Tuesday, January 13, 2009
Canadian Mortgage Market In 2009
Since my last blog, we are seeing historic interst rate cuts from around the world. In the last 30 days the US has set there rate at Zero and the Bank of England now has the lowest rate since 1694! We are now in uncarted waters for prime rates and forecasting of the future. There does seem to be a concensious that rates will continue to be low and will be going even lower in Canada. This is good news for the consumer. We are now able to borrow money at historic low rates and then purchase items at discount prices. This is now a great opportunity to llok at how you can take advantage and move ahead in the new world.