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The conservative media is making a victim of the banks, and the liberal media is making a victim of the government. The real victim is the nation.

So, I get that this is necessary from the banker class to preserve wealth, but this also means that the average purchasing power of Canadians is going to continuously decrease.

All six major banks in Canada are predicting a massive increase in interest rates to counteract inflation. Money is worth less, so now they are asking to take more of it from you. We are headed straight towards a massive debt crisis and a completely fabricated recession.

Prices have been increasing because of a decrease in the value of the dollar, and now prices are going to increase again as Canadians cope with the rapidly increasing interest rates to counteract that devaluation of the dollar. The government devalued your money, and the banks, wh0 run the government are now using that as a pretext to steal from you.

Canadian Imperial Bank of Commerce, National Bank of Canada and Toronto-Dominion Bank ramped up their calls for the central bank to raise its policy rate by half a percentage point to one per cent at its April 13 decision. They join Bank of Montreal, Bank of Nova Scotia and Royal Bank of Canada in forecasting what would be the first 50-basis-point hike since 2000.

The consensus among Canadian banks, which emerged Monday after a quarterly survey of executives showed firms hitting capacity constraints amid deepening inflation worries, is even more aggressive than what’s expected in the market. Investors in overnight swaps are pricing in about an 80 per cent chance of an outsized hike.

Economists have been changing their rate forecasts amid tougher talk by policymakers around the world. In a March 25 speech, Deputy Governor Sharon Kozicki said the Bank of Canada will “act forcefully” to quell inflation, which is now rising 5.7 per cent annually — the fastest pace in three decades.

The new rate calls are a marked shift in the outlook for borrowing costs that will take many Canadians by surprise and represent a major test for an economy with one of the highest total debt burdens in the developed world.

https://financialpost.com/fp-finance/banking/big-canadian-banks-unanimously-expect-a-50-point-hike

This whole scenario could have been avoided if the government simply stopped spending money it doesn’t have. Raising interest rates sounds like it’s important, but it is going to unequivocally make the lives of Canadians harder. Especially mortgages are going to get more expensive.

All six of Canada’s big banks forecast a supersized rise and at last call the market was pricing in a 75% chance. The last time the central bank raised by half a percentage point was 22 years ago.

So what would that mean to your mortgage?

People in the business say new mortgage rates are already on the rise as bond yields price in the central bank’s anticipated increases.

LowestRates.ca expert Leah Zlatkin said fixed rates at Canada’s big banks are now between 3.5% and 4%. Lenders are also decreasing the variable rate discount from prime.

This marks a “real turning point” because posted rates are now high enough that homebuyers and homeowners looking to renew their mortgage with another lender will have to qualify at percentages above the current stress test, which is 5.25% or 2% above the offered rate, whichever is higher.

Mortgage rates have been so low that 5.25% has been the higher of the two in most cases since June 2021. But not any more.

“Many homebuyers are not aware of this nuance, and it would affect their affordability even if home prices were to slow down … over the next year. For those refinancing, a calculation above 5.25% may mean they’ll need to stay with their current lender because they cannot afford to be stress tested at a higher rate. This eliminates the opportunity to shop around for better mortgage rates,” said Zlatkin.

A higher stress test rate will kick in on mortgage rates starting at 3.26%, she said. While every case is different, she estimates that for every .25% increase above 5.25%, buyers can expect about $12,000 less in financing.

So someone with a household income of $100,000 with a mortgage rate of 3.25% would have a qualifying rate of 5.25%, and be able to get a mortgage of about $528,000.

But if your mortgage rate is 4% your qualifying rate would be 6%, and you would only qualify for a mortgage of $487,000. If your mortgage rate was 4.25%, the stress test rate would be 6.25% and your buying power would shrink to $475,000.

But what if you already have a mortgage, specifically a variable rate mortgage?

“Anyone with a variable rate mortgage should understand what their payment will be with a 50-basis-point increase next week, and they should budget for additional rate increases totalling 1-2 per cent for the remainder of the year,” said James Laird, co-founder of Ratehub.ca and president of CanWise Financial mortgage brokerage.

