Welcome to March 1st - the final day of RRSP season in Canada -bond rates are still drifting down and the 5 year is now 3.917 while the 10 year is 4.006..this should translate into lower interest rates over the next few weeks. The rates will not fall until the RRSP season is over - as we all know the banks make more money on the investment side than on the mortgage side...and while the RRSP season is in full form - they dont want to concentrate on mortgages - so rates are kept higher to slow the flow. Time will tell if we are correct - but with the recent drop in the bond market - the rates should return to the 5.09% for 5 years from the current 5.24% level.....or even lower...the next move will be to spur the spring real estate market -then a slow down in the summer until the fall.....lets see what happens....
greygoose
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1 comment:
Keep up the good work.
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