BOC announced their rate cut, they went a full 50 bps. I was wondering if they would follow fed all the way or just go 25 bps....
I think in the long term this is gonna bite the economy, and the markets, in the butt, but what do I know. Cheap money and people just pile up more debt seems like. Not a sustainable model.
In the meantime my (small) mortgage is up for renewal in June, and they were already offering me a pretty good rate for early renewal. I told them I was holding off because I expected a rate drop (this was a month ago)....glad I waited. Should get something very good in the next month or so.
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'Once the monkeys learn they can vote themselves a banana, they'll never climb another tree.'. Robert Heinlein
'You can accomplish a lot more with a kind word and a gun, than with a kind word alone.' Al Capone
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