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Mortgage Broker News | 22 Jul 2015, 08:50 AM Agree 0
The Bank of Canada handed brokers a gift with its move to cut the overnight rate, but mortgage professionals are having trouble finding the usual uptick in refinances.
  • kac | 22 Jul 2015, 01:38 PM Agree 0
    i for one can't see where the interest rate reduction will help the economy move forward,if anything possibly regress. Interest rates have been at an all time low for a few years and every time another rate cut is announced the federal govt comes up with yet more innovative ideas as to how to make secured lending harder and harder to get to and more people more more reliant on living on line of credits and visa's which by the way are just as easy to access as they were when the 0% down mortgages and 40 year amortizations were around or utilize their equity by having their mortgages taken over by the sub prime market until such time as the equity is no longer there and their home is taken over. My guess is the feds don't seem to think there is a problem there? Back 8 or 9 years ago when rates were double what they are now the economy flourished and Canadians were working. I understand there are also other factors that determine the economic factors however i dread thinking about the future our next generation has to look forward to.

    just my thought.
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