Lethbridge Real Estate - 5 Year Fixed Interest Rates 3.09%
As a result of the declining and suffering economies of the world, the Canadian economic recovery will be slower than anticipated by the Bank of Canada. With the US announcing this week that they will hold interest rates low for the next couple years (copying the statements made by Bank of Canada 2 years ago) has sent a strong sign that things will remain as is for the time being. With that news, the market in Canada is also held back and our interest rates will also be held down for the same period of time. The direct result is that the Banks and Mortgage Companies in Canada are looking at decreasing the spread between the variable rates and the fixed rates.
This week we have seen the fixed rates adjust lower, with at least one institution offering a 5 year fixed rate product for 3.09% (the lowest I have ever seen and possibly the lowest any any of our lifetimes). Of course this is not necessarily the best mortgage product for every Lethbridge real estate buyer or for everyone who is looking to refinance their Lethbridge real estate, but it is a very low rate and allows a Lethbridge homeowner to save money each month which can be used either for investment purposes or to accelerate the payment of debts. (something I highly recommend).
I personally am planning on refinancing my own Lethbridge home before the end of the year. I am simply waiting for interest rates to bottom out and them will be using my leverage to eliminate all debts. It is a smart strategy and allows you to eliminate any high interest rate debts or move money into better yielding investments. I am sharing this strategy publicly with my friends, family, clients, heck even my Lethbridge dentist needs to take advantage of this opportunity.