Quote:
Originally Posted by twdm
I'd probably go with another variable. Given that the feds don't plan to increase rates for a while, it doesn't give the BoC much wiggle room to raise rates.
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i wonder about this. bc next year the US will raise rates (unless something totally unexpected happens), which will kill the CAD if the BoC doesn't follow suit, and i'm not sure the BoC wants that (personally, i'd want that all day long as we have commodities, and need to restart our manufacturing economy).
then again, rates are so ugly low, i'd potentially see what a 10 year is, and if i can afford it, lock in knowing that in 5 years, chances are my 10 year will be a bargain...
but then again, i'd never have a mortgage in canada, too many risks (no 30 yr mortgages, huge fees to break mortgages)