If a homeowner puts down a 10% down payment on a $800,000 home (the average home price in Canada in February was $816,439) with a 5-year variable rate of 1.15% amortized over 25 years the monthly mortgage payment would be $2,847.

If the Bank raises its overnight rate by 50 bps tomorrow that variable rate rises to 1.65% and the monthly payment to $3,019, according to Ratehub.ca’s calculator.

That’s $172 more per month or $2,064 more per year in mortgage payments.

https://financialpost.com/executive/executive-summary/posthaste-what-the-bank-of-canadas-coming-hikes-will-mean-to-your-mortgage

The money the banks are getting from us is worth less, so in order to deal with inflation, they need to take more of it from you to keep turning a profit. That is theft. That is usury.

The word usury has arrived in modern English to mean unreasonable interest upon money loaned, either formally illegal or at least oppressive. In the Scriptures, however, the word did not have this purpose but indicated simply interest of any kind upon money. The Jews were prohibited by the law of Moses to take interest from their brethren but were allowed to take it from foreigners. The prohibition grew out of the agricultural status of the people, in which ordinary business loans were not needed and loans, as were required, should be made only as to friends and brothers in need. Usury is also defined as the practice of mortgaging land, sometimes at exorbitant interest, grew up among the Jews during the captivity, in direct violation of the law. (Leviticus 25:36-37Ezekiel 18:8-17)

https://www.christianity.com/wiki/christian-terms/what-is-usury-what-does-the-bible-say.html

The Jews that run our banks see it to be completely acceptable to charge exorbitant interest on loans to the gentiles. According to Christian law, it is not permitted to give a mortgage, or to provide exorbitant interest on loans.

While it is reasonable to use small amounts of interest to incentivize paying off the loans, interest rates when they reach a certain level serve in effect as slavery.

In the Old Testament, the Israelites were forbidden from charging “usury,” or interest, on loans to fellow Jews (Deuteronomy 23:19), but they were permitted to charge interest on loans to foreigners (Deuteronomy 23:20). A mention of this usury law in Leviticus 25:35-38 makes it apparent that it applied to loans made to fellow Israelites who were in poverty. Having to pay back the loan with “usury,” or interest, would only put them further into debt and was not beneficial to the economy. Loans to foreigners, however, were considered international business and approved. This law served as a reminder to the Jews that helping those in need is something that should be done without requiring anything in return.

Most of the loans we know of in modern terms come from banks, and the Bible doesn’t speak much about this. Although the Bible does not explicitly forbid the charging of interest, it does warn against becoming too concerned with money, teaching us that we cannot serve both God and money at the same time (Matthew 6:24). We are cautioned that wanting to be rich leads to despair and that the love of money is the root of all kinds of evil (1 Timothy 6:9-10).

Furthermore, God’s teaching includes a caution not to profit off the desperation of the poor. “Sharks” who extort the impoverished in the time of their distress will not relish their plunder for long: “He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor” (Proverbs 28:8, KJV).

https://www.christianity.com/wiki/christian-terms/what-is-usury-what-does-the-bible-say.html

The conservative media is making a victim of the banks, and the liberal media is making a victim of the government. The real victim is the nation. These globalist Jews see it as completely tolerable to enslave us with debt to enrich themselves because we are not “God’s chosen,” despite them relinquishing that title when they had God killed on the cross. Through Christ, all of us that put faith in him are Israel, the people of God. There is no legitimacy to usury. They genuinely believe they have the right to steal from us because they are “superior.”

It is in the self-interest of the banks, in order to preserve their profits to increase interest rates as money is devalued.

It is planned and intentional – they intentionally make our lives impossible to pay for outright. Owning property is effectively impossible without taking out loans from Jewish banks. Why is it that they want us to be renting or paying usury? So that they can permanently extract the wealth of the nation without consequence. They are literally enslaving us.

The increase of housing costs for example, is intentionally planned as Jewish megacorporations like Blackrock buy up land to create a permanent renting class.

“You will own nothing, and you will be happy.”

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