In this episode, Alex McFadyen discusses the upcoming Bank of Canada's (BOC) Overnight Rate decision (on July 23, 2024) and its potential effects on the Canadian housing market. He reviews the trends over the past months, the current state of mortgage applications, and forecasts potential outcomes if the BOC reduces rates again. By examining recent news articles and surveys, Alex gives a comprehensive overview of how interest rates and purchase prices influence homebuyer behavior. He also reflects on the broader economic indicators like inflation, unemployment, and wage growth while addressing homeowners' concerns about the high cost of living and their hesitancy to move. Whether you're an investor, potential buyer, or existing homeowner, this episode offers valuable insights into navigating the current real estate environment.

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

**********

Ready to take the plunge into homeownership? Don’t miss our comprehensive First-Time Home Buyers Course available at the link below. This essential resource is designed to guide you through the maze of purchasing your first home with confidence and ease. Free for a limited time to listeners of the show!

https://alex-s-school-7883.thinkific.com/courses/first-time-home-buyer-course

For daily insights, make sure to find us on Instagram, Facebook, and YouTube: @flowmortgageco

Don't just dream about your future home, make it a reality! Subscribe to "The Flow: Real Estate & Money Show" for more invaluable insights, and visit our website at getflowmortgage.ca to discover how we can help make your property aspirations come true.