🚀 go-pugleaf

In ont.general Elat Lerner <cx172@freenet.carleton.ca> wrote:
> Eric Beauchesne wrote in the Citizen on Nov 10:
>    "Falling rates buoy housing picture"

> Does Eric not know that today's mortgage rates are higher than those
> of 2-3 years ago?

But they're between 1% and 2% lower than they were when I got my mortgage a year ago.

  --G

-- 
  Gordon Dewis        |  Tired of using "military intelligence" as an example
  BA Hons Geography   |  of an oxymoron?  Try "ethical bulk emailer" instead.

Actually while I'm not going to debate your whole message, you are wrong 
about the mortgage rates being higher than 2-3 years ago.  According to 
http://www.grgmortgage.com/histori.htm which gets it's data from CMHC, 
mortgages have not been lower than the current posted rate (6.70/5 years) 
in the past 40 years.  Furthermore, banks are more aggressive now and will 
discount the rate up to 1.25% where as in the past (even recently) would 
only discount 0.5-1.0% so the rate the consumers are getting is much lower 
than it's ever been.  You can get a 1 year rate for 3.6% right now!

As far as the Ottawa market, it's certainly cooled down and homes aren't 
selling as fast but prices haven't really gone down overall.  They have 
gone down a bit but that's mostly because homes are selling more slowly now 
and buyers now have some negotiating power.  The list prices are actually 
probably higher now than they were last year (last year many homes were 
selling above list price).

Just my 2cents,
Mike

cx172@FreeNet.Carleton.CA (Elat Lerner) wrote in 
<9sma3h$n16$1@freenet9.carleton.ca>:

>Eric Beauchesne wrote in the Citizen on Nov 10:
>   "Falling rates buoy housing picture"
>
>Does Eric not know that today's mortgage rates are higher than those
>of 2-3 years ago?
>
>    "Demand for new houses remains strong despite weakened economy: CMHC"
>
>Does CMHC not realize that this is a fallacy in many places including
>Ottawa?
>
>In it's report Building permits September 2000  StatCan says: 
>
>    "The value of housing permits rose a marginal 0.2% to $1.8 billion; 
>    only multi-family dwellings contributed to the gain...
>
>    Among the provinces, Western Canada accounted for September's rise 
>    in housing permits; all  provinces east of Saskatchewan 
>    posted declines."
>
>Does not sound like demand of housing is that great even outside Ottawa.
>
>Back to Eric: �
>    "Despite the skepticism of opposition critics and some economists, 
>    plunging interest rates are working their magic on a key sector 
>    of the economy, housing, easing pressure on Finance
>    Minister Paul Martin to do more to stimulate an economy many 
>    analysts argue is already in recession."
>
>    Home construction rose a surprising 12.7 per cent last month"
>
>It did? In which part of the country?
>
>    "Urban starts rose in all regions," Canada Mortgage and 
>    Housing Corp. economist Philippe Le Goff"
>
>Check the facts.
>
>    "Ted Carmichael, economist at J.P. Morgan Canada, agreed, 
>    saying "falling mortgage rates..." 
>
>Maybe if you repeat this fallacy enough times it will become 
>true?
>
>    "The pace of construction remained ahead of last year's 
>    in all major cities other than Montreal, where starts were 
>    down one per cent."
>
>According to the Ottawa Business News:
>
>    "There was a decline in Ottawa housing starts last month, 
>    when compared to October 2000"  
>
>Back to Eric:
>
>    "For a homebuyer the savings from the drop in rates this year..." 
>
>That's a little better, but it would be nice if the Citizen 
>explained that mortgage rates are still higher than they were a 
>couple of years ago.
>
>    "...as the government leaves it to the Bank of Canada to 
>    stimulate the economy."
>
>The Bank of Canada does not set mortgage rates. Doesn't Eric 
>know that?
>
>    "Central banks' ... both the European and England's 
>    central banks... U.S. Federal Reserve... Bank of Canada..."
>
>What have any of these to do with mortgage rates?????
>
>Kristin Goff continues with"                               
>    "House sales surprise Ottawa industry"
> �
>    "Mortgage rates, which have fallen to 6.9 per cent on five-year 
>    terms at major banks"
>
>You mean the 5-yr mortgage rate that "fell" from the 6.71% average 
>rate recorded by the Bank of Canada for April of 1999? 
>
>    "Resales... In October the average was $172,900 last month which 
>    was still up about 10 per cent from October, 2000."
>
>Don't know about that, but how about telling your readers that the 
>average resale home in Ottawa fetched $175,594 for the first nine 
>months of 2001. Sounds like prices are declining from where I stand.
>
>    "Mr. Knowlton said overall new home sales prices haven't 
>    declined noticeably."
>
>Oh? So they did decline? By how much?
>
>The Citizen not covered the September New House Price index published
>by StatCan on Nov 10. This report shows that new house prices moved
>up a slugish 0.1% in Toronto and 0% in Ottawa.
>
>Now is that a surprise for the "booming" housing industry? 
>--
>Donate blood
>http://www.bloodservices.ca/Ontario/Ottawa/index.html
>

Gordon Dewis (gordon@pinetree.pinetree.org) writes:
> But they're between 1% and 2% lower than they were when I got my mortgage a year ago.

