Homebuyers are stretched pretty thin trying to make payments...
Homebuyers are stretched pretty thin trying to make payments on a $1.5 M mortgage, and lowering interest rates by 0.5% will not help lower payments by that much, esp. since many of them locked into fixed rate mortgages.... $ISHARES S&P/TSX CAPPED REIT IND ETF UNIT (XRE.CA)$ $VANGUARD FTSE CDN CAPPED REIT INDEX TR UNIT (VRE.CA)$
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Nekrosis : Unpopular opinion: If you paid that much for a house, it's kind of your fault. There are tons of cheap houses everywhere.
Bravo Jordan OP Nekrosis : Hey Nekrosis, you've got a point, but are you suggesting that everyone should just settle for a cheaper house, regardless of location or quality? I mean, I guess if you're happy living in a cardboard box under a bridge, more power to you! But seriously, some people have higher standards and are willing to pay for them.
And let's not forget, locking into a fixed-rate mortgage can be a strategic move, especially when interest rates are uncertain.
Sure, a 0.5% drop might not be a huge windfall, but it's better than nothing, right?