Thursday, March 3, 2011
Direction Of Canadian Mortgage Rates
We are seeing a new direction in interest rates or maybe it is what always happens? We are now seeing the fixed rates drop lower again as the price of oil, gold rise up. This setting up for another year of up/down fixed rates and some minor increase in the prime rate. This is what has been happening since i have been in the business 17 years ago. The rates go up and they go down depending on many nurmous factors. The main two factors to follow in my opinion is the price of oil and the unemployment numbers in Canada and the US. Those can give you some insight on what direction rates will be heading in the next 90-120 days. Outside of that time frame, is a guess and of course this is subject to change at anytime.