Financial experts in Canada are discussing potential strategies for navigating uncertainties brought by the incoming Trump presidency, particularly concerning the impact on inflation and mortgage rates. Some advise considering five-year fixed-rate mortgages to avoid rate fluctuations during Trump's term, while others suggest restructuring existing mortgages for potential savings. The article also highlights the importance of conservative financial planning assumptions in light of potentially volatile market conditions.
If U.S. president-elect Donald Trump ’s economic policies result in higher inflation, it’s possible we could end up with higher mortgage rates here in Canada. Trump speaks at a campaign rally in Kinston, N.C., on Nov. 3, 2024.
Mr. Merson said three-year fixed-rate mortgages have been the most popular lately because they have lower costs, but he added that their advantage over the five-year rate is shrinking. With inflation risk easing, longer-term interest rates are coming down “A well-crafted financial plan uses conservative assumptions regarding the rate of return and inflation over the long term,” wrote Tina Tehranchian, a senior wealth adviser at Assante Capital Management who was recently appointed to the Order of Canada. “As long as you are on track to achieve your long-term goals, there is no need for you to chase short-term returns.”
Wendy Brookhouse, founder and chief strategist at Black Star Wealth, said she develops a spending plan for clients as part of her planning process. Ms. Brookhouse suggests people ask three questions about a purchase: is it worth it, do I have to buy it right now and am I buying it for the right reasons?” I find these three questions help them understand whether it is worth going off plan for something,” she wrote.
Trump Mortgage Rates Inflation Economic Policy Financial Planning
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Stock Futures Rise as Investors Await Economic Data and Trump PoliciesU.S. stock index futures edged higher on Friday, anticipating economic data and navigating potential policy shifts under the incoming Trump administration.
Read more »
Alberta Business Leaders Warn of Economic Harm From Transgender-Focused PoliciesAn Alberta economic development group warns that new provincial policies targeting gender identity could harm the province's economy.
Read more »
A question for Ottawa’s fall economic statement: to grow or share the economic pie?Finance Minister Chrystia Freeland will release the Liberal government’s fall economic statement on Dec. 16, the Minister announced Monday
Read more »
Stephen Miller Stresses Trump Will Enact ‘Mass Deportation’ Policies On Day OneNick Visser is a senior reporter on HuffPost’s breaking news team, covering the environment, U.S. politics and world news. Originally based in New York, he now lives in Sydney.
Read more »
ECB cuts rates a quarter point amid concerns of tepid growth, impact of Trump trade policiesFRANKFURT, Germany (AP) — The European Central Bank has cut rates by a quarter percentage point amid signs of weakening growth and concern about the impact of political chaos in France and the possibility of new U.S. import tariffs.
Read more »
Trump transition team plans sweeping rollback of Biden’s EV and emissions policies, document saysThe recommendations come as the U.S. electric-vehicle transition stalls and China’s heavily subsidized EV industry continues to surge, in part because of its superior battery supply chain
Read more »