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This week on RateSpy TV:
- Rate Impact from the Latest Mortgage Rules: Federal MPs have been interrogating government officials over their new mortgage policies. We dig into how the controversy affects your rate.
- Fixed and Variable Rates Diverge: Like the song goes, “you gotta keep ’em separated.” But are spreads now wide enough for you to float your mortgage? The Spy breaks it down.
- Rate Surveillance: Market rates are on hold.
- Stars & Dogs: The best and worst mortgage deals of the week.
6 Comments
Regarding oil, the latest US rig count is 602, or about double the 2016 low. That alone should put a cap of about $60/bbl on prices. Growth in natural gas liquids production will also hold down oil prices a bit.
OPEC effectively provides a free put at $45-$50, so I expect oil to trade mostly in the $50-$60 range for the next year.
No doubt, few are betting on an oil bull market rocketing rates higher. A 1/4 or 1/2 point bump in rates could easily be in the cards, however, if we get a 5- to 10-point breakout in crude.
Another great episode! I never get tired of seeing that clip showing Evan Siddall’s arrogance and misguided policy beliefs for all to see. It would be funny if it weren’t so sad.
Bill, the purpose of a parliamentary committee is not to lecture witnesses. Leipert was the one showing arrogance (having or revealing an exaggerated sense of one’s own importance or abilities). Siddall seemed to be showing a bit of contempt, probably since Leipert’s grandstanding is not deserving of respect.
Leipert’s really has a problem with Morneau, but he’d get his wrists slapped in Parliament if he spoke to Morneau in the same condescending manner.
CMHC’s CEO did look like he thought he was the smartest guy in the room. More importantly he never really explained why the Liberals had to raise costs on everyone getting a mortgage. If I understand this right, they just screwed bank competitors. I don’t see the purpose in that. Why couldn’t they just make it harder for over-indebted people to get a mortgage? Same outcome but better method.
Amen.