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prime rate falls to 4.25
- Thread starter kuba
- Start date
Aerius Zension
TRIBE Member
I think falls is a bad thing.
Though I might be wrong.
Though I might be wrong.
The Tesseract
TRIBE Member
I have a feeling that i will be investing in american dollars.
just because the loonie is so high right now... elections are approaching, the american public is likely to vote someone new in, and that will send the US dollar back up
and then i will cash my american bills in and reap the reward...
Yaaaaaah ahahahahahahahahahahahahahah!!!!
just because the loonie is so high right now... elections are approaching, the american public is likely to vote someone new in, and that will send the US dollar back up
and then i will cash my american bills in and reap the reward...
Yaaaaaah ahahahahahahahahahahahahahah!!!!
SneakyPete
TRIBE Member
Well it doesn't necessarily mean it's bad. It's good if you're looking to borrow money, get a mortgage, etc. Lowering of the interest rate will likely cause the Canadian Dollar to fall, which also isn't bad. Lower Canadian Dollar increases export, which help the Canadian economy. There's a lot more to it, but that's the basic idea.
LivingRoomPornstar
TRIBE Member
only if you take a variable rate mortgage. which could work out well.
What it means to Canada is that business' will also be able to borrow at an even lower rate and it could push growth higher.
Dan
Soundstream
TRIBE Member
Which is what I have.
Although I prolly won't be smiling so much if it ever skyrockets up to 6% or 7%, hehe.Cheers ... Ian
Mike Richards
TRIBE Member
Believe it or not the Low US dollar is also the reason you may notice (DJs) record prices going up. Most of the bigger distributors in North America are in the US. When they buy European imports with their crappy Yankee Greenback they appear expensive but really their own money is what is causing that. And since most record stores in Canada purchase from these distributors they end up getting the butt-end of the bullshit canon!
The Tesseract
TRIBE Member
[DJ The Tesseract]
aaaaaaaggggghhhh!!!!! shut up!!! nooooooo!!!!
wait... i don't buy shit from stateside. My local record shop buys from Montreal and UK. I'm cool.
*phew*
[DJ The Tesseract]
Mike Richards
TRIBE Member
If your local record shop buys from Nice in Montreal then you're already gettin jacked brother!
it means that the economy was having trouble due to the exports falling... because our goods become more expensive if the currency is more expensive. So... david dodge had to slow it down... and stop people from investing in our currency... the bank of canada rate is tied into the currency ...so if the rate of return is low less people will invest in our currency and our currency will be worth less and this will help our goods be more competitive ..so that prices will fall and be more competitive with imports from other countries...
the lumber industry was hit the harderst out west..so this was one of the reasons david dodge did this.
furthermore.. the dollar will go up..but bank of canada wants to have more control over the rise of our dollar and doesn't want to rise too fast...because that can catch some producers off-guard.
there is a lot of things that have to be adjusted before prices rise
and producers don't get caught off guard...
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adorablehomeboy
TRIBE Promoter
Our dollar increased today. Maybe this cut was expected and already priced in b4 hand.
the prime decrease was anticipated yesturday by mortgage lenders who lowered rates by more than a quarter percent.
the broker that i send most of my clients to is advertising 1year closed mortgages at 3.55% and 5 year closed at 4.9%!
you can also now get 0% down (they give you the cmhc 5% down as a cash back!) at about 6.3% if you qualify
personally, i'm a bit wary of the 0% down because there will be a lot of foreclosures if the markey falters in 5 years and mortgage rates are back up.
the broker that i send most of my clients to is advertising 1year closed mortgages at 3.55% and 5 year closed at 4.9%!
you can also now get 0% down (they give you the cmhc 5% down as a cash back!) at about 6.3% if you qualify
personally, i'm a bit wary of the 0% down because there will be a lot of foreclosures if the markey falters in 5 years and mortgage rates are back up.