the world is unfolding as it should

It would appear interest rates have stabilized for the moment - the bank of canada would love to increase rates and slow our economy -but that would cause the loonie to rise and destroy our manufacturing sector...catch 22
i suspect the bank will hold rates steady and let the US drop rates - hoping we can then keep the loonie under control
time will tell

reality check

well - i guess i was ahead of my time. I predicted a credit crunch -but did not think it would materialize this quickly.
The past week has been a real stomach churner. But realize the world is not coming to an end.
it would appear now a slow down is upon us - a recession is possible.
Rates will likely stabilize and possibly drop
keep your head - pay down the debt as quickly as you can

greygoose out

time flies - its the end of july

time flies - and interest rates have held steady for a few weeks - will they go higher ????
Probably -but likely not more than 1/2 of a percent.
the canadian dollar will likely do the majority of the work for the bank of canada and slow the economy - but a disturbing item is the current retail sales which showed a dramatic increase.... to me that means our exports are expensive due to the dollar and the imports are cheap - so people are buying - but are they paying cash or using credit ??? My gut says credit and that will eventually cause a credit crunch - payoff debt - consolidate - reduce your monthly costs - batten down the hatches and await the coming storm - it may not be this year - but likely sometime next year we will see problems arise
greygoose out

back from san antonio

We just returned from the Kiwanis International Tournament in San Antonio Texas
What a great spot - if you get a chance to go and visit the Riverwalk - Go..its a great spot.
Hot - Humid
Now back to reality
Interest rates have moved up - but how far will they go ?
Prime increased by 1/4 of 1 per cent to 6.25 - and the bond market has priced in another increase in September - but i dont see interest rates skyrocketing.
Now is the time to consider either locking in - if you are nervous
or take Prime less .90 on a variable rate which would equal 5.35
in any event rates are not high by historical standards -
greygoose out

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