A brief one this week as part of your Kingsmill Wealth Management Group is at a corporate RBC Retreat.

 

Some might say it’s a meeting with “Mr. White” as Avril and I are with our RBC partners on a Ski Day in Collingwood.

 

Over the last few weeks, we’ve fielded a lot of calls on the direction of interest rates: and its impact on many considerations that involve our finances and planning, savings investments and spending going forward. Of course, this week the Bank of Canada announced another 25 basis point rise in rates. Some have asked about what we think is going to happen to mortgage rates in the mid and longer term: and whether they should lock in at current rates, or “gamble” that perhaps in the next 12 months rates might come down. This also leads to discussions about: “might I consider selling my house now”. Or the flip side: “is this a good time to be looking at buying a home”. At the same time, others have asked: “should I be buying some GIC's at this rate, or wait for them to go even higher?”

There isn’t a one size fits all answer to these considerations, and as we go through planning sessions, and modeling different scenarios with clients to come up with answers, or at least help understand the implications of choosing one path or another: it should always be in the context of what is best for you, in your situation. We are going through a lot of this type of planning with many of our clients in the last while: if we haven’t reached out to you, or you feel there are planning queries that you’d like addressed, we are here to help, with a strong professional group behind us, and great interactive tools at our disposal.

 

So, enjoy the rest of the weekend. For sure my team the San Francisco 49ers are going to be booking a ticket to the Superbowl in two weeks…That’s not a “GIC rate guarantee”, but fairly confident in this prediction. We will tabulate all those who responded to our poll last week with predications on the market ...

Pardon the pun: “Ski you later: haha”…