Look out for these personal finance pain points in the U.S. election aftermath

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 60 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 62%
  • Publisher: 92%

Cent News

United States,Bond,Canada

Don’t let Trump’s win divert attention away from these key money matters

The rally for stocks and crypto following Donald Trump’s U.S. election win is a head fake that diverts attention away from several investing and personal finance pain points ahead.

Mortgage rates are well off their recent peaks, but still well above the level where many homeowners locked in several years ago. Waves of these homeowners will renew mortgages in the next 12 months, and they have to be wondering how much more they’ll be required to pay. Events in the bond market suggest further mortgage rate cuts aren’t imminent, a point worth noting if you’re on the housing market sidelines waiting for lower borrowing costs.

Without attention to government debt in the United States, it’s possible that bond yields could rise from current levels. The Bank of Canada and U.S. Federal Reserve will keep lowering their benchmark interest rates, with follow-through declines for variable-rate mortgages, lines of credit and floating rate loans. But bond yields are a bigger influence on fixed-rate mortgages, which happen to be a popular pick right now.

But Canada’s lack of economic competitiveness also contributes to dollar weakness. If a Trump government offers tax cuts to business and removes regulations, then we may see additional downward pressure on the dollar. Now seems a good time to buy some U.S. currency if you plan to head south this winter.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines