Baytex Energy Corp T.BTE

BOC just go up 100 bps?

[BayStreetWolfTO]

EOM

[jleer42]

Yep, that was not expected.

[BayStreetWolfTO]

Very interesting but probably needed to get there. Housing still too expensive for the kids

[Cobalt]

Global market, Canadian cities rank some of the best in the world never going be for the kids just saying

[Re1ndeer2]

Housing more expensive with every rate hike.....Tiff Macklem very knee jerk

[BayStreetWolfTO]

I think what needs to happen is pricing collapse under high rates. Yes bad for those young people with mortgages now...but they probably overpaid with all these silly bidding wars. Interest rate hikes will force people to bring down price (if they need to sell) This could provide an opportuntity for some (with grandparents help) to grab a home at a cheaper price and wait out a rate reversal

[Antonyius]

The sale price will go down but that's offset by the higher mortgage payments. Only way it really benefits the young people are ones with enough cash to buy outright. Don't think there's a magic bullet the Feds have for housing crisis other than more supply like oil to be honest.

[BayStreetWolfTO]

Bingo, buy with cash.

[BayStreetWolfTO]

And the prescribed rate for family loans below current bank rates.

[TheWokeLemming]

They've been following the Fed, because in typical Canadian fashion we cannot think for ourselves.   At least with this they're getting a little ahead instead of lagging.  The BOC has done a poor job of protecting Canadians from inflation.   My opinion only.  

[jleer42]

I think it sets up an issue for the next rate hike. Both another 1% hike and a less than 1% hike can have issues. Also, today looks like a bit of a knee jerk reaction and not a steady hand. Dealing with inflation while the government refusing to reign in fiscal spending isn't easy.

[Hightowntrader]

hiking interest rates by 100bps in a signal to Canadians it's willing to take aggressive measures to get consumer prices under control. Screwing those with large amounts of debt to HELP them (when prices eventually get under control)...lol     Quite comical.

[BayStreetWolfTO]

Yes interesting USD back down under 1.3

[Eigen337]

This post has been removed in accordance with Community Policy

[TheWokeLemming]

And took our green day away. Another day of CJ stronger than BTE. 

[MoreCarbon]

Haha 2.50% still low Eigen337 - (7/13/2022 10:10:42 AM) RE:BOC just go up 100 bps? YES CONFIRMED !!! BOC BANK RATE is NOW 2.50% !!! They OVERSHOT by 25 basis points (to 100) from the 'EXPECTED' (?????) 75 basis points !!! This is my opinion only. Eigen337