Several weeks ago Canadian economists were predicting a possible 0.25% increase in the Bank of Canada rate this September with a total increase of 1% by the end of 2012.

BUT NOW.....

... the US is in crisis & it appears their economic recovery is not happening as they hoped. In the past week our economists have started saying they do NOT expect the Bank of Canada to raise their overnight lending rate.  In fact, they think the Bank of Canada may even decrease their rate if we need to encourage our export business.    

SO.... Should you lock in your variable rate mortgage?  Should you pay out your existing mortgage with the huge payout penalty to take advantage of the low rates?

Call me.  Let's take a look.  There no cost in exploring your options!

Be well

Liz