No doubt mortgage rates have gone down since last year, and no
doubt the housing market in Ottawa went down since last year.

So what does that tell you? :-)
 
>   --G
> 
> -- 
>   Gordon Dewis        |  Tired of using "military intelligence" as an example
>   BA Hons Geography   |  of an oxymoron?  Try "ethical bulk emailer" instead.

--
Donate blood
http://www.bloodservices.ca/Ontario/Ottawa/index.html

Mike (anon@xnews.com) writes:
> Actually while I'm not going to debate your whole message, you are wrong 
> about the mortgage rates being higher than 2-3 years ago.  According to 
> http://www.grgmortgage.com/histori.htm which gets it's data from CMHC, 

Actually the site you recommend confirmed the exact rate I quoted:
6.71% for April 1999.

And yes you are right, the current rates just dropped to 6.7% 
(wouldn't you know it I just renewed a mortgage on Wednesday 
when rates were still at 6.9%).

However, the reporter was not talking about the rates today, they
were talking about the housing market last month. If you ask me
for my crystal ball, I will predict that the Ottawa housing market
will yawn at the lower rates and continue on it's downward spiral.

Of course, my crystal ball has been known to malfunction at 
times :-)

> mortgages have not been lower than the current posted rate (6.70/5 years) 
> in the past 40 years.  Furthermore, banks are more aggressive now and will 
> discount the rate up to 1.25% where as in the past (even recently) would 
> only discount 0.5-1.0% so the rate the consumers are getting is much lower 
> than it's ever been.  You can get a 1 year rate for 3.6% right now!
> 
> As far as the Ottawa market, it's certainly cooled down and homes aren't 
> selling as fast but prices haven't really gone down overall.  

And you say this based on...?

> They have 
> gone down a bit but that's mostly because homes are selling more slowly now 
> and buyers now have some negotiating power.  

Is this not a contradiction to your previous sentence?

> The list prices are actually 
> probably higher now than they were last year (last year many homes were 
> selling above list price).

List prices don't a market price make.

I wonder if the situation in Toronto is the same. Anyone?
 
> Just my 2cents,
> Mike
> 
> cx172@FreeNet.Carleton.CA (Elat Lerner) wrote in 
> <9sma3h$n16$1@freenet9.carleton.ca>:
> 
>>Eric Beauchesne wrote in the Citizen on Nov 10:
>>   "Falling rates buoy housing picture"
>>
>>Does Eric not know that today's mortgage rates are higher than those
>>of 2-3 years ago?
>>
>>    "Demand for new houses remains strong despite weakened economy: CMHC"
>>
>>Does CMHC not realize that this is a fallacy in many places including
>>Ottawa?
>>
>>In it's report Building permits September 2000  StatCan says: 
>>
>>    "The value of housing permits rose a marginal 0.2% to $1.8 billion; 
>>    only multi-family dwellings contributed to the gain...
>>
>>    Among the provinces, Western Canada accounted for September's rise 
>>    in housing permits; all  provinces east of Saskatchewan 
>>    posted declines."
>>
>>Does not sound like demand of housing is that great even outside Ottawa.
>>
>>Back to Eric: �
>>    "Despite the skepticism of opposition critics and some economists, 
>>    plunging interest rates are working their magic on a key sector 
>>    of the economy, housing, easing pressure on Finance
>>    Minister Paul Martin to do more to stimulate an economy many 
>>    analysts argue is already in recession."
>>
>>    Home construction rose a surprising 12.7 per cent last month"
>>
>>It did? In which part of the country?
>>
>>    "Urban starts rose in all regions," Canada Mortgage and 
>>    Housing Corp. economist Philippe Le Goff"
>>
>>Check the facts.
>>
>>    "Ted Carmichael, economist at J.P. Morgan Canada, agreed, 
>>    saying "falling mortgage rates..." 
>>
>>Maybe if you repeat this fallacy enough times it will become 
>>true?
>>
>>    "The pace of construction remained ahead of last year's 
>>    in all major cities other than Montreal, where starts were 
>>    down one per cent."
>>
>>According to the Ottawa Business News:
>>
>>    "There was a decline in Ottawa housing starts last month, 
>>    when compared to October 2000"  
>>
>>Back to Eric:
>>
>>    "For a homebuyer the savings from the drop in rates this year..." 
>>
>>That's a little better, but it would be nice if the Citizen 
>>explained that mortgage rates are still higher than they were a 
>>couple of years ago.
>>
>>    "...as the government leaves it to the Bank of Canada to 
>>    stimulate the economy."
>>
>>The Bank of Canada does not set mortgage rates. Doesn't Eric 
>>know that?
>>
>>    "Central banks' ... both the European and England's 
>>    central banks... U.S. Federal Reserve... Bank of Canada..."
>>
>>What have any of these to do with mortgage rates?????
>>
>>Kristin Goff continues with"                               
>>    "House sales surprise Ottawa industry"
>> �
>>    "Mortgage rates, which have fallen to 6.9 per cent on five-year 
>>    terms at major banks"
>>
>>You mean the 5-yr mortgage rate that "fell" from the 6.71% average 
>>rate recorded by the Bank of Canada for April of 1999? 
>>
>>    "Resales... In October the average was $172,900 last month which 
>>    was still up about 10 per cent from October, 2000."
>>
>>Don't know about that, but how about telling your readers that the 
>>average resale home in Ottawa fetched $175,594 for the first nine 
>>months of 2001. Sounds like prices are declining from where I stand.
>>
>>    "Mr. Knowlton said overall new home sales prices haven't 
>>    declined noticeably."
>>
>>Oh? So they did decline? By how much?
>>
>>The Citizen not covered the September New House Price index published
>>by StatCan on Nov 10. This report shows that new house prices moved
>>up a slugish 0.1% in Toronto and 0% in Ottawa.
>>
>>Now is that a surprise for the "booming" housing industry? 
>>--
>>Donate blood
>>http://www.bloodservices.ca/Ontario/Ottawa/index.html
>>
> 
--
Donate blood
http://www.bloodservices.ca/Ontario/Ottawa/index.html

