musk and Cathie Wood have stated that rates should be reduced again in order to prevent the economy going into a recession. It is clear that the longer these rate hikes continue, the worse our recession will be, and deflationary times.
- The Cannect Mortgage Investment Corporation is in a strong position to lend money. The health and security of a Mortgage Investment Corporation (MIC) completely depends on the quality of deals it contains. A lot of other MICs are currently in a tough position to lend more now. Cannect did an effective job at lending with caution and on a reduced scale. We were in a good position to lend now with reduced home values and increased interest rates.
Unfortunately, Home values will likely continue to drop and interest rates continue to rise. However, we feel more confident in the deals we fund today knowing that those home values have taken a beating. A lot of other lenders will be unable to lend with cash tied up. This will bring high-quality deals to Cannect's door step.
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Toronto's best mortgage broker, Cannect Home Financing, returns with another episode of Make Money Count.
Marcus Tzaferis joins Justin Turner from Greece for one last episode before the big announcement. Taking place Sept 7th, the expectation is that the Bank of Canada will increase the overnight rate. An expectation of 75 basis points, and likely another 50 basis points before the end of 2022. What does this mean, and how do Canadians prepare for this?
Episode Takeaways:
Jerome Powell, the Chair of the US Federal Reserve, spoke at the Jackson Hole meeting and his words didn't spark too much optimism of how soon the rate hikes will stop.
On September 2nd, the US August jobs report came out and a lot more was riding on it than people may think. As backwards as this sounds, a bad jobs report likely would have meant a bit of a jump in stock prices because the public perception would be that with this extra sign of economic weakening, the US Federal Reserve would have to slow down the rate hikes.
Right now, inflation, and therefore interest rates, are the overwhelming driving forces of the markets.
Marcus also uses the SPY ETF to discuss his current market sentiment and how investors can use options to enter the broad equities market and invest in the direction they think it is headed. (This does not constitute financial advice).
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We have a special guest on this episode of Make Money Count! Gene McBurney, co-founder of GMP Capital Inc, has been good friends with Marcus for 15 years now. In this special episode, Marcus and Gene discuss important topics such as Russia's invasion of the Ukraine, energy policy around the world, and how those macroeconomic topics impact the entire financial services industry.
This is an intimate and casual conversation where the two men share their love for wine, good conversation, and each other's company.
Marcus Tzaferis founded Cannect to help homeowners borrow for less, and now Cannect Inc. is a top GTA mortgage brokerage. After stepping away from GMP in 2020, Gene McBurney now runs Investment Banking in Latin America & the Caribbean for Canaccord Genuity. Prior to his career in the financial industry, Gene was also a partner at a leading Canadian law firm. The two of them together have almost 50 years of experience in the financial services industry. Click here to connect the the best mortgage brokers in Canada, Cannect Home Financing.
Click here to invest in the Cannect Mortgage Investment Corporation.
0:00 - Marcus introduces Gene McBurney
2:54 - Running GMP: the rise and the demise
7:15 - In the finance industry, you need relationships with people who will pay you fees.
12:55 - Discussing Russia’s invasion of Ukraine and the support NATO has provided.
18:53 - Will spending excess money to end this war be the right answer? Putin has already proven he can pivot effectively.
25:31 - How geopolitical tensions are impacting energy policy in the US and worldwide.
36:11 - Can altering energy policy help us avoid a recession?
41:36 - Gene’s preference for business will always be financial services, but admits that it’s tough to compete with the banks.
Over the last few weeks, we learned that inflation numbers in the US dropped a bit. The market had its rally and bond prices dipped, but are we out of the woods yet? Banks’ fixed rates are still high and we have inverted yield curves. Have a listen to this episode to learn what this means for the short and long-term future of the economy.
3 key takeaways from this episode are:
- Through good times or bad, banks keep their shareholders in mind.
This is their obligation, so don’t take it personally. Even though bond yields have declined, banks still have high fixed rates. They can justify it by saying the added amount is to ensure protection against market instability, but it’s still extra profit when those earnings reports come out. People who work at banks also don’t have to have mortgage training. That’s another cost the banks will save because they can. What should consumers do with this information? Don’t do all your business with one bank and use a mortgage broker to get you the best rate. By going to other institutions, you are showing your bank that you are knowledgeable about the other options out there. They want to optimize earnings, but they don’t want to lose you. And by going to a mortgage broker, you are getting a trained professional IN THAT FIELD who will work to get you the best product for you.
- The best way to make money in the market is to deploy capital when prices are low and others are fearful.
Investors make money when they buy at good prices. There is no way of knowing when assets are at good buying points, but the economy tends to swing on a pendulum that favours the positive side. If you have a long-term time horizon, you should consider buying assets anytime the economy swings down because in the long run, you’ll make money when the pendulum swings again. This may not apply to all assets and all economic situations, but it is worth considering if you ever had your eye on an asset and you see it discounted due to tough conditions.
- The markets may have rallied, but there might be a lower bottom in this cycle.
The news of inflation leveling off in the US is good, but there are way more variables at play for the long-term health of our economy. We currently have inverted yield curves, which means the return on a bond declines as the term gets longer. The implication of this is that once a bond of shorter duration matures, investors are pricing in the idea that proceeds will be reinvested in a time of reduced rates and tougher circumstances, hereby leading to a bond of longer duration from the beginning having a reduced rate today. The last time we saw inverted yield curves was 2008 and they have historically told us that a recession is incoming. Even if inflation does level off, the overnight rate stabilizes or drops, and asset prices start to climb, there is still the fear that if the Bank of Canada drops the rate too quickly that inflation could head back up again. This is something they’d really want to avoid.
Marcus Tzaferis and the Cannect Team
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0:00 - Intro 1:10 - It’s a bad time to take fixed rate mortgages with bond yields dropping. 6:30 – It is not wise to do all your business with one bank, according to the Bank of Canada. 9:29 – Monoline lenders are very helpful for our economy but were hurt when the BoC instituted a rule change impacting their ability to get portfolio insurance. 13:18 – You don’t make money when you sell something, you make it when you buy. 15:56 – How to make money in the market: Deploy capital with asset values discounted. Monitor market fear and greed. 24:37 – The markets rallied with the expectation of inflation decreasing, but we may not have settled into a bottom just yet. 26:13 – We currently have inverted yield curves, which tends to indicate a recession is near. 30:51 – A lot of Canada’s wealth is in Real Estate, so drops in values hit the economy hard. 34:57 – Where is the economy likely headed over the next year? 40:20 – Are other mortgage brokers struggling in this environment? 45:35 – Another reason to use a broker? People who work at banks are exempt from having mortgage training. 50:24 – Wrapping up the episode.
Inflation is hitting us hard, and interest rates are on a non stop ascent. But what other numbers can we use to examine the current economic landscape? How will these metrics impact the Canadian consumer in the short-term?
This week's episode takes a thorough look at important metrics like bond yields and the sales to listings ratio. Marcus and Justin discuss what these metrics can tell us about the future of our economy.
The first part of the episode outlines how bond prices move. As the Bank of Canada overnight rate continues to see hikes, yields of newly issued bonds go up as well. What does that mean for bonds that have already been issued at a fixed rate and currently trade on the open market? They drop in price because that's the only way investors will buy them instead of the newly issued ones at higher rates. When the stock market faces uncertainty, the bond market is where investors flock, but it is tough to time these purchases in a market where rates are still on the rise.
The episode also compares the average home price in Ontario with the sales to listings ratio. Over the last 4 months, we are seeing fewer homes being sold relative to how many homes are listed for sale. As the inventory available on the market goes up, it puts additional downward pressure on home prices as sellers meet the prices buyers are willing to pay. And this is exactly what we have seen starting in March and April with an increased inventory leading to declines in the average home price. If you are watching the video version of this episode, you can see these exact numbers.
Marcus Tzaferis and Cannect Team
0:00 - Intro 1:10 - Central Banks are taking action to ensure inflation doesn’t become entrenched in our economy. 4:09 - How the bond market works. 7:27 - The role of inflation in the bond market. 12:34 - Have 5-year fixed rates hit their peak? 14:22 - Examining the decline in home prices and comparing home sales to home listings. 18:04 - We can expect more downward pressure and declines in transactions for the rest of 2022. 21:20 - What else will these rate hikes and value declines lead to? 28:06 - What is a global economic reset? 33:26 - Ways to approach a recession: monitor spending, buy assets at good value. 37:57 - Costs of services affected by the shutdown in particular have skyrocketed. 42:31 - There is nothing on the current horizon to turn around the economy.
#Cannect #MakeMoneyCount #InterestRates #Inflation #Finance #Investing #WealthManagement #MortgageBroker #podcast #Recession
It’s the 40th episode of a little mortgage podcast called Make Money Count. Boy is it a big one!
Inflation has been ridiculously high. It was reported yesterday that the US annual inflation rate hit 9.1%. It isn’t too far behind that in Canada. This rate hike is an extreme measure. It’s the Bank of Canada’s way of showing that fighting inflation is the #1 priority. Have a listen to this informative episode to learn about how we got here and what this means for Canadians going forward!
Looking back on the last 2 and half years, it has been a murky timeline. The next two years may prove to be more of the same. The past 2 years: We prioritized short-term stimulus over long-term economic health. When COVID hit, Canada, the US, and many other countries decided that the best measure was to give everyone a ton of money to stimulate the economy. Was this the right move? Well, for the politicians focusing on getting re-elected, it definitely was. Now with all of this money pumped into the economy, we are seeing costs skyrocket and a recession looming. COVID may have been an emergency, never-before-seen situation. However, it is now very clear that a more strategic and conservative approach to aiding the economy at the time should have been taken. The next 2 years: High interest rates likely leading to a drop in real estate prices. Hopefully inflation has hit a peak, but it will likely take a few more half-point hikes to actually turn it around. Even with these actions, it is clear Government officials are taking it a step further. Over the last several years, Canada and the US have really wanted to emphasize the transition to renewable energy sources. Now Joe Biden travelled to Saudi Arabia to meet with the PM. Increasing oil production is expected to be a topic of discussion. 18 months ago, taking this trip was unlikely to be on his radar. A lot of our clients that are renewing are considering a 2-year term for their next mortgage with the hope that rates start to come back down in the back half of 2023. With the appropriate rate hikes, we could absolutely see this happening. Meanwhile if you are in a position where you need access to home equity, this could very well be the last chance to maximize the value of your property on a refinance. Whether it is through a full refinance or a home equity loan, the staff at Cannect are ready to help you. Marcus Tzaferis and the Cannect Team Click here to connect the the best mortgage brokers in Canada, Cannect Home Financing.
Click here to invest in the Cannect Mortgage Investment Corporation.
0:00 - Intro 0:33 - The Bank of Canada increases the overnight lending rate by 1%. It now sits at 2.5%. 4:31 - Are markets losing confidence in the Central Banks? 8:50 - To get re-elected, Government officials may prioritize short-term economic stimulus over long-term economic health. 13:38 - Still taking variable rate over fixed? What term length? 18:18 - When the prime rate increases, the variable rate mortgage payment stays constant, but more of the payment goes towards interest vs principal. 22:32 - The US is finding they need to increase oil output, despite wanting to emphasize renewable energy for the last several years. 27:00 - These interest rate hikes will shock the market, when do they come back down? 30:22 - Are we underestimating the impact of a massive drop in the housing market? 32:05 - Greece would handle recessions by giving jobs to everyone. This had consequences. 34:44 - Is a 2-year term a good option in this economic landscape?
In this episode, Marcus hits the air remotely from Greece. The guys discuss how inflation and the interest rate environment are going to impact mortgage lenders and their lending policies towards Canadian borrowers. Last week we all heard that inflation in Canada hit 7.7%. It’s impact on the economy is everywhere; at the pump, the grocery store, and at restaurants. How is it impacting Canadian Lenders and how will it impact your next mortgage? What changes might we see going forward and what can you do to prepare?
Some key takeaways include:
First, lenders are concerned just like the rest of us. After the 2008 crisis, the maximum Loan to Value Canadians can borrrow against their property was dropped from 95% to 80%. When the economy struggles or faces uncertainty, changes are usually made. We have not seen anything drastic yet, but if we continue down this current path, changes can't be ruled out. A & B lenders tightening their HELOC requirements would not come as a huge surprise. We are already seeing some 2nd mortgage lenders not offer renewals to existing clients, which means that either they are not receiving payouts at their usual rate or they are now reconsidering a former qualified borrower's credentials for this economic environment. Neither of these are great signs.
Second, are we sure the BoC and Federal Reserve are completely independent of their respective Governments? When Trump was in Power, he told Jerome Powell not to increase interest rates; Powell listened. The chair of the Federal Reserve is appointed by the President and the Governor of the Bank of Canada is appointed by the Prime Minister. Why would they bite the hands that feed them? Our Country leaders have the same agendas too; to stay in power.
Trump wanted to keep the economy as strong as it could be leading up to his next election. As a result of these actions, a recession that was already looming pre-pandemic has just been delayed and maybe made worse. It's tough to have a Central Bank that is closely tied to its Country's Government that is always thinking about re-election.
Click here to connect the the best mortgage brokers in Canada, Cannect Home Financing.
Click here to invest in the Cannect Mortgage Investment Corporation.
0:00 - Intro 1:15 - What does inflation of 7.7% mean to the average consumer? 5:37 - Inflation is currently scarier than a recession. 9:39 - A recession would create an opportunity for first time home buyers to enter the market, but will make it trickier to access home equity. 17:23 - Through the economic uncertainty, Cannect MIC returns have remained steady. 18:37 - This is a tough time to lock in to a 5-year fixed rate. 20:51 - Email question about accessing home equity without breaking the first mortgage. 25:17 - How banks might alter their lending amid this economic uncertainty. 30:48 - Cannect MIC has always been ready for real estate prices drops. 32:13 - 2nd mortgage lenders may not all be able to offer renewals now. 35:31 - Marcus’ laundry tips from Greece. 38:12 - Email question about banks changing lending policies. 44:49 - Are the Bank of Canada and Federal Reserve maybe too influenced by their respective federal Governments? 49:58 - The economy was already not looking great pre-pandemic.
Inflation #InterestRates #Economics
How’s the current economic outlook? Pretty bleak. Interest rates are rising, inflation is still sky-high, and asset prices have taken a nose-dive. We may be approaching the peak of economic uncertainty, or maybe that’s just the optimism from summer beginning! Have a listen to the episode to get a more in-depth view from the Mortgage Broker Team at Cannect Home Financing.
A few key takeaways:
The rapid rise in interest rates is changing the way qualified Canadians borrow money.
We discussed in the previous episode how and why there could be a take off in the home equity loan market with interest rates rising. Therefore, we look at how will this impact private lenders though. Even with the potential for a drop in real estate prices, this could prove to be a tailwind for the risk level of private home equity loans. Cannect prides itself in helping home owners with ample home equity repair their covanent and get to lower cost capital. But if more loans are given to borrowers that have no covenant to repair, then the overall risk profile of these loans will drop. The real estate market may look uncertain, but this could be a very strong silver lining.
Cannect isn’t a small company, it’s just “folksy”
You’ll have to listen to get a better breakdown, but the essence of this statement is that Cannect is not a large institution like a bank. We are a company of regular people that are just like our borrowers. We’ve grown slowly, we take pride in being direct-to-borrower and direct-to-investor. We love being able to regularly communicate with our borrowers and investors like we are doing right now. The fact that we are this way is just one of the reasons why we feel very confident going into difficult economic times.
Marcus Tzaferis and the Cannect Team
Click here to connect the the best mortgage brokers in Canada, Cannect Home Financing.
Click here to invest in the Cannect Mortgage Investment Corporation.
0:00 - Intro 0:45 - The market is responding to the cost of money increasing. 3:15 - Have living costs hit their peak? 6:05 - If Marcus could travel back in time, what would he do? 8:50 - Marcus thinks we could see a pause in the rapid interest rate hikes if they continue to take place this quickly. 11:06 - This interest rate environment creates an attractive opportunity for mortgage funds like Cannect. 15:13 - Email question from a borrower looking to access home equity. 20:33 - The Cannect BBQ recap. 22:03 - Email question from a borrower wondering if now is the right time to lock in to a fixed rate. 26:28 - More BBQ highlights. 29:24 - No matter the size of Cannect, staying direct to the borrow and direct to the investor continues to be the priority. 35:00 - Cannect’s slow growth is why we feel as confident as we do going through economic uncertainty.
This episode examines the current economic outlook, and it is not too pretty. High inflation is the problem the Bank of Canada is prioritizing, which is why interest rates are rising, which is why stock prices are falling and home ownership is more expensive. What is the next domino to fall? Maybe housing prices? Have a listen to learn more!
Some key takeaways to consider:
- Refinance your unsecured debt while home prices are high.
If real estate values fall, this will reduce the amount you can borrow against it and reduce the amount of unsecured credit you can wipe off your bureau. So act soon if you are in this position.
- What might this lead to? A take off in the home equity loan market!
A lot of people took advantage of rock bottom interest rates two years ago and refinanced their debt. If qualified borrowers need more money now, they may find it is in their best interest to just take a second mortgage at a higher interest rate than refinance the whole mortgage to access more equity at today's 5-year fixed or variable rate. If you are a qualified borrower and need to access more funds, speak to a Cannect agent to see whether a second mortgage or a complete refinance is your best path to long-term savings.
- "Don't fight the Fed"
With the Bank of Canada's priority being to bring down inflation, rates should continue to rise and asset prices should continue to fall. If they fall so much that the BoC has to shift their priorities, their actions will reflect this change. Interest rates may drop back down again and, subsequently, asset prices would rise back up. The BoC has fires to put out, and the way they decide to do it will shape the economy for the foreseeable future.
Click here to connect the the best mortgage brokers in Canada, Cannect Home Financing.
Click here to invest in the Cannect Mortgage Investment Corporation.
Marcus Tzaferis and the Cannect Team
Inflation #MortgageBroker #MakeMoneyCount
This week's episode takes a deeper dive into the Russia/Ukraine crisis and what it might lead to in this current economy. As we discussed last week, there are a lot of macroeconomic trends taking effect right now even without this crisis including inflation, increasing interest rates, surging oil prices, and more. If this crisis continues, how will it impact these current trends we are seeing? Have a listen to the episode to find out.
The Bank of Canada is meeting next on April 13th. Not only will any rate changes resulting from that meeting be important, but so will the way it gets communicated to us. We will see who wins the $50 bet. Matt says no change, Marcus says 25 bps, and Justin says 50 bps.
0:00 - Intro 2:00 - Ukraine and Russia and Economic Strategies 6:15 - Accommodating central banking policies 7:00 - Ground level effects & What the average consumer is worried about 8:00 - The math behind taking a variable rate mortgage 10:00 - Interest rate hikes & Monetary policy 11:40 - Inflation & Volatility in the market 15:30 - What to expect with your variable rate 17:50 - The housing market & Canada's economy 20:15 - What Cannect customers want to know 25:45 - Re-stabilizing the economy 32:55 - Where do we go when the nukes fall? 36:00 - Do policies against Russian Oligarchs have any effect? 40:00 - Energy Policy affecting our Asset Security
This week's episode is all about how the economy maintains good order and balance. On Wednesday, the Bank of Canada increased the overnight rate from 0.25% to 0.50%, the first rate increase since 2018. How does this impact inflation? How does it impact the Canadian people? Have a listen to the episode to find out!
Here is what you can take away from this episode:
- Will this rate hike solve our inflation problems? Probably not.
When interest rates increase, the impact that has on an economy isn't realized for 12 - 18 months. Consumers were so tight for cash during COVID though, and many of them still are, that this was not a possibility last year. The Bank of Canada will spend the next few years hiking interest rates at a steady clip to see where the proper balance is of fighting inflation fears vs. those of a bear market.
- Energy policy has a huge effect on foreign policy.
Energy is a valuable resource. Every country has a vested interest in it's cost and accessibility. Some countries are mass producers of energy, while others rely on importing it to keep their economy afloat. When inflation leads to a skyrocketing cost of energy, countries pay attention.
- We STILL love the variable rate.
The fixed rate has been pumped up by talks of 6, maybe even 8 interest rate hikes in 2022, so if the year continues and we find we aren't on pace to reach those marks, the fixed rate should come back down a bit. The variable rate is still at such a huge discount to prime, so we feel that if you are okay with taking a bit of risk, the variable rate looks really good.
0:00 - Intro 1:18 - Marcus’ shirt 4:03 - Bank of Canada increased interest rates this week by 25 bps, the Federal Reserve in the US may do so shortly. 6:02 - Is inflation a result of shipping companies increasing costs during Covid? 8:23 - Increasing the overnight rate won’t help fight our rapidly increasing costs, only takes more out of people’s wallets. 10:37 - Energy policy affects foreign policy and how countries behave. 13:28 - Relying heavily on the wrong countries for resources can lead to instability in the world. 15:45 - A caller asks whether the prime rate hike will help to slow down inflation. 17:45 - Interest rate hikes will have a psychological impact on inflation and it gives the Bank of Canada ammunition if we enter a bear market. 20:22 - Housing prices are still being heavily impacted by the lack of supply available. 22:28 - The variable rate is still attractive. There may be downward pressure for fixed rates in the future as well. 24:29 - Justin has another interest rate metaphor for Marcus’ shirt.
This week's episode examines the current geopolitical situations Canadians have been exposed to and how they may have an impact on mortgage rates. These events may have a huge impact, a marginal impact, or even no impact at all. Regardless of which you think it will be, these are the times Canadians should be re-evaluating their mortgage. You want to make sure the mortgage you currently have accurately reflects where you think interest rates will be going. Have a listen to the episode to get a better breakdown.
If you re-evaluate your mortgage and decide a change is necessary, give Cannect a call. We can get you locked into a fixed rate now if you are concerned several rate hikes are on the horizon. Or if you don't think rates are going anywhere for a while and you currently have a variable rate, we might be able to get you a larger discount on prime than you currently have. Maybe you don't want to think about your mortgage at all, in which case give us a call and we can evaluate it for you.
0:00 - Intro 3:56 - How will the trucker protests impact mortgage rates? 6:24 - How will the Russia-Ukraine situation impact rates? 9:24 - When there are shifts in the geopolitical landscape like these, it’s a great time to re-evaluate your mortgage. 14:07 - Clip of Marcus from 11 years ago discussing how the unrest in Libya was impacting oil prices. 17:13 - The success of Cannect’s investment fund comes from the borrowers. 22:05 - Feedback from a client on how thankful she was for her experience with Cannect. 25:23 - Regardless whether you think borrowing will be easier or more difficult in the future, there are good options for you right now.
New Make Money Count episode! It has been a while, but with all the talks of inflation and rising interest rates, we had to hop on to give our two cents. Inflation may seem scary, but as you'll hear in the episode, we don't believe the actions taken by the Bank of Canada will be as drastic as the markets may be pricing in because:
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The average consumer debt right now is high, and each rate hike will have a pronounced impact on that debt.
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There's been a lot of inflation recently, but a lot of that pressure is believed to be a result of supply chain issues that won't be fixed by an increase in interest rates.
This is why we still believe the variable rate is a great option. And whenever that time comes that you want to lock in, call Cannect before going to your bank. Through one of the several mortgage finance companies we work with, we can get you a fixed rate with more favourable breaking costs. Remember, 70% of mortgages are broken before the end of their term.
Don't forget to follow us on makemoneycount.com!
Show notes: 1:55 - Marcus predicted the bank rate hikes were media-driven over the last few months.
3:18 - Why Marcus thinks inflation issues might be exaggerated.
6:35 - Interest rates will go up. Where are they now?
8:34 - Media outlets and big brokers all thought we would see an overnight rate hike in January.
13:12 - Marcus still thinks the discount on the current variable rate is too good to pass up.
16:43 - Calling Cannect is the best way to determine the best course of action for your mortgage.
19:19 - The mortgage finance companies are setting the market for rates and banks decide when they want to compete.
21:00 - People are still in need of funds as a result of Covid
26:29 - Follow us at makemoneycount.com!
This week's episode was an information-packed one about the current state of our economy. All we hear about on TV are interest rates and inflation. People also look to the bond market to get an idea of where interest rates are going, but does this always paint the entire picture? Have a listen to the episode to get the full story!
Interest rates may be on the way up, but if the Bank of Canada raises them too fast, they could have even more problems to deal with. So until the variable rate continues to close the gap between it and the fixed rate, we still see it as the more attractive option. And remember, Cannect can lock you into a fixed rate in the blink of an eye when the time comes.
Happy Holidays from all of us here at Cannect!
0:00 - Intro 1:43 - Theme of the episode: What the bond market and Canadian Banks are telling us about interest rates 3:07 - Background Info: Bond yields, interest and mortgage rates. 6:01 - The overnight rate: "The rate to end all rates" 9:14 - The BoC still sees inflation as transitory 11:46 - Marcus does not see interest rates increasing as quickly as the bond market is predicting due to it being too costly to make a mistake. 13:22 - The 2 ways money has been pumped into the market: Monetary and Fiscal Policy. 15:39 - If we increase interest rates too quickly now, we'll have to spend even more money than we already have to continue fixing our economy. 18:22 - Inflation is largely coming from parts of supply chains attempting to increase their own profitability. 19:46 - A central bank can affect the economy just by talking. 21:26 - Where does Marcus see interest rates going? 28:13 - Why a repeat of the 80s is very unlikely. 32:47 - The BoC and the bond market are taking different positions when it comes to inflation. 36:06 - Marcus predicts you'll be able to get a 5-year fixed rate within the next 3 months than what is on the market today
This week's episode is all about how to get the most out of Cannect. Whether you are looking to renew, refinance, make a purchase, take out a home equity loan, or make an investment, Cannect has salaried employees readily available to help you make these decisions. In fact, some of these employees shared their most frequently-asked questions on the show with us today. Have a listen to hear what those questions are.
The entire team at Cannect's top priority is simple: to get you into the lowest cost capital. Don't worry about whether or not you qualify, that's our job. Speak to one of our salaried representatives today to make sure you are in the best possible financial position you can be in.
Marcus Tzaferis and the Cannect Team
0:00 - Intro 2:45 - Justin introduces the theme of this week’s episode.
3:55 - Where do you start when you want to buy your first property?
10:52 - if you want to take a variable rate mortgage, how does one know when to lock in to a faxed rate?
14:40 - What rates can Cannect offer? Is this the only question one should be asking?
19:21 - Banks are incentivized to sell clients higher rates.
21:27 - How long does the mortgage process take?
23:01 - Looking to draw equity to invest? We have something to suggest!
26:17- How Cannect makes document collecting easy.
29:49 - Cannect’s job is to make you qualify.
33:15 - Ways Cannect will make your life better.
35:35 - Even after closing a deal, Cannect continues to work for the borrower.
36:40 - Why Cannect is a unique investment opportunity.
This week's episode examined Cannect from the investor's point of view. If you have heard us discuss our investment fund before and maybe wanted to learn a bit more about the advantages it can provide for you, then this is a great episode to have a listen to.
A point that we brought up on the episode a few times that we always like to reiterate is that know one will ever be more confident in Cannect as an investment than we will. Our directors are investors, our staff are investors, and the friends and family of our staff are investors. We always want our investors to feel like partners rather than investors. If you have any questions about the fund after hearing the episode, don't hesitate to give us a call. We'd love to speak to you!
