Home > Mortgage news > A 180 Degree Change in Interest Rate Views in Canada

A 180 Degree Change in Interest Rate Views in Canada


If you have been following my Blog, I said before I don’t believe interest rate will go up.  18 months ago they predicted interest rate would go up, 18 months later, rate still low.  Just a month ago they still said interest rate will go up AGAIN by the end of this year & for sure by next year.  Guess what, we will have low interest rate many more years to come.  I never listen to the Economists because I don’t believe they ever lived outside of N. America.  They have no clue what the rest of the world is like.  No, I didn’t know the recent US drama was on the way but based on the whole world economic climate, Canada being so close to US, I always said the chance we have interest rate hike is slim in my humble opinion.  Well, now we can expect 5 yrs term to be under 3%.  Alberta’s largest financial institution  has already slashed its 5yr fixed rate to 3.09% & other banks are expected to follow soon.

When stock market is as volatile as it is, real estate market usually do well except in the US & Japan.  Well,  of course gold now looks like will hit $2,000 or even $2,500.  When most of the world leaders are scratching their head trying to fix their countries’ financial problem, Harper on another hand is out on the road getting some business deal done for Canada.  I don’t know how many times I said this:  The more messy the world is, the better it is for a handful of countries in the world & Canada is absolutely one of the most popular ones.  Vancouver is among the most popular city for the rich from the Eastern World.

Is this a good time to buy? oh God, of course!  46% probability of a rate cut on Sept 7, 100% probability of a rate cut by year-end.  If you can’t afford to buy now, I don’t know when! Your ROI can’t be more attractive than now when u have no interest putting your money in the bank & possibly loss a chunk in the crazy roller coaster stock market!  Want to find out more re mortgage rate trends, go visit Canadian Mortgage Trends.com .

 

Tina Mak Personal Real Estate Corporation

Vancouver Radio Realtor AM1320

http://www.TinaMak.com

http://www.TinaMak.ca 温哥华中文地產網站

http://www.GenYrealestate.ca

604-412-5860

Empowering Knowledge To Make Sensible Decision

 


 

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