Post by
deisman03 on Jul 31, 2024 1:31pm
BMO downgraded
BMO was downgraded yesterday due to impending "credit loss" issues from residential mortgages.
Not sure whether this is going to have a negative effect on the whole banking sector or not.
When I look at their perspectus sheets, it's very confusing and maybe for some, wishful thinking.
Time will tell all I guess.
Not sure what's propping up the price right now, doesn't make sense, other than that it's right around its long term average.
I've noticed the higher prices were low volume, maybe a bit of manipulation?
GLTA the good folks here
Comment by
flamingogold on Jul 31, 2024 3:54pm
"Not sure what's propping up the price right now," How about the fact that the rate tightening cycle is over. The pause is over. And soon the biggest economy in the world is about to drop rates in September for the first time in 4 years. https://www.cnbc.com/2024/07/31/powell-says-september-rate-cut-on-the-table-if-inflation-data-continues-to-cool.html
Comment by
deisman03 on Jul 31, 2024 9:16pm
Hopefully you're right, but IMHO, it's more wishful thinking. Those rate cuts aren't going to come fast enough for a lot of people. The only way the banks can smooth things out is to cut their own rates for such things as mortgages. Time will tell all GLTA the good folks here
Comment by
flamingogold on Jul 31, 2024 9:33pm
Canada is big banks first... it's no longer big oil. If Canadian banks get into the doo doo, we are all in trouble. You may make a bit on shorting bank stocks but you (and me) will most certaintly be negaively affected in other areas of our lives. Do not wish for it.
Comment by
rixpix on Aug 01, 2024 11:32am
Well said, Deisman. Totally agree with everything you said. Cheers!
Comment by
NoShoesNoShirt on Aug 01, 2024 11:47pm
30 year mortgages are great for shareholders, but not good for young citizens.
Comment by
Levent14 on Aug 05, 2024 8:52am
I'm in love with it. 10.000 shares gave $1.358,80 last month. If you buy home for rent, you should borrow $600.000 cad.for 30 years, ( if you put $200.000 cad down.) This $200.000 cad, bring to you $2.717,60 cad. in a month. This is a share buy and never sale.