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what are peoples thoughts on mortgage renewals right not?
5 year fixed at approx 2.89%
5 year variable at what was 2.49% (should now be lower)
is there any chance the BoC be lowering the rate in the next year or two? (crystal ball anyone?) what about raising?? i would think the last thing their going to do with a struggling CDN economy would be to raise it (hence they fact they just lowered it) but say oil goes back up (eventually) and our dollar starts climbing again (slowly) they're not just going to turn around and raise the rate?
obviously I'm over simplifying this and really don't have a good grasp of all the in's and out's, just trying to make an educated decision on my renewal which is up at the end of April.
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