Canadian mortgage renewals will weigh on economic growth: Deloitte

Deloitte Canada's latest economic outlook suggests that the pace of interest rate cuts is expected to increase in 2025, but this may not be sufficient to shield many Canadian homeowners from the impact of impending mortgage renewals.

The forecast, released on Wednesday, predicts a 1.2 per cent growth in the overall real gross domestic product for 2024, slightly higher than the previous estimate of 1.0 per cent. However, Deloitte Canada has revised its expectations for 2025, now projecting a growth of 2.6 per cent as opposed to the previously anticipated 2.9 per cent.

Global's Anne Gaviola has more on what the world’s largest financial services firm sees on the horizon for the Canadian economy and household budgets.

For more info, please go to https://globalnews.ca/news/10587328/c...

Subscribe to Global News Channel HERE: https://rumble.com/c/c-6465483
#SuperfastNews #GlobalNews #GlobalNational #Newfoundland