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Mortgage Broker News | 29 Sep 2016, 08:15 AM Agree 0
Two big banks have released long-term economic outlooks. This is what brokers need to know
  • Rob Campbell, Broker Financial Group | 30 Sep 2016, 12:29 AM Agree 0
    We're in a hold pattern for a decade. No fiscal stimulus can help our GDP when other countries aren't buying our goods. The dollar is less than stellar, oil will take a while to climb, and our Federal government is taking selfies. So bank on Insurers increasing premiums or making us qualify on a lower amortization. But rates? Pre will stay sub 3% for another 5 years.
  • Rob Campbell, Broker Financial Group | 30 Sep 2016, 02:21 PM Agree 0
    We've entered a flat/negative growth pattern for the next decade.
    Prime is not going to move for another 5 years.
    These crystal balls that we all pretend to use are missing one thing: the middle class and spending.
    The boomers are sitting on their wealth, they don't need to spend.
    Millennials are now second guessing home buying as prices skyrocket.
    Oil is still low.
    Federal and provincial spending is at an all time high, which means...oh that's right...more taxes on the middle class to pay down the debt.
    China's residential market gained 32% YoY in August. You wanna talk about bubbles?
    Mark my words, Prime will lower again. We'll see 2.5% before Q1 of 2019

    Signed, The Rob
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