interest rates move up ...but for how long ?

with the temperature hovering at minus 17 celsius (minus 30 with the winchill) the only thing heating up around here - are the interest rates.
Canada bond yields have increased and driven the 5 year mortgage rate from 5.09 to 5.30% - the question remains for how long ?
Bank of Canada Governor Dodge - maintains the economy will continue to pick up pace.....unless - the US consumer decides to batten down the hatches and the US economy slows - but he figures its a remote possibility...hello ....are you paying attention - housing sales in the US are down - the market is rocky - gold is on the increase and the US dollar is weak -.....I think there is more of likelihood the rates will drop as the US economy slows - but time will tell.. For the conservative borrower its still a great time to lock in low rates - for the aggressive borrower - the floating rate with a bias towards a 6 month front end load is likely the best - call us for details 613-563-5083 / bill