2009
The Term Deposit Price War: Its Impact on Mortgage Rates
Filed under: Interest Rates, Mortgages
If you can, I’d lock rates in now as they certainly won’t go lower. But rates generally are going to stay low for quite some time
Einstein marveled at the compound effect of interest rates for good reason. Over the life of a $300,000 mortgage you will pay over $360,000 in interest! When you are dealing with such big numbers the cost of getting it wrong can easily run over $80,
There is a lot of misinformation out in the market. I’m using this blog to provide a bit more perspective about why there is no need to panic about rates
With fixed rates having increased we once again look at mortgage strategies, but nothing has really changed from our previous recommendations. It is all about having a clear strategy and not wavering when confronted with irrational market panic!
Short term rates have not increased (and are not increasing) so it worries me when I hear everyone saying things like “rates are going up.” To be specific, only long-term rates are going up – and you need to consider your strategy accordingly.
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