Buckle up! Fixed Rates are plunging, but that's not all good news for the overall Canadian economy.

In this emergency rate update episode, Alex McFadyen (The Mortgage Pug) delves into the recent changes in the Canadian economic landscape, ravaged by the recent U.S. stats. Particularly focusing on the impact of bond yields and the U.S. jobs report from early August 2024. This period saw significant drops in bond yields influenced by the Bank of Canada's rate cut and adverse U.S. job data, setting the stage for a possible recession. The episode provides a thorough analysis of the potential effects on Canadian mortgage rates, recommending various term strategies and emphasizing the importance of working with a knowledgeable mortgage broker. It also outlines the anticipated shifts in both fixed and variable rate markets, offering valuable advice for borrowers considering renewing or refinancing their mortgages.

Alex McFadyen is a seasoned independent mortgage broker with over 11 years of experience in the industry. Alex is the owner and Mortgage Advisor of Flow Mortgage Co.

Alex’s Social Media: @themortgagepug

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