Trump presidency has Canadian real estate watchdogs anxious [Video]

Real estate experts have noted that the results of the U.S. presidential election will likely have lasting impacts on Canadian mortgage rates. 

Researchers at Wahi — a Canadian real estate organization — have noted that Donald Trump’s second term in the Oval Office will likely dampen borrowing costs within the Canadian economy. 

Specifically, if Trump follows through on his ‘America First’ policy a 10 percent tariff on imports to the U.S. would become a likely reality. 

If imposed, these tariffs would affect the Canadian economy by reducing exports and impeding growth.

If this occurs, it is theorized that the Bank of Canada could slash the overnight rate (the key interest standard in Canada) to balance the domestic economy.

In Canada, variable mortgage rates (loans with no fixed interest) are directly impacted by the overnight rate.

These would then would likely plummet as a byproduct of imposed tariffs.

Fixed rates (loans …