A future of higher mortgage rates
Did you get your special edition 2009 rock-bottom interest rate loan yet? Better get it quick, because you’re running out of time. We’ve heard from the Bank of Canada, and Harper says the same thing: expect rising rates.
Down south Freddie Mac sees mortgage rate rising to 6% in 2010, while Morgan Stanley is betting on 30 year rates of 7.5 to 8%. These are still historically very low, but changes like this can have a dramatic effect on high debt levels.
Any more rabbits in that hat?
RSS 2.0 comments feed. Both comments and pings are currently closed.
January 3rd, 2010 at 4:46 pm
I tried to post this on Chipman’s but I have been censored, has anyone else been censored
56 Econ Student Tue, Dec 30, 2008 | 10:34 am What’s your prediction? ”
My prediction- prices will go up.
The prediction is based on a study I read on Hong Kong’s property crash.
It seems everyone there jumped in when they thought it was safe, just before the big crash.
I anticipate a false recovery, followed by a big crash.
It could be as early as Spring 09, followed by a crash late summer, but if I were to bet, (not more than 1 dollar), I don’t think we will see the big crash until summer of 2010.
January 2nd, 2010 at 9:42 am
scullboy – hate to break this to you but, on reading the tone and off-topic nature of your posts, there is also a fair case for calling you a troll. Why would anyone move away from a place they obviously didn’t like and yet continue to read and talk about it? Makes no sense.
In fact, I wouldn’t be surprised if you and Supraboy are one and the same. Your comments about farmers markets, for example, don’t make sense – there are a lot of farmers markets in Vancouver. In fact, Vancouver is the home of the 100-mile diet you seem to be a fan of. I’m sure you are enjoying your new life in Halifax, but you don’t seem to realise that life is not all about where you live – it’s about who you know and what you do. You may just be enjoying the classic “change is as good as a rest” syndrome or the feeling of relief people get when they leave problems behind and start a new life. It’s possible to make a good life anywhere and ignore people like this “supraboy” or ayone else you don’t like in your current locale – moving to Halifax to get away from them is extreme, which makes me think its BS.
The fact that you can’t seem to leave your old life behind suggests that whatever problems you had in Vancouver will catch up with you in Halifax. Your posts are long, pointless, impossible to verify as accurate and boring – good luck!
You do also sound racist. Dim sum places are not full because they are cheap – dim sum is a Chinese tradition, like Spanish tapas or Canadian chicken wings – it’s as much about the company as the food. But then I’m not sure you are often in company, so maybe that concept is alien to you.
January 1st, 2010 at 8:33 am
@The Best Real Estate Anywhere: “The plan is to engineer a housing correction.”
Hmm… very plausible as 1) High real estate prices is gross mis-allocation of capital (We need real, productive industries– to make stuff that we can sell to the rest of the world, not just have R/E jerk circles), and 2) Banks are ready for a correction. (As we all know banks have not been increasing their mortgage books for the last few year. Large percentage of recent loans are CMHC insured and securitized –i.e. Bank will not care if RE market tanks.)
December 31st, 2009 at 2:10 pm
#65
You are right there is also a troll that likes to try to pull the topic to dumb right wing cop bashing, judge bashing, intolerant rants but we just ignore him too
December 30th, 2009 at 9:51 pm
Futura:
Skip my posts, then.
Anon 64: Trolls never go away. Just look at Browntown. They’re good for only one thing, and that’s honing one’s insult skills. Calibrating your insults perfectly and getting a reaction is an art form. Just look at post 58. Clearly something got to him.
The guy offers nothing to the conversation and won’t ever go away so it’s an affordable pleasure to see just exactly what insult will finally annoy him the way he annoys everyone else. Sure it lowers the conversation but no more then the loonies that rail on about unions and cops and the like.
December 30th, 2009 at 7:56 pm
Scullboy,
Supraboy is not chinese. He is pretending to be to incite you so that you’ll appear racist and discredit yourself.
The best thing to do is ignore the troll. It probably doesn’t even live in Canada and it’s idea of a good times is to rile people up.
if you do an internet search there was an article about trolls. It describes supra exactly.
Just ignore it and it’ll go away.
Just like dave, john, satv, etc.
If you recall the troll admitted to being all of them. Anything to incite people (stupid, idealisitic, naive, ignorant etc.)
Don’t take the bait you are bigger than a little troll.
It wants to get a rise out of you so if you react it wins.
In real life it probably has no friends so this is the way it gets attention and makes itself feel good.
December 30th, 2009 at 7:22 pm
Scullboy,Supraboy
Boys, this real estate discusson is being ruined by your participation.
December 30th, 2009 at 6:00 pm
I believe it. There are theories that USA didn’t go to the moon an faked it. There are theories that the US government bombed their own World Trade Centre.
-sigh- the retards and whackos are out in full force.
Must be the holiday season.
December 30th, 2009 at 5:02 pm
Supra@58 (cause who are we kidding, that’s who you are)
Wow, struck a nerve did I? Finally.
Tell me, what bothered you the most? Was it the slights to your masculinity? The graphic sexual imagery? Maybe it was the comments on dim sum.
Tell me, I’m dying to know.
December 30th, 2009 at 4:41 pm
i blogs with da best of dem
December 30th, 2009 at 4:25 pm
@Anonymous:
i agee too. US is full of shit.
December 30th, 2009 at 4:23 pm
@scullboy:
Scullboy, get the F**K out of here. Go on blogs on the east coast.
December 30th, 2009 at 3:12 pm
“Just hung up from a conference call with the Prime Minister and several Finance Ministers.
Bad, bad news for specuvestors, especially the ones in BC.”
Best Realestate:
Are you pulling our legs? I can’t believe you would have been a participant at such highly complex discussions. Are you a qualified Realtor or professional Mortgage Broker?
“My brother in law just bought his 3rd investment property… This is the same person who would crap his pants if he had to bet $100 on roulette.” « Vancouver Real Estate Anecdote Archive Says:
December 30th, 2009 at 3:02 pm
[...] from oh crap at vancouvercondo.info 29 Dec 2009 3:10 am [...]
December 30th, 2009 at 2:16 pm
Van Province categorizes RCMP as ‘weasels’. Well said IMHO
http://www.theprovince.com/new.....story.html
December 30th, 2009 at 2:01 pm
@The Best Real Estate Anywhere: Well that would be exciting. Can’t wait to hear more!
December 30th, 2009 at 1:50 pm
Teranet monthly report is out:
http://www.housepriceindex.ca
Vancouver prices up again in October by 1.85%. Still below the all-time high water mark of Sprin ’08, but getting close. When does the madness end?
December 30th, 2009 at 1:33 pm
Interesting links: I think the first one shows that wives can support their husbands in moments of need. If there is a major financial shock it might be that they are even forced to support each other. Marriages involve a large share of ‘convenience’” but if the house you live in depreciates both partners become poorer and they might have to stick together. Selling the house would be disastrous for both and divorces are expensive.
If only one partner lost their job, things might be different.
December 30th, 2009 at 1:05 pm
It seems that contrary to what one may think a housing crash forces
people to stay together.
http://online.wsj.com/article/.....98923.html