Seems no one knows where we are headed

Real Estate Agent with iPRO REALTY LTD.,Brokerage

Where are we heading? How are we going to find a solution to a problem whose extent is not known. Everyday, in Canada, we get to hear contradictory news. One day the PM says our economy is stronger than other nations facing recession and at the same breath the Finance Minister says that the economy is in bad shape and we haven't hit the bottom.

I guess we have to stop listening to the politicians and start listening to Bank of Canada that admits that ecenomy is much worse than thought out to be and incidently dropped overnight lending rates by another 0.25 basis points. A couple of banks have already announced that they will match the cuts. Prime rate now stands at 2.25%. For people who took Variable mortgages sometime ago when the rates used to be "minus prime", they will see thier amortization drop further. I expect that closed rates will also drop soon.

Posted by


Rajeev Narula, Broker, REALTOR®

iPro Realty Ltd.,Brokerage

30 Eglinton Ave. W., Unit C12

Mississauga, ON  L5R 3E7

Bus: 905-507-IPRO (4776)

Mobile: 416-648-6144

Fax: 905-507-7338


Mobile site:  

Comments (0)