rates come down - update since March

Well we returned from the Masters - won by Trevor Immelman - as usual it was a great week.
we returned to see that most of the mounds of snow had disappeared - it looks like we will fall approximately 8cm short of the record.
interest rates are still softening on the short end - bank prime is 5.25 and likely to fall another quarter to one half of one percent this week.
the 5 year money is 5,29-5,49
lenders are playing interesting games by giving a bigger discount within the last 30 days - thus mortgage approvals are being switched between lenders 120 -90 - 45 - 30 days prior to closing.
never a dull moment.
it still appears we are heading for a recession - i still think the average consumer has far to much debt and will be forced to consolidate to survive within the next year.
time will tell
greygoose out.