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Mortgage Broker News | 10 Oct 2013, 12:00 AM Agree 0
Brokers and their clients, as reluctant as they may be, may owe tea partiers in the United States a vote of thanks as their antics are expected to lower fixed rates in the short term in Canada.
  • JSydneyH | 11 Oct 2013, 07:33 PM Agree 0
    Great panel. Unfortunately, I'm still not convinced that low interest rates are not our new norm. Sure, we can talk about historical norms for interest rates, but the state of the global economy is not the same as it has been historically. If countries like Ireland, Greece and Portugal can throw the world economy into a tail spin - if countries like China continue to manipulate their currency - if the stated goals of the Federal Reserve remain constant, then we may never see a return of historical interest rates.

    This isn't our grandfather's world anymore - and I believe we are writing our own history.

    We only have to look at the failure of Canadian businesses to invest in themselves over the past several years when interest rates were exceptionally low to realize things aren't what they seem. Governments at all levels are cutting back on what they spend, businesses have not yet opened up the purse strings and the Canadian consumer has been chastised by our Finance Minister for spending borrowed money when interest rates were low. Who is going to get Canada out of this recession? Business hasn't and the government lacks the will to do so.

    I'm not convinced that we're out of the woods yet.
  • Gavinda | 15 Oct 2013, 01:44 PM Agree 0
    7 & 10 yr fixed terms are the way to go with rates so low!
  • Gavinda | 15 Oct 2013, 01:46 PM Agree 0
    7 & 10 yr fixed terms are the way to go with rates so low!
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