Mortgage rates continued their climb past the 7% threshold this week, sidelining affordability-sensitive buyers in their wake.
The uptick in rates was a sour note for would-be buyers hoping to get into the spring market, forcing some first-time and repeat back on the sidelines.Any hope of seeing rates stabilize will be contingent on inflation, said Jiayu Xu, an economist at Realtor.com. While mortgage rates are partially to blame for the lull in demand, limited supply of homes on the market is a big factor. There’s still more demand than there is supply, keeping home prices from edging down.“The jump in mortgage rates has taken the wind out of the sails of the mortgage market,” said Bob Broeksmit, CEO and MBA president.
Canadian Utilities stock is down 23% in the last year. Even if it wasn’t down, it is a dividend stock worth investing in. Here’s why. The post Here’s Why Canadian Utilities Is a No-Brainer Dividend Stock appeared first on The Motley Fool Canada.Unifor president Lana Payne has a simple message for Bank of Canada governor Tiff Macklem — slash interest rates, and slash them now.