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- Jan 29, 2008
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http://www.bankofcanada.ca/en/fixed-dates/...ate_080910.html
The Bank of Canada raised rates again today, so variable rate mortgages and LOCs are about to go up. It`ll be interesting to see what the tipping point is for when it starts to really affect people`s attitude towards purchasing. Maybe it already has.
This will also put my choice last year of a 5 year fixed into the black shortly, as it was a 5 year, 3.69%, and the best variable I could get was prime +0.90%, which would now be up to 3.90%. We`ll see what happens in the next four years, but I`m starting to feel confident that fixed was the right move.
Any thoughts on what the BOC will do in October?
Michael
The Bank of Canada raised rates again today, so variable rate mortgages and LOCs are about to go up. It`ll be interesting to see what the tipping point is for when it starts to really affect people`s attitude towards purchasing. Maybe it already has.
This will also put my choice last year of a 5 year fixed into the black shortly, as it was a 5 year, 3.69%, and the best variable I could get was prime +0.90%, which would now be up to 3.90%. We`ll see what happens in the next four years, but I`m starting to feel confident that fixed was the right move.
Any thoughts on what the BOC will do in October?
Michael