Robert McLister on Muck Rack

Robert McLister

Toronto, Ontario, Canada
Mortgage Columnist, The Globe and Mail and Founder, — The Globe and Mail
As seen in: The Globe and Mail
Covers:  Mortgage rates, mortgage regulations, mortgage advice
Doesn't Cover: Where are home prices going

Spying on Canada's best mortgage rates. Rate intel via @RobMcLister.

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Canadian mortgage rate analyst and journalist focused on mortgage news that impacts consumers.

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@RateSpy — 4,555 followers, 1,929 tweets

The fate of NAFTA sounds like a boogeyman for rates (if you listen to economists). But even if @realDonaldTrump tears up NAFTA, that doesn’t mean: * Free trade is dead * Hefty tariffs on most Canadian goods * Canada won’t benefit from America's rising economic tide
RT @RyanBoughen: @RateSpy @FinanceCanada AKA devastated the pockets of consumers. Refinance isn’t a 4 letter word.
Seeing today’s rate updates confirms one thing loud and clear: @FinanceCanada's default insurance changes have ***devastated*** many non-bank lenders' ability to compete on shorter-term fixed mortgages, especially if they're refis.
"..Fixed rate borrowers that are refinancing over the next year are currently paying mtg rates of 3%, on average" "..Borrowers refinancing their mortgages in 2021-2022...face the largest [potential] 'payment shock' [their rates are in the 2.5%-2.7% range]" —National Bank Fncl.
Rate hikes may now slow the economy “about 50%” more than they once did, suggests Poloz.  So, effectively, Canada's key lending rate is already “up” ~112.5 bps since July 12.
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