Welcome to the middle of January - the eastern portion of Canada has endured the first major winter storm approx 15cm (6 inches) and the weather is currently minus 24celsius with the windchill (minus 11 fahrenheit).
The bank of canada has left the current bank rate constant this morning but mortgage rates are possibly on an upward swing - especially on the long end of the bond market rates.
the 10 year canada's have moved from 4.07 to 4.15 in the past week
and the 5 year has moved from 3.98 to 4.06
with current 5 year money at 5.09 and 10 year at 5.60 there is very little spread and the possibility exists for a move to 5.25 and 5.75% - but time will tell.
Inflation has scared some people - the government maintains it is low - but check your pockets it costs more for everything.....inflation is moving
stay tuned for further details
bill
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