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

sens lose

Well tomorrow will be a national day of mourning in Ottawa and in Canada - as the Sens lost to The Anaheim Ducks in 5 games - final score 6-2 ducks.
isn' t it a full moon soon ?...oh well - bond rates have been rising again - chances are the lenders will increase the mortgage rates again closer to 6% - the magic number.
How long will this last ? - who knows - its still time to lock in and go along for the ride - while reducing your risk.
greygoose out - please pass the roast duck...is that a metallic taste ?????

rates move up - end of month - limit up...?

Once again lenders are increasing mortgage interest rates by as much as 30 bp to the 5.69% lever for 5 years. this was prompted by the hawkish talk of the bank of canada outlining they are likely to increase interest rates prior to the end of the year. The banks are jumping the gun to increase their spreads ...why ?....because they can !
time will tell if the bank of canada goes through with the increase - they are caught between a rock and a hard place - they have finally agreed there is inflation in the system, something we have all known - especially anyone who has a car, uses electricity, eats fresh vegetables, heats their home or pays property taxes. DUH>>>>> the bank is behind the 8 ball on this one.
The only tool they have is to control the bank rate - an increase will likely send the canadian dollar closer to parity with the US counterpart - which in turn will hurt our exporters - this could cause additional loss of jobs - and you cannot get those back in an instance - a credit crunch is coming - i am personally hoarding my cash - and reducing debt - i suggest you do the same......
gregyoose out - (where are the ice cubes and olives ?...my god have you seen the price of olives lately ????)