Canadian Banc Corp T.BK

First rate cut in 4 years expected tomorrow

[flamingogold]

This should bring relief to stressed mortgages and debt heavy corps and individuals. After 10 hikes, a 1/4 pt cut does not move the needle that much. But, the direction is clear... rates are coming down. A full point cut over the next year is reasonable.

[mouserman]

Maybe in Canada... The numbers: Mortgage rates rose for the second week in a row, despite signs of a slowing U.S. economy. The 30-year mortgage inched up to the highest level since May 10. The increase in rates caused the market composite index — a measure of mortgage application volume — to decrease in the past week, according to the Mortgage Bankers Association (MBA) on Wednesday. 

[flamingogold]

Not just "in Canada".... high odds the EU will cut tomorrow. The US will be last maybe Nov- Dec. They are not going to wait until a recession hits to cut.

[flamingogold]

As predicted, Canada starts the cut. Probably one more next month. Once central bankers pivot, it's rarely one and done. Tiff is leading the G7. EU cuts tomorrow. Remember just over a year ago all the fear mongering about bank collapses and economic malaise. Never happened and these cuts are getting ahead of any potential recession.