Thursday, November 4, 2010
Canadian Mortgage Rates To Remain Low?
We saw another $600 billion being injected into the US economy today. How does this affect Canadian mortgage rates? First, this means the economy is still recovering which leads to no increase in in the interest rates. Second, it provides the safe knowledge that we are not going into a double dip recession. Thus means the money is flowing back into the stock market and out of the bond market which is where mortgage money is set in Canada. We now have a dollar at par, which will leave the Bank of Canada little room to increase rates. this is all good news as we are now heading into a very stable economy.Canada is one of the best economies in the world and us Canadians need to start believing.