https://padlet.com/anthonyscavallari/wpdar4pe3a49btog by Anthony Sawicki - Cavallari en-us 2023-04-04 01:10:10 UTC 2026-01-25 17:54:18 UTC hello@padlet.com https://media3.giphy.com/media/GFIpUu2yP0C5UEN10L/giphy.gif anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2542979005 Welcome to this overview of mortgage rates in Canada and how the changes in inflation and the economy will either positively or negatively impact them. This will also go over Canadians current mortgage rates and their struggles.]]> 2023-04-04 01:31:23 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2542979005 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544336769 This video gives an overview of what a mortgage is and when you would need them. It describes the steps and processes are of getting a mortgage and how banks may vary in this process. It briefly goes over how payments for a mortgage may look and different rate types.

This video was selected due to its simplistic explanation while keeping it short and direct. I found the explanation of different types of mortgage rates helpful as I did not know there were different kinds let alone how they work. It also provided added information on how you could gain a profit from a house and your mortgage in a short period of time if someone will buy the house for more than your mortgage. ]]> 2023-04-05 01:12:22 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544336769 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544427389 This video gives an in-depth look into mortgage basics specifically in Canada. Unlike the previous video, this goes over mortgage insurance and when it is required, Where insurance is provided in Canada, Interest rates and how they are affected by either fixed or variable rates. It goes into detail about the differences and the pros and cons of each rate type. It goes through the differences between terms and amortization. There is an explanation of accelerated payments and why you should choose them. Describes types of pre-approval processes. Also goes over the best places to get mortgages.

This video was selected due to its layout of information and the detail it provides specifically for Canadian home buyers. I learned a lot about what accelerated payments are and how they benefit you due to the fact they save you money and help you budget better.

]]> 2023-04-05 02:20:16 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544427389 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544451017 This video explains what inflation is and how it works. It goes over different ways that inflation affects the economy and how the population spends and saves money. It then goes over interest rates and what their purpose is in regard to people borrowing and spending money and again its effects on the economy. Then it explains the butterfly effect of how raising interest rates can either work to lower inflation or increase it. It shows a direct correlation between inflation highs and lows with interest rates highs and lows.

The reason I select this video is that interest rates are a very big part of mortgage rates and what kind of affordability your mortgage will have. Since we are also trying to examine how inflation and the state of the economy affect mortgage rates it is important to understand the correlation between them and interest rates. When inflation is high, interest rates may be risen to match that in attempts to lower it. At that point, the economy is in a weaker state as people are spending less and also buying houses less. The opposite is true for low points of inflation where interest rates are also lower. ]]> 2023-04-05 02:40:58 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544451017 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544472440 This video goes over interest rates only and how they affect your monthly payments and how much you will be paying on top of your mortgage by the time you finish your payments. It goes over the specific difference between five, four, and three percents of interest on how much you spend in total.

This video is very important to understanding the concepts interest rates and how such a small increase in interest can cost you a vastly difference in the long term on money you have spent. It shows the importance of needing to be able to get a low interest rate as well. I before did not know that your monthly payment amount was comprised of your principal and interest amount and how each month one them rises the exact amount the other lowers keeping each month consistent in payments. The more years into your mortgage you are the less interest you actually pay as long as interest rates to vary to much. This may show incentive on a variable rate versus the stability of fixed rate. How inflation plays a roll in these rates will be show in the following.]]> 2023-04-05 03:01:25 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544472440 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544493360 This website is on the Bank of Canada's current key policy rate. This key policy rate directly affects the interest rates banks provide on loans. It explains why this rate is needed to be increased to lower consumption thus lowering inflation. It explains how in the last 12 months the policy rate has gone from 0.25% to 4.5%. It also states how inflation was at a 30-year high of 8.1%.

This website is important to understand why interest rates increase with inflation and how the state of the economy will either make you have affordable interest rates or not. It also explained that this brings higher variable and adjustable mortgage rates with it so each year in our current state mortgage rates are skyrocketing.]]> 2023-04-05 03:22:16 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544493360 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544496105 This website goes over in more detail how inflation affects mortgage rates. It explains again what inflation is but also how the pandemic contributed to the increase in its current levels. It explains how the policy rate does not set interest rates but banks tend to increase interest rates to keep up with the overnight interest rate banks have on loans. It explains how certain bonds are backed by mortgages and how interest rates rising increases their attractiveness to buyers.

This information is necessary to understand the full circle impacts of inflation, the economy and interest rates. This may give some understanding to buyers on why prices are the way they are and maybe an eye to how background investing works to determine the amount they will be paying. Similar situations with bonds and mortgages almost single-handedly lead to the recession experienced in 2008.]]> 2023-04-05 03:25:06 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544496105 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544515328 This site describes differences between fixed and variable rates and when in a high inflation you may want to chose one or the other. It also gives suggestion on which to potentially pick in 2023.

It is important to know that in times of high inflation if you previously had a variable rate you will be paying a lot more money and will be affected by increased interest rates than a fixed mortgage unless the fixed rated mortgage term ends during this higher period. When in high interest rate levels it may be better to get a variable rate because when rates eventually lower which over long term they do which is why variable tends to save more money. Where as in low rate levels you may wanna choose a fixed rate which may keep your interest rates lower through this peaks. Thus leaving you with more stability.

]]> 2023-04-05 03:46:14 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544515328 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544519651 This website takes a look at current prices for houses and the current interest rates and lets buyers know whether now is the time to buy a house. It also provides a slight forecast into the future and if it may be better to hold out.

This is important as knowing when to buy may save you hundreds of thousands of dollars. Currently prices on house are down to the lower buying but interest rates are higher so you may still end up paying more then if your just held out for a lower interest period. It is important to be aware of our current economic situation.


]]> 2023-04-05 03:51:24 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544519651 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544523064 This chart shows the inflation rate and the 30 year mortgage rate.

This chart directly shows how in times of high inflation mortgage rates follow and this history can help us understand and know what to pick for our future.

]]> 2023-04-05 03:55:38 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544523064 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544525037 This image shows the interest rates and the inflation rate.

This fully shows how the two are correlated and how one may lead to the other or be sued to combat the other]]> 2023-04-05 03:58:06 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544525037 anthonyscavallari https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544526183 1. What did you learn about your topic that surprised you the most?
How much money you lose based on a higher interest rate
2. Provide a real-life example of how this topic is relevant or interesting
for you.
My dad currently just had a massive hike on his mortgage rate
3. If you could pass on your knowledge to a family member or friend, what
do you think is the most important thing to pass on?
To wait out for a lower rate and choose vairable rates]]> 2023-04-05 03:59:38 UTC https://padlet.com/anthonyscavallari/wpdar4pe3a49btog/wish/2544526183