Hi All
rates are stable at the moment and it looks like we will see another drop in the prime rate on January 20th when the bank of canada sets their rate.
currently the prime is 3.5% and variable rates are available at prime plus .50 to prime plus 1%
5 year money is in the range of 4.65 - 4.99%
the market has slowed down and we are constantly being bombarded by news of job losses and doom and gloom.
Now is the time to prepare for 2009 - refinance - make sure you have good liquidity and can carry your debts througn 2009 and 2010.
we may see a bounce but i dont see a major bounce in the economy until late 2010---- but that is just my humble opinion - would love to hear what you have to say....
greygoose out
ps. on a 15 day cleanse program -damn i miss coffee / wine and my greygoose..........
Sunday, January 11, 2009
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