Bank of Canada Rate Hike Odds Just Jumped to 87%

In just a few days, the market odds of a Bank of Canada rate hike on October 28 went from roughly 35% to 87%, and several of Canada’s big banks changed their forecasts along the way. We break down what triggered the shift, why some forecasters now expect back to back increases, and why choosing between a variable and fixed rate mortgage just got a lot more complicated. We also look at CMHC’s warning that today’s slowdown in new construction could create tomorrow’s housing shortage, what the foreign buyer ban set to expire on January 1 could mean for preconstruction sales, and whether builders are building what families actually want. Plus, we share what local agents told us on an Ottawa open house tour about buyers who love a home and still won’t make an offer, and why some homeowners are pulling their listings instead of dropping the price. We also bring back takeaways from the Mortgage Professionals Canada national conference in Calgary, where AI and a fast changing rate outlook dominated the conversation. 00:00 Introduction and Conference Insights 01:59 Market Predictions and Rate Changes 07:29 Impact of Rate Hikes on Borrowers 11:27 New Construction and Housing Supply Challenges 16:36 Foreign Buyer Ban and Market Dynamics 21:18 Current Buyer Sentiment and Market Trends 22:30 Future Housing Market Outlook 24:06 Mood Boosts Get in touch with us! Paul Stevenson - Mortgage Agent Level 2 CENTUM Financial Services LP Email: [email protected] Phone: 1-613-263-4543 https://www.paulstevenson.ca David Warren - Mortgage Agent Level 2 Referral Mortgages Email: [email protected] Phone: 1-613-686-6003 https://www.referralmortgages.com If you have a question or topic you'd like to hear us discuss send us an email at: [email protected] or leave us a comment below! New Episodes of the podcast are available on Wednesdays at 10AM on all podcast services and at www.theottawarealestatepodcast.com Brought to you by Referral Mortgages, PaulStevenson.ca, Guertin/Poirier Avocates Lawyers, BIG - Billyard Insurance Group, and A to Z Cleaning Expert.