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Financing, Mortgages and Insurance What options are best for you and your situation?


View Poll Results: What BOC Prime Rate will be in 15 Months
1% ( No Change) 6 30.00%
0.25% ( Rate cut by 0.75%) 0 0%
0.5% ( Rate cut by 0.5%) 6 30.00%
2% 3 15.00%
2.5% 1 5.00%
3% 4 20.00%
Voters: 20. You may not vote on this poll

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  #1  
Old 2015-01-16, 01:39 AM
imagine imagine is offline
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Default Mortgage Rates Prediction

HI Guys,

Just reading news and getting all different kind of opinions on where the Interest rates are heading. Just wanted to get what the forum members think on Interest rates will go in the next 15 Months. Please submit your views.

Last edited by imagine; 2015-01-16 at 01:44 AM.
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  #2  
Old 2015-01-16, 11:13 AM
walter8299 walter8299 is offline
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I strongly believe there is going to be no change for now (in the next 12-15 months). My friends who are in the finance field agrees as well. Even if there is a change, it will be a very small increase to test water. They just cannot afford to make a big change and throw everyone off the cliff. However, we should be prepared for some bigger changes in late 2016 and 2017 when you see tons of condos closing at once

Most likely they will tackle the housing market hotness using some clever mortgage rules to slow it down. After all, they don't want the real estate market to plunge, they just want to cool it.

An incresae in rate would hurt those living house poor the most. Just cut down on beers and timmies, more cook-at-home instead of dine-out, you'll probably save a couple hundreds to support your mortgage. In fact, the lower gas price today, it should help people build up some savings today for the rainny days. For myself, I am saving close to $300 a month at the pump a month with the lower gas price, my rainny day funds just builds up faster
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Old 2015-01-16, 12:35 PM
imagine imagine is offline
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Thats what i am thinking too Walter however given the drop in Oil prices drop and US economy going stronger they will be increasing soon and Canada historically has followed US in terms of Interest rate changes.
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  #4  
Old 2015-01-16, 01:24 PM
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GregS GregS is offline
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Issue I am having right now as a business owner is a lot of the stuff I put together is priced in US dollars. I've had to add 10% to everything in the last month and that's cost some sales. I've done a few proposals in the last month in USD instead of CAD because the exchange rate keeps jumping around.

What I am getting at is things are going to cost more. So while gas is less expensive, everything else is going to go up because of the exchange rate.
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  #5  
Old 2015-02-02, 02:20 PM
Westy Westy is offline
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I'm voting for an additional rate cut to 0.5%, though not sure how long it would stay there.

I gather (without referencing any sources), that there's belief that BoC will decide to lower rates one more time.

We close around the end of March. I doubt that they would cut again so soon at the March 4th meeting. We still might lock in for 5 years though.
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Old 2015-03-17, 10:42 AM
krime krime is offline
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BMO just lowered it's 5 year fixed rate to 2.89% today.
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Old 2015-03-17, 11:36 AM
jeffjc jeffjc is offline
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I've been hearing a rise for years. It hasn't happened, it keeps going down. I don't think anyone can really say, it's all just one big guess.
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Old 2015-03-23, 01:31 PM
patrob patrob is offline
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Quote:
Originally Posted by jeffjc View Post
I've been hearing a rise for years. It hasn't happened, it keeps going down. I don't think anyone can really say, it's all just one big guess.
I agree but sure is nice to be at 1.95% variable
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