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Blogging on real estate and life in Metro Vancouver.

News

Interest Rates to Fall Again

The Bank of Canada (BOC)cut it's overnight rate this morning and the banks are responding by lowering the rates on variable rate mortgages. Fixed rate mortgages on the other hand are tied to bond rates and Vancouver mortgage broker tells me that they have been adjusting lower in anticipation of this rate change by the BOC.

Bottom line, if you are planning to buy in the next little while you payments, just went down, or you could spend more money (I think I would vote for lower payments)


Matthew Collinge: Vancouver REALTOR®

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Posted: Wednesday, January 21, 2009 9:00 AM by Matt Collinge

Comments

mw said:

Hmm, sounds like good advice.  Especially going for the lower payments - always nice to have a little extra money for fun...

Here from Tanya

# January 23, 2009 4:47 PM

Urban Dweller said:

Yes lower payments are indeed a good thing :D

# January 24, 2009 3:17 PM

Matt Collinge said:

Judging from the traffic around Walmart this weekend I think I know where many are spending their extra $'s.

# January 24, 2009 6:08 PM

Ajit said:

Good suggestion.

# January 27, 2009 4:28 AM
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