Today I saw headlines regarding the Bank of Canada's rise of the national prime lending rate by .25%. All of these headlines were variations of the same theme like a coast to coast tsunami was heading our way. "Get set for...brace yourself for...my favorite was the Globe and Mail's headline this morning right out of The Book of Cataclysm... "The end is Nigh for low interest rate heaven." The more Nostridamus like the bold face headline, the more chance you will grab that paper on your way to work right?, or so the theory goes. In real estate on the … (3 comments)
bank of canada rate: Lock up your daughters and lock in your mortgage rates!!!
- 03/30/10 02:34 AM
The daughter remark was just to get your attention, and it worked. The following advise might be worth at least the cost of your family vacation for each of the next five years if you fit into any of these categories... . Are you planning to buy a home in the next few months? Is your existing mortgage coming due for renewal soon? Does your existing mortgage have a variable rate? We have been spoiled by low rates that for many seem status-quo but those who have been around a little longer remember double digit mortgage rates that meant little … (4 comments)
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