Page 41 - Sports Energy News, Cornwall, Issue No 136

www.sportsenergynews.com Issue #136 May 2024 41

By Brian Johnston another 20 to 30 bps would do it. The gap says there’s a wildcard that should be by international markets and help drive
Continued from page 6 between fixed and variable is too much, considered: that fixed rates continue to yields higher, he notes.
and the bond market had priced in a lot rise even as the BoC’s benchmark rate
than expected, markets still see the first of cuts that I don’t think will happen for falls. “People forget that interest rates are
Bank of Canada rate cut being delivered a lot longer than people thought.” The about perceived risk, and after the
at either its June or July rate meetings, average deep-discount 5-year fixed rate “Canada’s fiscal policy is in bad shape, budget release, risk in Canada, at least
though that can always change. available for insured mortgages (those and I think you could see government from an investing perspective, went up,”
Where could fixed rates go from here? with a down payment of less than 20%) bonds, and by default, mortgage rates, Sims added. “I could easily see another
Rate expert, Ryan Sims, who predicted is currently around 4.99%. pick up—regardless of [BoC Governor] 20 to 30 bps into Canada government
the rise, thinks fixed rates still have While fixed rates are widely expected Tiff Macklem dropping overnight rates,” yields over the next 12 to 18 months just
some room to rise. “I still see mortgage to resume their decline once Bank of he said. Rate cuts that are delivered too on risk—regardless of what overnight
rates going up, although I would think soon could be seen as a ‘panic move’ rates actually do.”
Canada rate cuts are imminent, Sims

By Michael VanderMeer Max Ming are the Certified Financial Planner for an advisor who has a transparent
Continued from page 6 Continued from page 6 (CFP), and the Chartered Financial fee structure, so you know exactly
Analyst (CFA). It is very important to what you are paying.
advisors will have your best interests
better mortgage rate than you can ask an advisor about their credentials What is your investment philosophy?
get at the bank. in mind; this is not always the case. and learn what qualifies them to Any financial advisor you work with
There are many factors that will There are many public tools to look provide advice and manage assets should have an investment plan for
up the qualifications of an advisor,
decide whether you should go to for you and your family. your money, that you understand
don’t just assume all are qualified.
a bank or a mortgage broker such How are you paid? completely, and believe. Ideally, you
as type of employment, length of it is important to inquire about Advisors can charge for their want to hear how this advisor views
the education and training any
employment, amount of debt versus services in many different ways, it’s long-term investing, the types of
professional would have. You should
equity, and source of down payment work with an advisor who has important to ask and understand any investments they choose for clients,
funds. A realtor should be able some sort of financial planning or fees involved. Fee structures with and that they invest for each client
to determine which route is best advisors include flat fees, hourly based on their individual needs and
investment-related credentials. Two
for you and steer you in the right of the most popular designations fees, trailer fees, fee-only, etc. Look analysis.
direction.

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