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Mortgage Rule Backlash & Wider Fixed-Variable Spreads: RateSpy TV

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.

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  • Ralph Doncaster says:

    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.

    • The Spy says:

      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.

  • Bill M says:

    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.

  • Ralph Doncaster says:

    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.

  • JP1 says:

    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.

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