Canada Mortgage Rate Forecast 2024: What You Need to Know⁠

In this video, Chase Belair, Principal Broker and Co-Founder of nesto mortgages, shares his expert analysis on the 2024 mortgage trends in Canada. He covers the following topics:
Expert analysis on 2024 mortgage trends:
- He explains the Bank of Canada’s decision to hold interest rates steady at 5% and its implications for inflation and economic growth.
- He compares the forecasts of the big six banks for potential rate cuts by mid-2024 and how they vary by bank and by amount.
Predictions for homebuyers and investors:
- He discusses the impact of lower interest rates and lower stress tests on affordability and mortgage payments for borrowers.
- He warns about the risks of increased demand and higher home prices due to lower rates and improved consumer confidence.
Tips for preparing for a mortgage rate changes
- He gives tips for homeowners who are renewing their mortgages and how to shop around and negotiate for the best deal.
- He gives tips for homebuyers who are entering the market and how to become a student of their local real estate market and get pre-approved for a mortgage.
💡Stay ahead of the curve with our expert predictions and analysis on the 2024 rates forecast. Whether rates are expected to rise, stabilize, or fall, we’ve got the insights you need to plan your next move in the housing market.
👉 Subscribe to our channel for more real estate insights and market forecasts to empower your home buying & investment decisions: ‪@nestomortgages‬
💬 Have questions? Drop us a comment below if you have any questions about the 2024 Canadian mortgage interest rate forecast or if there’s a specific topic you;d like us to cover for future videos.
📝 Disclaimer: This video is intended for educational and informational purposes only. Please consult with a financial or mortgage advisor for personalized advice before making any financial decisions
__
0:00 Introduction to the Canadian mortgage interest rate forecast
0:13 Key points we'll cover
0:39 What is the Bank of Canada's objective?
1:36 What does this mean for Canadian homeowners and homebuyers?
1:42 What should homeowners do?
2:07 Chase's two main tips if you're planning on buying a home in 2024
2:32 Closing notes
__
Connect with ‪@nesto‬:
Website: www.nesto.ca/
Facebook: / nestomortgages
Linkedin: / nesto-ca
Instagram: / nestomortgages
Telephone:[phone]
__
Interested in learning more? Visit our blog: 🔗www.nesto.ca/featured-article...
Low mortgage rates from the get go, guaranteed 👉 Visit: www.nesto.ca/mortgage-rates