lenders going crazy

why do lenders not seem to care whether they approve files or not ???? - rates are moving up and they are currently cherry picking the market, turning down anything that doesnt suit their fancy - its time to slow the process down - make sure all conditions are accepted prior to agreeing to purchase properties. The world is spinning much too fast.

summer ?...winter ? hard to tell

Well today the wind was cool and it felt like fall in the middle of June. The past week i lost one of my aunts on my mothers side at age 75 - far too young. Joanne has gotten her cast off and now has a walking cast - so hopefully we can return to some form of normality.
Rates appear to be topping out for now - July will be interesting as the bank of canada appears set on raising the prime rate -to ensure the economy cools down - perhaps a case of overkill - time will tell.
prediction for the next year - US dollar will drop the canadian dollar will stabilize around 95 - cold will top 800 - cash will be king.
liquidity crunch will cause rates to rise - especially for consolidation fo debts.
greygoose out.

rates go up up up up......

Well the mortgage rates have moved up 4 times this month and now stand around 5.8% for 5 year money up from 5.10 - a move of approximately 3/4 of a percent.
What will happen next ? - I suspect the lenders will try to move the rates up to 6% as I have long held lenders do not like lending money under 6%.
The canadian dollar considers to hover around 93-94 cents and rumours persist the bank of canada will raise rates by 1/4 at the end of July - I still question the reasoning since the dollar is slowing our exports and should be cooling the economy - the increasing mortgage rates should serve to slow the housing market and therefore all the subsequent spin off factors.
Time will tell - for now make sure you lock in rates for 120 days especially if you have a mortgage coming due in the next 4 months or are considering a purchase.
PAYOFF your debt - keep liquidity a priority - I believe cash will be king in the next year - dont be one of those people' -big hat no cattle......
greygoose out

sens lose

Well tomorrow will be a national day of mourning in Ottawa and in Canada - as the Sens lost to The Anaheim Ducks in 5 games - final score 6-2 ducks.
isn' t it a full moon soon ?...oh well - bond rates have been rising again - chances are the lenders will increase the mortgage rates again closer to 6% - the magic number.
How long will this last ? - who knows - its still time to lock in and go along for the ride - while reducing your risk.
greygoose out - please pass the roast duck...is that a metallic taste ?????