Where Are Interest Rates Headed In 2022
In this episode, Scott Dillingham discusses the topic of interest rates and where they are heading in 2022. He explains the different mechanisms that affect interest rates, such as the prime rate and government bonds. Scott predicts that interest rates will likely increase in the future, but the impact may not be immediately felt by consumers due to seasonal promotions and discounts. He advises listeners to get their pre-approvals and lock in their rates to protect themselves from potential rate hikes. Overall, Scott believes that higher interest rates can be beneficial for the economy.
Takeaways
- (00:00) - Introduction and Goal of the Show
- (01:01) - The Question of Where Interest Rates Are Going
- (01:56) - Explanation of Rates and Their Adjustment
- (08:39) - The Impact of Seasonal Promotions on Rates
- (09:34) - Understanding Fixed Rates and Their Determination
- (13:21) - The Effects of Rate Increases on the Market
- (15:15) - Advice on Pre-Approvals and Rate Lock-Ins
- (18:29) - Conclusion and Invitation to Join the Real Estate Investor Hub
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Takeaways
- Interest rates are influenced by various factors, including the prime rate and government bonds.
- The Bank of Canada is considering raising the variable rates, while the government selling bonds may increase fixed rates.
- Consumers may not immediately feel the impact of rate hikes due to seasonal promotions and discounts.
- Getting a pre-approval and locking in rates can provide protection against potential rate increases.
- Higher interest rates can be beneficial for the economy.
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