Marcus Tzaferis and the Cannect Team
0:00 - Intro 00:30 - Risk 1:10 - Investing with Cannect 6:15 - From Borrower to Investor 8:00 - Finding someone you trust 8:45 - What to do with the equity in your home 13:30 - Win a Keg Gift Card 14:15 - Your options with Cannect 17:30 - Nick talks about why you should invest in Cannect 19:15 - Minimizing Risk 22:00 - Making investing less intimidating 23:50 - The importance of our Diverse portfolio 26:10 - Slow N Steady 29:50 - Steady Income after retirement with Investments 33:00 - Matching Motivation Spelling Success
In this episode of Make Money Count Justin and Marcus talk about CLOWN blow up dolls, oh yeah and they also discuss how to secure the best mortgage rate for your situation. Marcus goes over the different types of rates and how they apply to different types of borrowers. The best mortgage now and forever and what that means for you, how Cannect can secure you the best mortgage for your situation and how that mortgage will be a solution not only just for now but forever.
Justin discusses products for people that are self employed and how to qualify with your cash income. Wrapping up, Marcus and Justin talk about what it means when your bank says they have no options for you and what they actually mean (come to us!).
0:00 Intro 4:50 People's typical idea of a mortgage broker 6:40 How to get the best mortgage rate 7:30 The different types of mortgage rates are discussed 9:00 How to get the best information regarding interest rates for your situation 10:15 Discussing HomeOwners Insurance 12:00 The best mortgage Now and Forever 14:27 Variable Mortgage Rates and when to Lock in 16:20 Products for people that are Self employed 17:15 HomeTrust and Fully Closed mortgages 17:50 Justin Holds really intense eye contact with the camera 18:50 Lenders looking for Equity 20:55 First time home buyers with minimal declared income and high down payment 22:20 The 3 big things that lenders want to see 23:25 How to use your cash income to qualify for your mortgage 24:10 Alternative/B lender interest rates 26:40 When the bank says they have no options for you 29:00 We hate unsecured lines of Credit 30:30 Banks and collateralized mortgage charges 31:44 Reverse Mortgages
This week's episode takes a deeper dive into Cannect MIC. Specifically, it goes into how Cannect generates returns for investors, how it mitigates the risks involved, and how it maintains motivational alignment between the borrowers and the investors. Have a listen to get the details.
If you were looking for more mortgage-focused information this week, go check out MakeMoneyCount.com to see previous episodes that are more centered on what you are looking to learn about. Or find Cannect on the social media platform of your choice.
0:00 - Intro
4:27 - Introduction to Cannect MIC
6:00 - Cannect MIC differs from its peers because it is direct to its borrowers and direct to its investors.
7:56 - Cannect MIC has $2M subordinated behind the rest of the fund, so Cannect takes losses up to $2M before the rest of the investors.
10:45 - Marcus explains to a caller how Cannect generates its returns and mitigates risk.
14:01 - Matthew goes over a real example of how Cannect generated returns by helping a borrower get to lower cost capital.
16:50 - Credit is say easier to fix than people think.
19:18 - Marcus explains to a caller why the investment minimum is $2500 and the lockup period.
25:26 - Cannect keeps investors informed and engaged through its investor portal.
28:14 - Check out MakeMoneyCount.com to find old episodes and links to our social media.
29:46 - Matthew explains how millennials are looking to get more involved with their own investment decisions.
32:25 - Marcus explains what he found to be missing pieces in the mortgage industry and how he aimed to solve them throughout his time in the industry.
This week's episode explored the impact of monetary policy on current interest rates, and inflation levels. According to the Atlanta Federal Reserve, quantitative easing over the last few years had a negative 2% impact on interest rates. What does this mean for you? Now that it may be slowing down, does this mean it's officially time to lock in to a fixed rate mortgage? Have a listen to the episode to find out!
0:00 - Intro 0:52 - Even just speaking is a form of monetary policy for the Bank of Canada. 3:50 - The impact of quantitative easing on interest rates and what removing it will do. 5:14 - Are these inflation levels temporary? 7:36 - Justin explains why there may not be much time left to call Cannect 13:12 - Chantel calls in to ask about getting a business loan. 18:40 - Justin dancing to Thriller and discussing his Chris Farley impression. 21:10 - Is now the time to lock into a fixed rate? 27:04 - Elaine calls in to ask about consolidating her debt into a personal line of credit. 30:58 - Marcus discusses why banks should take a more long-term view on their borrowers. 32:35 - Cannect can help you build a plan to decide your most cost-effective plan to borrowing money. 35:00 - Banks don’t discriminate in their lending practices by area.
This week's episode discusses renewal and refinancing options. We go over the differences between a refinance and a renewal and when it is best to move forward with either decision. Determining the right time to break your mortgage is important in order to make the transfer as cost-effective as possible for you and Cannect can help you with just that.
Big banks are not going to look out for you, they are going to try and cross-sell you whenever they have the opportunity. It's so important to know what banks are motivated by and if you can use that to your advantage, you'll have a leg up on everyone else. Have a listen to get this understanding and also what to consider when deciding to purchase a rental property in order to maximize your long-term earning potential.
0:00 - Intro 0:32 - Refinancing VS renewal 2:00 - Hammer down to lowest possible rate then shop around 4:00 - Bank of canadas and federal reserve overnight rate or prime rate 7:00 - Effect on the economy of stimulus and Banks cross selling products 10:00 - When you should lock in 15:00 - Breaking your mortgage at the right time 20:00 - Bonds yields go up mortgage rates go up and penalties go down 24:00 - Understanding what banks are motivated by and figuring out ways to use that to your advantage 27:00 - What to consider when Purchasing rental property
This week’s episode explored a few topics. The first being a report that millennials are looking to their parents for loans more than past generations. The next being the Cannect exit strategy: what is it, and how does it work? Take a listen to explore these topics with us.
One thing that is quite clear in this industry is that Canadians pay WAY to much for home equity loans when their banks decline them. We are at a point where pricing is determined exclusively by supply and demand instead of by the amount of home equity, the way it should be. Cannect is determined to bring the Canadian mortgage marketplace closer and closer to that point. Our commitment is to improve the financial well-being of our borrowers and we would love to do that on as large of a scale as possible.
0:00 - Intro 0:35 - Article shows millennials are relying more on loans from their parents to enter the real estate market than previous generations.
2:11 - Marcus explains how low interest rates leading to higher asset prices is a factor for this.
4:37 - Cannect can help structure a credit facility within the family.
8:14 - Justin and Marcus answer an email question about drawing equity out of one’s property to invest it.
10:58 - Cannect MIC is an option for investing this drawn equity.
13:59 - Cannect’s goal for every client is to make sure they are well informed.
15:52 - Borrowers come to Cannect to improve their financial position.
18:57 - Education, weddings, and many more large expenses are regularly paid for by parents even if it puts them in a financially vulnerable situation.
20:46 - The Cannect “exit strategy” is simply taking a borrower from one debt position and bringing them into a lower-cost one.
23:47 - A listener emails in who may be in a better debt position than she thinks.
28:23 - “The cure to anxiety is creativity”. Take action and make the call to see if you can improve your debt position.
32:42 - Canadians with ample home equity still find themselves paying way too much in interest.
34:45 - OSCAR is Cannect’s sophisticated mortgage underwriting technology.
37:31 - Like Googling your symptoms to make a self-diagnosis, finding the solution to your debt situation through Google can be difficult.
38:48 - Use Cannect as the resource to help you unlock and/or park your equity.
This week's episode was centered around the mortgage renewal. People think that they are doing themselves a favor by accepting their lender's offer right when they contact you just to get it off your plate. We also continued with our previous show's conversation regarding interest rates and the direction they are taking. Whenever interest rates start to go up, variable rate borrowers should examine whether or not now is the time to lock into a fixed rate mortgage. Have a listen to learn how to get the best rate on your renewal and to get some insight on whether or not now is the time to lock into that fixed rate.
If your mortgage is coming up for renewal soon, try out the tips from this episode! If you already forgot what they were or just didn't feel like listening this week, give Cannect a call instead. We can help you get the best renewal rate possible, even if it means switching to another lender. All the work that's involved with making the switch, we'll take care of it.
0:00 - Intro 4:46 - The culture of any company starts from the top. 7:25 - Justin discusses the image people in finance have and how Cannect looks to hire “real” people. 10:59 - Caller question about term length options for a mortgage and how your ideal option may change based on your credit score. 18:40 - Justin explains the difference between renewing your mortgage and refinancing your mortgage. 20:10 - Marcus discusses the stress test that was implemented a few years ago and the aftermath of it coming into effect. 28:47 - What happens if you don’t renew your mortgage? 30:48 - Marcus explains the bank’s mortgage renewal process. 34:00 - A caller asks if now is a good time to lock into a fixed rate.
Back in 2006, the Bank of Canada produced a report that does a great job highlighting why Canadians should be using mortgage brokers. Did you know that the banks discriminate based on loyalty? Have a listen to the episode to hear more surprising facts from the article.
Ultimately, all of these benefits to using a mortgage broker can be summarized to simply having someone in your corner when it’s time to renegotiate your mortgage. The misconception about them is that they are just 3rd parties that get added to the transaction and their commissions come from your rate savings. Mortgage brokers get paid by the lender of your mortgage, not you. And if you don’t follow through with the deal, you don’t owe us anything! The unbiased advice our agents provide is free of charge. Our only objective is to make sure all of our borrowers are in the best mortgage suitable to their goals and needs. Never hesitate to give us a call to find out if there's a way your mortgage situation can be improved.
