welcome to eastern canada in the spring - dark dreary rainy...with the hope of sunshine and flowers to follow. Off topic I was amazed to see researchers mentioning - they now believe low levels of vitamin d (sunshine) may be a main cause of the high levels of cancer in the northern hemisphere. I have recently had a dear friend diagnosed with cancer and you always wonder how everything will end up....it sort of puts a perspective on life...nobody gets out alive.
But in living we must realize - time is precious and we must enjoy our lives as best we can.
I am a conservative mortgage person by nature - and a risk taker in the stock market.
having played the market for over 35 years - i have made and lost fortunes - all because i believe it to be a game - my wife often says why dont you cash out...i reply - because its not my money - i am playing with other people's losses and at times they are playing with mine - i get a charge out of seeing the portfolio increase in value - i set goals each year and then try to reach them -always keeping in mind if the value drops below a certain level -i will take some off the table.- I realize i am a very small fish in a large oceans and the professional traders can wipe you out in an instant.- The same holds true for mortgages - lenders can provide ridiculously low rates at times to steal a deal and this is the state of market at this point in time. Some major institutions are playing 'silly bugger' by telling clients to get the file approved and then contact them. They then dont have to do the work and merely undercut the interest rate to steal the approval..this too will pass - but it is frustrating and we usually see this before the market slows......so if you are on a variable rate product keep your eyes open it may be approaching time to consider locking in......donot take the same risks with a mortgage as i would with the stock market - remember it is usually secured against your source of shelter.
Food for thought make sure you analyze and determine - how much risk are you prepared to consider on your decisions......interest rates go up and down - but if you can live with the mortgage payment - then set it and concentrate on paying it off as soon as possible. The interest rate you earn is the equivalent of a tax free investment - so if you are paying 5% it is likely the same as earning 6.5% interest and then paying tax to the government - in today's day and age - its not always easy to earn that return risk free......
greygoose out.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment