Bank of Canada lowers interest rate to 4.25%
- Thread starter Beaupre1
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- Aug 29, 2007
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QUOTE (Beaupre1 @ Dec 4 2007, 03:46 PM)
Will this kick the market back into gear or not have much of an affect?
Only time will tell.
I do not think that it will drastically change real estate market because it is not that big a difference. For variable rate martgages it came down 0.25% which is very little. For fixed rates, as we know banks are NOT in rush to lower rates. So, it should be very little difference just from rates change point of view.
As Quickstart says: "If 0.25% will make or break the deal, then it is not a good deal in a first place"
It will definetely be a bonus for my principal residence because principal portion will be a bit bigger and will shave few months of payments.
Cheers,
Boris
Will this kick the market back into gear or not have much of an affect?
Only time will tell.
I do not think that it will drastically change real estate market because it is not that big a difference. For variable rate martgages it came down 0.25% which is very little. For fixed rates, as we know banks are NOT in rush to lower rates. So, it should be very little difference just from rates change point of view.
As Quickstart says: "If 0.25% will make or break the deal, then it is not a good deal in a first place"
It will definetely be a bonus for my principal residence because principal portion will be a bit bigger and will shave few months of payments.
Cheers,
Boris