Marcus Tzaferis and the Cannect Team
0:00 - Intro
5:32 - What is a mortgage broker?
6:47 - A Bank of Canada report from 2006 shows the true benefits of using a broker.
11:47 - Caller question regarding the refinance of a commercial mortgage.
17:39 - Marcus and Justin discusses why and how banks may not have your best interests at heart.
21:41 - Justin explains to a caller how going to a mortgage broker is the best way to get free, unbiased advice for your mortgage situation.
24:43 - Matthew explains how an evaluation of your investment options relative to the rate you can borrow is imperative prior to a mortgage refinance.
26:40 - Cannect’s main goals are moving borrowers to lower-cost capital and optimizing the efficiency of their mortgage.
32:08 - Marcus takes a look at bond yield changes over the last 15 days and discusses how they may impact fixed-rate mortgages.
This week's episode is all about Cannect's investment vehicle, Cannect Mortgage Investment Corporation (Cannect MIC). Since 2013, we have been lending home equity loans to borrowers who need to repair or build their credit score, income, or their property. This won't be news to our longtime supporters and podcast listeners, but have a listen to this week's episode to learn more about Cannect from the investor's point of view.
Cannect's goal is to generate stable, consistent returns that are uncorrelated to the stock market. It can be a great complement to a diversified investment portfolio. If you have any questions about our MIC, give us a call anytime to learn more.
0:00 - Intro 4:22 - How Cannect adapted to COVID-19 with its investment vehicle and borrower base. 6:51 - Improving credit simply comes down to removing any unsecured debt balances by using a borrower’s home equity. 8:17 - How does a Mortgage Investment Corporation work and how Is Cannect MIC different. 15:56 - How does Cannect evaluate borrowers for the MIC? 19:13 - A listener calls in with a question regarding where credit data comes from for credit reports. 22:58 - Marcus shows Cannect’s investor portal and website. 30:24 - Marcus provides examples of registered account opens that can be used to invest in Cannect MIC and some of the advantages they provide. 32:09 - A listener calls in seeking advice on drawing more money at his mortgage renewal and Marcus presents investing that money into Cannect MIC as an option. 38:40 - Quick last call taken regarding the use of registered accounts prior to retirement.
We have discussed reverse mortgages on the show before, but this week we took a much deeper dive. We explored what it is in the most basic terms, the pros and cons, whether it is sufficient for retirement income, the age requirements, the equity requirements, and how it factors into your future estate. Have a listen to the episode below to get all of these answers.
As far as we explored the reserve mortgage, the main takeaway from the episode should still be that Cannect's objective is to find the right mortgage for everyone that calls us. There are so many great financial products out there, but if you just walk into a mortgage lending company that offers reverse mortgages and ask for one, they'll give it to you. The agents at Cannect will ensure that there is no superior product out there before recommending a reverse mortgage to you. It is a great product, but only if it is absolutely necessary. A call to Cannect might be exactly what you need to find out what that ideal product for you is.
0:00 - Intro
2:42 - What is a reverse mortgage?
3:34 - What makes a reverse mortgage attractive?
4:35 - Limitations of a reverse mortgage
8:29 - An alternative for accredited investors might be borrowing money to invest.
11:20 - A reverse mortgage in basic terms.
13:19 - An email from a listener looking at debt consolidation options and how his family can potentially help.
19:29 - Small percentage changes to your debt can be life changing.
21:38 - Can a reverse mortgage be used as a primary income source during retirement?
25:34 - Ideal age for a reverse mortgage and planning it with your retirement and future estate.
30:00 - The product range the Canadian mortgage market can have is advantageous to the consumer.
32:08 - The reverse mortgage is a great product, if it needs to be used.
36:20 - Text question from a listener about taking equity out of his home to assist his daughter make a down payment.
39:33 - Text question from a listener about getting turned away from a reverse mortgage lender.
This week's episode talked about two important aspects of today's lending landscape: credit and modern technology. Credit has been essential to securing low-cost capital forever. While everyone thinks that bad credit is impossible to repair, it is in fact the complete opposite. Have a listen to the episode to get a better idea on how credit can be improved.
Technology, on the other hand, is rapidly improving and always changes the way we see the mortgage industry. As you'll hear in the episode, Cannect invested in its own technology many years ago that aimed to ensure all of our customers are in the healthiest long-term financial position they can be in. If one of our customers, even those we served many years ago, has a way to save money by breaking their mortgage or locking into a fixed rate mortgage, we will alert the customer of this opportunity. Without the technology and the people, Cannect would not be the company it is today.
0:00 - Intro
0:55 - An uncertain economy can ruin credit, but it can easily be repaired.
3:36 - Matthew explains why Canadians should start a dialogue on improving their financial situations.
5:39 - Marcus elaborates on why a mortgage broker can be that trust person to speak about your financial situation with.
10:30 - The banks only have certain tools to help you, and their profitability comes first.
17:19 - Canadians are becoming more well informed on the limitations of their bank’s advice.
19:34 - Cannect’s people and technology are its driving force.
27:03 - Marcus explains some differences between borrowing in Canada vs Europe.
29:48 - Email question from a borrower whose bank told her to seek out a broker.
34:26 - It’s more profitable for banks to lend unsecured credit than to refinance a borrower’s mortgage.
This week's episode goes through the entire business of Cannect. From the brokerage side, to the private lending side, and the investment side, Cannect was designed to help anyone looking to improve their financial situation. Have a listen below to hear about how they all tie together:
As we mentioned, nothing ties the business together like its motivational alignment. Our borrowers are motivated to make consistent payments to improve their cost of capital in a timely manner and our investors are motivated to earn a return from quality home equity loans. The final tie to these two groups is the exit strategy that our brokerage provides to the borrowers. These three groups working together is what completes Cannect's business model.
0:00 - Intro
1:22 - Information is an easy way to make a difference in the mortgage space.
3:56 - Matthew shares a story about how Cannect helped a couple pay their credit card debt and finance their business through their home equity.
8:48 - Marcus explains how Cannect helps borrowers through it’s investment capital.
12:30 - Justin talks about how Cannect can help borrowers by asking questions to the lenders they didn’t even know they had.
13:34 - Marcus explains how Cannect is positioned to serve borrowers and investors without bias.
19:06 - The conversation to a better mortgage solution starts with a broker.
21:08 - Justin outlines a standard call with Cannect.
23:20 - Marcus explains why Cannect has an “elegant” business model.
32:20 - Brenda looks for a home equity loan solution from Cannect.
35:20 - Justin and Matthew clarify how quickly bad credit can be repaired.
37:25 - Don’t take advice from the wrong people in uncertain economic times.
This week’s episode is all about being well informed. What does this mean? Knowing your mortgage time horizon, knowing what lenders are out there, knowing what resources are available to you as a borrower. The big banks thrive on fear and a lack of knowledge that their borrowers possess. Have a listen to the episode to learn more important-to-know information, answers to some caller questions, and a dive into the mortgage renewal process.
As you’ll hear at the end of the episode, we have a new mortgage TV show on CHCH TV every Saturday morning at 8:30. Starting this weekend, tune in to watch our show live! We are very excited about it and you should be too.
Hope you are having a great end to the summer.
0:00 - Intro. 3:07 - Marcus explains why you need to be informed when you walk into your bank to discuss your mortgage. 10:59 - Karin calls in to ask what the most flexible mortgage options are. 14:17 - Anastasia calls in to ask about her current home equity loan offer. 18:00 - Justin explains why it’s beneficial to have a broker in your corner during the mortgage process. 20:41 - Amir calls in to ask if a home equity loan can be helpful to erase his credit card debt. 26:35 - Vikki calls in to ask about getting a lower rate on residential and commercially-zoned property. 32:17 - Marcus explains the mortgage renewal process, whether it’s with your current lender or a transfer to another. 37:27 - Cannect’s new TV show.
This week’s episode gives an outline and history of the different lending options in the Canadian mortgage marketplace. If you’ve seen a mortgage broker, you’ll know of these mortgage finance companies like First National and MCAP, but the majority of people still only think of the big banks as the optimal lending options. Have a listen to this week’s episode to learn more about the backgrounds of these mortgage finance companies and how they came into fruition.
Pay special attention at around the 25-minute mark where we explore the concept of open banking. Many countries around the world have been able to leverage the idea with innovative fintech solutions, but not Canada. The big banks have so much lobbying power with the federal government and they stand to lose a lot of the control they have over the Canadian consumer if their data were to be shared and used in innovative products. Hopefully Canada doesn’t reach this point embarrassingly late.
0:00 - Intro 2:02 - Marcus outlines the different types of lenders in the Canadian mortgage market, how they differ, and their history. 11:22 - Iain recalls when he learned the true intentions of the banks. 16:34 - Sarah calls in to ask about the rate offer she received from a mortgage finance company through her broker. 20:27 - Marcus summarizes the advantages Sarah is facing by going with a mortgage finance company like MCAP. 21:52 - Jack calls in to ask about the service mortgage finance companies can offer compared to the banks. 25:05 - Marcus explains how the banks are holding fintechs back from leveraging open banking. 29:36 - Tina calls in to describe her situation and to ask if a renewal or a HELOC is the better option. 36:23 - Justin wraps up the show by reminding listeners that they should be breaking their mortgages.
This week’s episode fielded several caller questions. The Cannect team went over strategies to help get a better rate from your bank, the reasons people may have for breaking their mortgage, and dove into the bank’s true motives when dealing with their most loyal customers. Marcus, Justin, and Matthew outline their stories of how they got into the mortgage industry and what qualities and skills can help people thrive in it. Have a listen to the episode below:
If there is one thing to take away from this episode, always tell your bank that you are rate shopping. Your bank counts on you to not look anywhere else for your mortgage renewal. As soon as you tell them that you are looking at other options, even if you aren’t, you’ll see that the banks will have wiggle room in the rate they can offer you. Their obligation is to their shareholders, not you. So if they know they might lose you and take a profitability hit because of it, it’ll usually be in their best interest to reduce the rate a bit.
0:00 Intro
0:42 - Marcus, Justin, and Matthew explain how they got to where they are today.
6:10 - What skills and qualities can make someone a good mortgage broker?
10:45 - Alex calls in to go over whether it is worth it for him to go to other lending options to consider breaking his mortgage.
15:15 - Why do so many people break there mortgage?
19:12 - Nancy calls in to ask about commercial mortgage rates.
24:06 - Ahmed calls in to ask why the rate his bank is offering him at renewal is more than what other institutions are promoting.
33:07 - Steve calls in and Cannect explains asset-based lending.
36:47 - Justin explains why borrowers should always tell their banks they are shopping around.
Breaking your mortgage and the penalties associated with it is the topic we tackle this week. We had three callers, along with Iain, explain their current mortgage situation and what they face to get out of it. As you’ll hear, sometimes the penalties are minimal and your lender will try to hide that from you, but other times it is substantial. Have a listen to this episode to learn how the penalties get calculated yourself.
There is so much to take away from the scenarios these callers are facing. As long as you have a fixed-rate mortgage, the break penalty calculation will always remain the same:
Step 1: Calculate the discount you received from your bank by subtracting the rate they gave you from the 5-year fixed posted rate at that time.
Step 2: Find the difference between the current posted rate you’d pay for a mortgage to finish your term and the discount you received.
Step 3: Calculate the Interest Rate Differential (IRD) by taking the difference between the rate you received and the step 2 difference.
Step 4: Divide the IRD by 12 to get the Monthly IRD.
This is what the bank wants to recover from you from leaving your deal early. Multiply the monthly IRD by the remaining balance and the number of months remaining on your term to get your penalty to break. If you don’t want to take the time to calculate this, no problem. Cannect will do it for you. Just give us a call and we’ll let you know if the numbers work for you to save long-term.
Podcast Notes:
0:00 - Intro 2:02 - Iain tells the story about his break penalty. 5:45 - Marcus explains why it is best to have various financial products from various banks. 8:25 - Calculating mortgage penalties. 11:39 - Daniel calls in to discuss his mortgage penalty. 23:00 - Josh calls in to discuss his mortgage penalty. 31:30 - Additional tricks and tips for Josh’s situation. 34:58 - Marcus explains his recommendation of Mortgage Financial Corporations. 36:21 - Sandy calls in to discuss switching away from her current Scotiabank mortgage.
Dealing with private lenders can be tricky. They often see good borrowers in desperate situations. These lenders often have to pay a lot of third party fees for deal origination and advisor commissions, so they need to make that up from the borrower. Without information, these borrowers can be exploited as a result. Have a listen to the episode to get the details.
As we mentioned in the episode, a lot MICs out there have to pay fees to brokers to get them deals and to advisors to get them lending capital. These simultaneously increase the rates and fees they have to charge borrowers to lend money and decrease the rate of return for investors. Cannect’s ability to generate its own deals and raise its own investment capital means that people can borrow at a cheaper rate and investors can earn a better return. Cannect prices based on only two things: home equity and exit strategy, so we never take advantage of a borrower’s level of desperation to price higher. If the rate you get from a private lender sounds ridiculous when you have a lot of equity in your home, it probably is. Cannect will have a better rate for you and our salaried staff will work with you to get to lower cost capital afterwards.
Give us a call today: 416-766-2666
Notes:
0:00 - Intro 1:15 - What is a private lender? 6:45 - How Cannect is different from other private lenders. 13:20 - Marcus provides a solution for lending behind a collateralized charge in second or third position. 16:35 - The elegance in the solution is the exit. 19:10 - Marcus outlines Cannect’s cheaper pricing terms to a prospective borrower. 25:44 - Cannect’s requirements to offer a home equity loan. 27:13 - Marcus explains the bank’s incentives to a caller examining a refinance.
MakeMoneyCount #Cannect #Mortgages
This week’s episode had it all: Caller questions, tips for evaluating your mortgage breaking options, and classics from the Travelling Wilburys. Our callers each had situations that everyday borrowers can relate to. Being turned away from borrowing more due to being self employed, and needing money to support a small business that is struggling from COVID. So many people have experienced these situations and they are exactly why Cannect exists. Have a listen to hear how Cannect can help.
Some key points that we really want to emphasize are:
- Even if you know to break your mortgage to save long-term, call us to help reduce your break penalty.
Determining whether or not you should break your mortgage is not as hard as you think. It just comes down to one calculation: The amount you would pay in interest on your current mortgage over the rest of the term, minus the amount you’d pay in interest over that time period if you broke it and secured a lower rate, minus the penalty to break your mortgage. This penalty tends to be quite high, and it is usually the factor that prevents people from going through with a mortgage break. If you think that may be the case, still give us a call and see if we can reduce this for you. We have found that over the last ten years, we have been able to engineer a break penalty 20%-25% lower than initial quote from the bank to break it. Those savings go directly into your pocket, no one else’s.
- Your bank may match a lower rate you get elsewhere, but it will still come at a cost.
As soon as the bank offers to reduce your rate to match a competitor, they will factor that discount into the break penalty you’d be charged to get out of it. It’s not going down; it’s going up to make up for the reduction in their interest income. Big banks are legally allowed to charge higher break penalties than other mortgage lending institutions. Even if they disclosure this to you directly and say that you ‘probably won’t have to break’, remember that 75% of Canadians break their mortgage before the end of their term. Even if your bank matches the offer you get elsewhere, it will usually come at the cost of a higher break penalty.
Breaking your mortgage is always an option to you as a borrower to improve your long-term savings. You can determine the savings yourself based on rates you see online, but give us a call to get that pre-approval and really get that exact savings number. Who knows, maybe we’ll even be able to get that penalty reduced to save you even more.
0:00 - Intro 1:38 - Marcus discusses how the banks make their profits and how you can reduce the amount you pay them. 5:42 - Cannect’s approach and goal to helping you as a borrower or an investor, with an example purchase scenario. 13:03 - Marcus discusses how Cannect can price home equity loans through its website and fund within 24 hours when banks turn you away from borrowing more. 20:25 - Borrowers may look to resolve their financial situations now that we are emerging from the pandemic. 24:10 - Justin explains how businesses can get commercial loans, private or through a B lender, if their bank says no. 27:56 - The worst thing banks can do to their borrowers is waste their time. 36:55 - How banks make up for having to match a lower rate from a broker. 39:46 - Important facts about Cannect’s investment fund.
This week’s we zone in on home equity loans. There is a tug of war going on right now between interest rates and inflating asset prices that’ll dictate where housing prices will go over the next several years. This adds a lot of uncertainty to people looking to enter the real estate market for the first time, but it will also greatly impact those already in it looking to take out home equity. A short-term home equity loan may be your best option. You may have missed the episode live because you were watching an amazing Euro Finals, but have a listen to it now to learn some helpful tips for evaluating your home equity loan options.
Three helpful considerations in order to get the best product FOR YOU are:
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Time: Whatever amount of time you think you need the money for, add three months. Lenders will reduce rates if you are precise with the time you need the money for because they want to be able to lend your money right back out again after you paid it back. If you underestimate how long you need the money for, you’ll be forced to renew for another term and get hit with fees in the process.
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Amount: Similar to the time aspect, understating the amount of money you need also leads to extra fees if you go back to them for more. They will always try to give you less than you need as a result. So know your number, and make sure you get it or as close to it as you can where you know you won’t have to go back.
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Exit Strategy: This is by far the most important. Lenders always want to know how their borrowers plan to exit the deal. If you can communicate a clear and reliable plan to the lender for how the funds will be used and then returned, you’ll find they can be much more flexible on the rate they offer you.
These are important aspects of all home equity loan that lenders take very seriously. However, there are also questions that you as the borrower should be asking your lender before coming to an agreement:
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How long will it take to close the deal? The longer it takes, the your more debt continues to increase and your credit score decreases. Make sure your private lender can close the deal quickly.
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Are there any hidden fees? Once you get closer to the closing date, lenders know that time is no longer on your side and if there are any fees you don’t know about yet, you may find you don’t have a choice anymore. Ensure you know all the fees that may be involved, from the lender, any appraisal, and legal costs, before proceeding with the deal.
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Don’t be afraid to ask the lender if they have dealt with other borrowers in your situation, and if so, what rates did they pay. Lenders and brokers are governed by regulators and they aren’t allowed to unfairly price gauge their borrowers. Make sure a lender does not detect desperation in your voice and upcharge you because of it.
Information is your friend in this space. The more you know about what lenders are looking for in a good borrower and what you need from them, the more you will be able to save long-term.
