Interest rates!
You either love 'em or really love 'em! You either have the cash or you need to use the banks.
Maybe we should take a look in the mirror and ask yourself if we would lend a few hundred grand to the person looking back at us. Not only lend the money, but lock in at some very low rates.
The Canadian real estate borrower would enjoy having a 30 year lock in interest rate. Canada resets the rates with the borrower every so many years.
Anyway today's rate is: 5.375% with 1.875 points and 5.875% at par.
However, word on the street has it that the interest rate is going to go higher. For a little bit better source vs. the 'word' on the street, I suggest you go to The Wall Street Journal and read: Get Ready for Inflation and Higher Interest Rates.
If they have archived the article, go to www.WSJ.com, go to their search box and type in: Get Ready for Inflation and Higher Interest Rates. That should pull up the article.
The article is a great read about how things work or worked or are working:)
Wes Nygaard - The Muljat Group - www.WesNygaard.com - www.WhatcomCountyHomeSearch.com - 360.201.1844 - GRI - ABR
