Bank of Canada: DESTROYS Variable Rate Mortgage Holders!

Bank of Canada: DESTROYS Variable Rate Mortgage Holders! The Bank of Canada has hiked interest rates to 4.75% taking me and the bond market by surprise. Yields have absolutely surged to near-new highs. Variable-rate mortgage holders are in a risky position and even the Bank of Canada is worried about debt loads. Using broken measures they hiked the interest rate anyway. Don't fight the Bank of Canada as a bull trap in the housing market and real estate market are in full swing. Will there be a recession and cuts by the end of 2023?

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You won't hear this on mainstream news outlets like City News, CTV News, CBC News, and Global News. You won't hear real estate agents or mortgage brokers making these comparisons either.

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Sources
https://www.cbc.ca/news/business/bank-of-canada-fsr-1.6847611
https://ca.finance.yahoo.com/news/bank-of-canada-hikes-another-25-basis-points-bringing-rate-475-140919643.html
https://www.marketwatch.com/investing/bond/tmbmkca-05y?countrycode=bx&mod=watchlist_ticker
https://ca.finance.yahoo.com/quote/CADUSD%3DX?p=CADUSD%3DX
https://www.bankofcanada.ca/2023/06/fad-press-release-2023-06-07/

#BankofCanada #InterestRates #Recession

0:00 - Bank of Canada hikes rates 25bps
0:30 - Mortgage rates
1:00 - CAD/USD gaps up
1:55 - Yield curve inversion
2:25 - Bank of Canada statements
3:10 - QT continues
3:30 - Don't fight the BofC in the housing market
4:40 - Debt warning for variable rate holders
5:20 - Government manipulation
6:55 - Strong economy? wait what?
8:10 - Jan GDP numbers manipulated
8:40 - Household debt and banks