Cannect #HomeEquityLoan #HomeFinancing #MortgageBroker
We hope you all had a great Canada Day weekend. This week’s episode takes a deep dive into the profitability of our Canadian big banks. Did you know that these banks, on average, have been profiting $4,000 per Canadian household over the last year? While the services of the banks are essential to households and our economy as a whole, it is important to know how to avoid being taken advantage of. Have a listen to this episode to get a better understanding.
Here are some important takeaways to consider.
Loyalty is not always your friend.
We have discussed this in a few episodes now, but for a good reason. If you are under the belief that your bank is your only option for credit, they will leverage that. A lot of borrowers have a mortgage with their bank with a collateral charge that exceeds the amount they borrowed and because of the stress test, they still can’t increase their mortgage. When the banks talk about your unsecured credit options, that’s when it’s time to call Cannect. The unsecured options will destroy your credit if you keep their balance maxed out for too long. Seek out other options, a mortgage broker will help you do that.
They’re called the Big Banks for a reason.
Their profitability comes from their size. They have the ability to hold off the competition because of their size and brand awareness. 20 years ago, only 20% of Canadians used a mortgage broker. Now that number is up to 40%, but still well-below the US at 80%. The banks’ residential mortgages become less profitable as more Canadians turn to mortgage brokers, but the banks went through this problem before with Trust companies. When companies, like Canada Trust, started providing discounted rates, it ate into the big banks’ market share. As a result, these companies were acquired by TD and other Big Banks.
The banks will always be able to adapt, so it’s always up to us as the consumers to recognize that we can be a David to their Goliath at times and learn about our opportunities to save through other options. Cannect agents are happy to discuss these options with you anytime.
Marcus Tzaferis and the Cannect Team
Cannect #MortgageBroker #CanadianBanking
Marcus, Justin, & Matthew once again join Iain Grant, host of Newstalk's 1010 Radios' Ask The Expert, for a deep dive into the world of renegotiating and refinancing your mortgage.
Purchasing a home can be one of the most stressful situations in your life, and trying to renegotiate the terms of that purchase years down the line may seem like a daunting task that you're going to avoid at all costs. But truthfully, there may be a chance you're leaving thousands of dollars on the table as your equity sits doing nothing, so why not look into what options are on the table for you?
Refinancing is the term used to renegotiate the terms of your mortgage. Why would you do that? Well, perhaps you want to lower your month to month payments? Maybe you want to access some of the equity in your home now that it's gone up in value? Maybe you want to shorten how long it will take to pay off? Whatever the reason, you shouldn't be the one negotiating this contract.
The team at Cannect is trained to negotiate these terms and find you the best product available in the market today. Your bank might not be the best choice when it comes to your new mortgage. You're already a client of theirs, and they know how much this intimidates you.
You shouldn't have to do this work. You should have the best options available to you all the time. Those options come from Cannect.
Call us at 416-766-2666 or visit https://cannect.ca and get in touch with us today to explore your refinancing options.
HomeFinancing #MortgageBroker #FinancePodcast
Marcus, Justin, & Matthew join Newstalk 1010 host Iain Grant once again as the gang tackles the discussion of B-Mortgages and Bad Credit.
Don't forget to tune in Live every Sunday at 3pm for brand new episodes of Make Money Talk, The Mortgage Show on Newstalk 1010!
Visit https://www.Cannect.ca for more details.
Last weekend, Matt and Marcus took to Newstalk 1010 to discuss a product most people know of, but very few fully understand: the reverse mortgage.
People often go to their banks to inquire about it as an option to supplement retirement income, but that is not the best course of action for everyone. Have a listen to the episode to learn more about the reverse mortgage as a product and if it may be the best option for you.
We go into good detail on the episode, but one thing to take away is that it’s always ideal to give a mortgage broker as much detail as possible about your financial situation so that they can set you up with the right product. The products and rates you qualify for will depend on so many factors like how old you are, how much equity you have in your home, whether or not you have a pension or investments to supplement your retirement income.
A reverse mortgage may be your best option, but you might be able to qualify for a much cheaper home equity line of credit at that bank or elsewhere if you have enough pension or investment income supplementing your retirement. The rate difference on these two products can be 2-3%! Let a mortgage broker know your particular situation so you can get the best product available.
Marcus Tzaferis and the Cannect Team
Cannect #ReverseMortgage #HomeFinancing
Join us for another Episode of Make Money Count, now recorded live every Sunday at 3pm EST on 1010 Newstalk.
Marcus shares his thoughts on the new qualifying stress test for Canadian mortgages, and shares his ideas on why that shouldn't be reason alone to rush into the market.
Starting June 1, Canadian home-buyers will face tougher mortgage stress test rules that will decrease the buying power of most borrowers. The move, announced by the country’s banking regulator in May, was in response to an overheated market that has already started to see signs of cooling.
Even prices in the country’s largest market have started to stall. The average selling price for the Greater Toronto Area was $1,090,992 in April, down slightly from $1,097,655 the previous month, according to the Toronto Regional Real Estate Board.
The new mortgage stress tests will affect Canadian homebuyers applying for or renewing a mortgage.
The new qualifying rate on uninsured mortgages – where the down payment is more 20 per cent or more – is now either two percentage points above the contract rate, or 5.25 per cent, whichever is higher.
Before June 1, any buyer whose down payment was 20 per cent of the purchase price or more had to show they could afford mortgage payments if the interest rate was two percentage points higher than what the bank is offering them or 4.79 per cent, whichever was higher.
This past weekend, your two favorite podcast hosts took the show to Newstalk 1010 Radio! In this one-hour special, we highlighted the advantages of using a mortgage broker for unbiased financial advice instead of your bank, discussed the impact of COVID-19 on the landing landscape as well as the consumer, and took incoming calls from live listeners. Have a listen to the episode HERE (link).
A lot of you who have listened to previous Make Money Count episodes will already have heard a lot of the points discussed. But a couple of key points to always keep in mind:
- Your bank’s priority is to their shareholders, not you.
Your bank knows that the average borrower thinks they are the only place to turn to when they need a mortgage or need any form of loan. They likely are not offering the best rate available to you, and they’ll limit your credit options if you need to access more capital in the future. A mortgage broker will shop you around with several different lenders to get you the best rate possible and will give you unbiased financial advice if you need to access home equity in the future.
- Secured vs Unsecured debt: Go with secured.
If your bank only offered you credit cards and unsecured lines of credit when you needed help, the interest on it will be much tougher on your long-term finances than debt secured against your property. If you own property and have the equity in your home, the rates you will be able to get from secured debt will be much lower. If your bank won’t present secured options to you, go to a mortgage broker.
- The Cannect difference? Salaried staff and a streamline process.
Any mortgage broker can help you, but our salaried staff won’t ever pressure you into making any decisions. All we want to do is lay out all the options for you to help you make the best decision FOR YOU. And with the help of our in-house technology, we have the ability to go directly to borrowers and investors. Without fees to 3rd parties, we can lend cheaper and generate greater returns for investors simultaneously.
Look out for us on more live shows in the near future. Feel free to call into them with any questions, or just reach out to us directly at 416-766-2666.
Marcus Tzaferis and the Cannect Team
For those of you who are analytical thinkers, we’ve got a good one for you this week! This is the episode where we show you how Cannect, as a brokerage, lender, and investment fund, can maximize value and savings for you all at once. The weighted-average cost of capital (WACC) is the net, overall rate that a borrower pays to service all of their debt. Many people come to us in messy situations with multiple existing debts. The first thing we do is calculate their WACC. By refinancing and restructuring their debt, whether it be through a 1st mortgage refinance, a new home equity loan, or a mix of both, our goal is to get the borrower in a position where they are paying less money to service their debt annually than they were before. This may sound complicated, but have a listen to the episode where we describe this further and take you through real examples of improved financial situations where we helped people reduce annual debt payments.
A lot of people don’t see this as something they can do because of costs associated with breaking their debt agreement. Yes, these costs can be high at times, and sometimes just not worth it. We can apply the cost of breaking the debt agreement into your new debt servicing charges and see if it can save you money in the long term.
I’m sure many of you have also heard the saying “Time is Money”. That couldn’t be more true here. When analyzing an individual’s debt servicing situation, we account for not only its cost, but also the time it will take to pay the debt back. Can we get you into a situation to pay a certain debt faster, or do you see yourself being able to pay off a debt in the near future? These are additional factors that make every WACC and debt servicing solution unique.
If you didn’t even make it through 5 minutes of the episode, we get it. These situations are all complicated, stressful, and boring at times. These are the problems we find solutions to so you don’t have to. We will determine the best course of action to improve your debt servicing costs and overall financial position.
Just give us a call, we’d be happy to help you just as we did in this episode.
WACC #MortgageRates #InterestRates #Cannect #Investing
We have a bit of a different podcast this week. Hopefully we can shed some light on a subject that has a bit of an undeserved stigma in the lending world. Most people don’t know what really separates the A side from the B side and what can be done to move you up. We dive into these topics and more.
What surprised you the most about each lending side? We may have an idea:
Owning several properties is a good thing, right?
Sure, but not to your bank. Owning real estate may be a great way to benefit from value appreciation and streams of income, but your bank will only see the liabilities and expenses of the ownership. A-lenders will always hesitate to approve you for a good rate if you own a lot of real estate, so you may find yourself on the B side for this reason alone.
