Tuesday, June 7, 2011
Where Are We Heading For Mortgage Rates?
Well this week we have now seen the fixed mortgage rates drop down to new lows again. Along with the deep discount VRM mortgages back in style, borrowing costs are continue to get back to emergency levels that were in place in 2008. We are seeing this happen in my opinion due to the banks in Canada being flush with a lot of money. Well that is only one reason, the other ones are the US has not fixed the employment situation and Europe is struggling, China slowing down. This is all meaning that growth will continue to be a slow process. Without people working and having money to spend world wide we are not going to see inflation come back anytime soon. This is now a great opportunity for Canadians. We have a strong economy, low unemployment and banks that are willing to lend money at the lowest interest rates again! This is now our time to shine for Canada on the world stage.