Bank of Canada Rate Hike

[farmaholic]

A half of one percent(total increase so far) interest rate increase on a 3.5% mortgage is a bigger deal that a half a percent on a 7% mortgage. What is it?...14% versus 7% more....floating ratees will feel it sooner, fixed rates will feel it upon renewal. 14% is substantial...when will the payments become to hard to make? Solution: re-amortize...add another 5 or 10 years on and reduce the payments.

[ajl]

Rates should never have been as low as they were with all the debt out there. In a free market supply and demand for credit would determine rate rather than central bank money printing which produced the asset price bubble everywhere economy. What good will suppressing rates even longer do? Have to get rid of all the excess cheap debt has got us sometime. Might as well get it on.

[farmaholic]

....hold on?

.....and remember! Farm land doesn't go down! Buy now before it goes up again. I've been wrong for three to five years already!

[Guest]

....hold on?

.....and remember! Farm land doesn't go down! Buy now before it goes up again. I've been wrong for three to five years already!

Be patient , it will . Purchase price doesnt work anymore with these prices

[errolanderson]

Loonie is a roarin today . . . . At this rate, spot dollar might be at 83 cents by tomorrow.

Canada's economy is in for a quick, swift fall /winter slowdown (IMO). Good grief . . . .

[bucket]

Why would they kill exports from this country.....?????

What the **** is wrong with these guys?????

[macdon02]

What % of the tax paying population is entering retirement? The saver has been the victim for 8 years. This has less to do with home owners and consumers then pension funds. Oh and an extra .5% on how many frigging dollars of stimulus spending by Harper and Justin? The bill just went up AGAIN! Crazy glue your butt cheeks together, this is gonna hurt on the tax side.

[littledoggie]

Doesn't Trump believe that all dollar values should be the same? Specifically in regard to China as they artificially keep their dollar low. I guess that could apply to Canada too.

[bucket]

When we had a par dollar we still paid more for gas power telephones vehicles fetilizer chemical....

[sumdumguy]

Rates should never have been as low as they were with all the debt out there. In a free market supply and demand for credit would determine rate rather than central bank money printing which produced the asset price bubble everywhere economy. What good will suppressing rates even longer do? Have to get rid of all the excess cheap debt has got us sometime. Might as well get it on.

Debtors had a good time on the backs of savers and seniors. Free money for a grand lifestyle. Some one is paying for it. Now a teensiest little bump up in rates, and they will probably be sqawking.