Bad credit is SO easy to fix.
If credit is the only reason you don’t qualify for an A deal, you are in luck. If you have enough home equity to turn your unsecured debt into secured debt, it should not take long to lower your debt servicing costs and get you with an A-lender.
Everyone’s situation is unique, a mortgage broker can make a plan that’s best for YOU.
No two people are the same. You may be a high-salaried employee with a recent blemish on your credit report, a self-employed business owner with flawless credit, or you may have a strong salary and credit score, but own many properties: the A side is going to think twice before giving you an approval. By going to a mortgage broker, they can tailor a plan to perfectly fit your needs. At Cannect, we can do this for you for FREE. If you go to your bank, they will just tell you that you don’t qualify, maybe offer you a line-of-credit, or tell you to look at the B side. By going to a mortgage broker like Cannect, whether it’s finding you the best B deal available or giving you a small home equity loan to improve your credit, we can repair your particular situation and get you on the best path back to the A side and long-term savings.
Just because Ontario is back in a lock-down, it doesn’t mean you’re locked-down into high-cost capital. We hope you enjoy the spring and stay safe.
Cannect #MakeMoneyCount #BMortgages
Inflation is coming, make sure your mortgage is ready.
A Quick Guide to save money on your mortgage in the next two weeks!
Last week we found out that even though we have been in a lock-down, inflation has started to creep up. Yesterday the Bank of Canada (BoC) said that they are going to start slowing down their bond purchases. These two statements are directly linked to your mortgage rate. If you haven't compared your current rate to the rates available on the market, now is the time.
You can be forgiven for not wanting to deal with your mortgage over the past few months. But you should know that more than 80% of Canadians are losing money on their mortgages.
It is almost certain that the rate on your mortgage is too high relative to what you should be paying. If you're an existing Cannect borrower, this doesn’t apply to you, our mortgage manager software analyses every mortgage file we have to identify savings and alerts an agent to notify you. BUT, if your mortgage was done directly with any lender in Canada, you should know that they have no obligation to inform you that you might be able to save money by paying them less in interest.
You need to know that interest rates have already started increasing, they always start moving slowly and then move faster, that’s the way the market works.
STEP 1: Let’s start off by addressing the elephant in the room! Here are the three main reasons you don’t want to even look at your mortgage:
You dread what the mortgage penalty to break it might be. No need to stress about this. In many cases, we can lower your rate with your existing lender. In others, we can reduce the penalty significantly, and at the very least we can monitor your mortgage until savings come available or your mortgage is coming closer to maturity. Thinking about collecting paperwork gives you anxiety. This is our job! Not yours, you focus on things you need to and let the Cannect team do this. Our technology and mortgage knowledge make the process easier than ordering a coffee. Shopping for the lowest rate SUCKS! There are so many rates out there, so many lenders, so many brokers. We know! That's why we have a team searching hundreds of lenders to get you the best rate, every time, guaranteed!
STEP 2: Once you have decided to move forward with analyzing your mortgage for possible savings, we need to figure out what type of interest rate you should be switching to.
Three factors should influence your decision as to what your next mortgage rate should be: Time: How long do you plan on keeping your mortgage for? Risk Appetite: How willing to absorb an interest rate increase are you, or how much are you willing to risk to save money with a variable rate mortgage? Where is the economy heading?
STEP 3: The way you answered the question from step 2 should leave you selecting one of 3 mortgage products today:
A 5 Year Fixed Rate starting at 1.60% A 5 Year Variable Rate starting at 1.0% A 10 Year Fixed Rate starting at 2.60%
Rates are always changing, and although these are not likely to be lower anywhere else, we will constantly be checking. Trust is an important part of this process, you need to trust that the rates we provide you with are the lowest on the market.
STEP 4: We get to work! At Cannect we work with hundreds of Canadians each and every month in an effort to reduce the interest they are paying on their mortgages. Our primary goal is to make the process of renegotiating your mortgage with your current lender, switching your mortgage to a new lender, or borrowing more money, as simple and easy as possible. We have it down to a science. No paperwork, just a phone call to identify what savings are available to you, and if the numbers make sense, two of our mortgage specialists will be dedicated to your file. We use our huge mortgage origination volumes to make sure you are getting the best mortgage rate on the market, and we use our amazing proprietary mortgage software to help collect and verify all your paperwork. Our service commitment is to do all the things you don't want to do. Want us to deal with your HR department to confirm employment, no problemo! Need someone to call your accountant? That’s us! No need to meet to sign paperwork either. Most of your paperwork can be collected virtually, with your approval.
By now you understand that all of our services are paid for by the lenders we source mortgages with, and more importantly, our entire philosophy since inception is to provide Canadians with sound, unbiased mortgage advice. That means if doing a deal doesn't make sense for you, you're going to hear about it from one of our salaried employees first!
Inflation #MakeMoneyCount #InterestRates
Is it Time to Lock In?
Inflation may be taking us on a wild ride.
If you operated your household finances like a country here is what you would do right now:
1) Borrow as much money as you can at as low a fixed, long term interest rate as possible;
2) Invest in ways to increase your productivity and income well into the future.
This strategy increases your debt, but assuming you can invest in ways that earn income in excess of the interest you pay, your net worth will grow and at the end of the term of the debt, it will be easily refinance-able.
The best Five Year Fixed rate mortgages are typically reserved for borrowers with lower down payments who are purchasing rather than those with higher down payments or with greater equity positions looking to refinance. Today the best 5 year fixed rate mortgage on the market is 1.39%. The best variable rate on the market is 1.35% which is 1.10% below prime.
What we think we know:
The economy will likely experience a double dip recession. The long, hard winter of 2021, with renewed lock-downs, is exposing the gaps in the response of all governments to the COVID-19 crisis. There will be real and lasting damage to the economy as a result.
Low interest rates are here for the foreseeable future. The Bank of Canada has used low rates like a surgeon uses powerful painkillers. Premature cessation of either could be worse for the patient than the disease was.
We are starting to recommend fixed rates in the 5-7 year tenor (we see little value in 10-year rates). Our view is that all of the government’s actions at the moment are highly inflationary, and as the world normalizes that demand will recover faster than supply in the 18-36 month time frame. 5 and 7 year fixed rates appear to us not to reflect this eventuality.
Tomorrow the Bank of Canada will meet to offer guidance as to how the economy is doing and some economists predict we could see a, “Micro-cut”, this would mean a reduction in the overnight rate of 0.10% to 0.15%. We don’t think that the central bank will resort to such a largely symbolic gesture - but it’s possible, if only to talk the Canadian dollar down from its currently lofty position.
Economists believe that although Canada will soon return to its previously robust economic ways we might have a little more rough water ahead. As the vaccine rollout slows and the second wave of COVID seems to be worse than the first, many warn that we are not out of the woods yet. The government’s plans with respect to vaccination, as well as their fiscal and monetary plans, involve significant execution risk and will have unintended consequences. These consequences are more likely than not to be inflationary.
Bay Street, heeding the possibility of meaningful inflation, touts the merits of gold or the stocks of the companies that mine it. Alternatively, they advise an investment in Bitcoin. We take no position on the merits of either. We simply say that for the average Canadian with a variable-rate mortgage, converting it to a fixed rate is easier, cheaper, and less risky than evaluating an investment in precious metals or crypto-currency. Bay Street stays silent on this for the obvious reason: the fees aren’t as high.
Remember that just before the onset of the COVID-19 pandemic, our economy was in robust shape. This strength helped Canada to manage through a period of uncertainty and economic contraction unmatched in living memory. Consumer spending has rebounded, at the same time that the savings rate has increased!
While there will be winners and losers as a result of the pandemic, we are generally positive on the prospects for the economy going forward. A release of pent-up demand and significant infrastructure spend, combined with continued low borrowing rates, will mean a period of above-average economic growth.
To borrow from Alan Greenberg, the long-time Chairman of Bear, Stearns in the 1980s and 1990s - these difficult times will not last forever. Further, in our experience, when the bad times end, they end suddenly and often violently. And regrettably, nobody rings a bell the day before that happens. Stay strong. We’ll be out of the current crisis soon.
Visit https://www.Cannect.ca today.
Cannect #MakeMoneyCount #Podcast
Cannect has been providing 5-star rated home financing solutions to Canadians and helping build equity for investors for over 5 years.
With offices in Toronto and the GTA, Cannect has served thousands of borrowers and investors from Toronto, the GTA, and across Canada.
https://cannect.ca
Notes:
0:00 - Marcus asks Justin if he takes the Fixed or Variable Rate right now. 1:20 – What are the three decisions behind choosing a Fixed or Variable rate mortgages? 3:00 – What are the risks involved with these different decisions? 5:00 – What factors impact the price to borrow? 5:45 – What might be an indicator for rising lending rates? 8:00 – How important are COVID stimulus packages to the Canadian economy? 9:15 – Why are the Fixed and Variable rates so close together right now? (Hotdogs & Hamburgers) 11:12 – What to do if you are currently buying a property. 12:00 – We are not out of the woods yet! What is in store for the future? 14:00 – What direction could rates be headed next? 15:05 – What to consider if taking a fixed rate. 15:57 – What is the penalty to break a mortgage? 17:42 – Marcus summarizes our conversation.