Predictions are fun to read but tough to get right. For example for the last 6 years I have heard predictions that rates will be going up “next year”. Some of these predictions were made by men with more letters behind their name then myself. I just goes to show that even the most educated have troubles getting it right.
- 1 – The Big Fix – The banks will not drop their prime rate in accordance with the recent 25bps discount they were given off the key lending rate from the government..
- 2 – The spring rate war is coming again – Just like the last few years BMO will advertise a low 5 year fixed which other banks will follow. We will see a newspaper article stating that this is the lowest rate ever offered to the Canadian public for the yet another year in a row.
- 3 – Rules are a Changing – We have been told time and time again we have too much debt. There is a perception out their in government that these low rates are not going to cause the general public to borrow too much money. I see the government putting in further restrictions on mortgage products in Canada.
- 4 – Prediction of all Predictions! – By the end of the year you will hear from a so called expert that rates will be going up in 2016. Eventually they will have to be right…just do not be so quick to believe them!
By Referral Mortgage Consultants*
“Click, Call, Chat – Award Winning Brokers”
1 – 32540 Logan Ave
Mission BCV2V 6G3
360-3033 Immel St
8387 Young Rd
Dave 604 897 2741 Jordi 604 615 1312
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*By Referral Mortgage Consultants – doing business as BRMC is: Verico Preferred Financing Inc / Verico Canadian 1st Mortgage Corp which have a co-brokering agreement and there is a common Mortgage relationship and are licensed with the Verico Dreyer Group. Mortgage ownership, that employees of both Mortgage companies may review, advise and help process the Mortgage files. That Verico Preferred Financing Inc & Verico Canadian 1st Mortgage Corp share the some expense and income from mortgages. Kim Langille Featured on thess site is an unlicensed mortgage assistant only, not a Mortgage Consultant. Jordi Browne featured on this site is the Mortgage Broker of record. “The Broker” is Jordi Browne. Jordi Browne also holds a Life Insurance License and represents Verico Canadian 1st Mortgage Corp. Dave Browne featured on this site has a Life Insurance License too but is an independent agent– Jordi and Dave Browne co-broker life insurance files and share expenses, all income retained by Verico Canadian 1st Mortgage Corp.