Interest Rates…… Up… Down… Stable? In 2014 and beyond
September 14 the bank of Canada announced their rate was
staying at 1% so what does that mean for you and your mortgage.
It is a good thing.
We always want to know what is in the future
so read on.
For years I have been getting a financial email newsletter
called Mauldin Economics. This guy is an incredibly deep thinker about the
world economic situation.
This past week he talked about some of the rates around the
world and in reading that I believe we are not going to see an increase in
rates for a few years yet.
For example the yield on French bonds went negative in other
words you have to pay to own a French bond.
The 2 year Irish bonds yield 0.004% and the European Central bank
dropped their rate from 0.15% to a new lower rate of 0.05%
With this going on in the world the assumption is interest
rates and therefore mortgage rates will be continuing to hold steady for the
foreseeable future.
Until next time
Clark Hitchcock
Your realtor of choice.