I am locked in for five years with TD at 5.45% currently and
dropping....got the floatdown option goin' on until I close on the
house.  It will most certainly go down again...excellent time to be
buying.  These great rates combined with the fact that the price of
houses have definitely leveled off in Ottawa makes for great
conditions...These rates are unheard of...

Cheers

On 12 Nov 2001 00:18:20 GMT, cx172@FreeNet.Carleton.CA (Elat Lerner)
wrote:

>Mike (anon@xnews.com) writes:
>> Actually while I'm not going to debate your whole message, you are wrong 
>> about the mortgage rates being higher than 2-3 years ago.  According to 
>> http://www.grgmortgage.com/histori.htm which gets it's data from CMHC, 
>
>Actually the site you recommend confirmed the exact rate I quoted:
>6.71% for April 1999.
>
>And yes you are right, the current rates just dropped to 6.7% 
>(wouldn't you know it I just renewed a mortgage on Wednesday 
>when rates were still at 6.9%).
>
>However, the reporter was not talking about the rates today, they
>were talking about the housing market last month. If you ask me
>for my crystal ball, I will predict that the Ottawa housing market
>will yawn at the lower rates and continue on it's downward spiral.
>
>Of course, my crystal ball has been known to malfunction at 
>times :-)
>
>> mortgages have not been lower than the current posted rate (6.70/5 years) 
>> in the past 40 years.  Furthermore, banks are more aggressive now and will 
>> discount the rate up to 1.25% where as in the past (even recently) would 
>> only discount 0.5-1.0% so the rate the consumers are getting is much lower 
>> than it's ever been.  You can get a 1 year rate for 3.6% right now!
>> 
>> As far as the Ottawa market, it's certainly cooled down and homes aren't 
>> selling as fast but prices haven't really gone down overall.  
>
>And you say this based on...?
>
>> They have 
>> gone down a bit but that's mostly because homes are selling more slowly now 
>> and buyers now have some negotiating power.  
>
>Is this not a contradiction to your previous sentence?
>
>> The list prices are actually 
>> probably higher now than they were last year (last year many homes were 
>> selling above list price).
>
>List prices don't a market price make.
>
>I wonder if the situation in Toronto is the same. Anyone?
> 
>> Just my 2cents,
>> Mike
>> 
>> cx172@FreeNet.Carleton.CA (Elat Lerner) wrote in 
>> <9sma3h$n16$1@freenet9.carleton.ca>:
>> 
>>>Eric Beauchesne wrote in the Citizen on Nov 10:
>>>   "Falling rates buoy housing picture"
>>>
>>>Does Eric not know that today's mortgage rates are higher than those
>>>of 2-3 years ago?
>>>
>>>    "Demand for new houses remains strong despite weakened economy: CMHC"
>>>
>>>Does CMHC not realize that this is a fallacy in many places including
>>>Ottawa?
>>>
>>>In it's report Building permits September 2000  StatCan says: 
>>>
>>>    "The value of housing permits rose a marginal 0.2% to $1.8 billion; 
>>>    only multi-family dwellings contributed to the gain...
>>>
>>>    Among the provinces, Western Canada accounted for September's rise 
>>>    in housing permits; all  provinces east of Saskatchewan 
>>>    posted declines."
>>>
>>>Does not sound like demand of housing is that great even outside Ottawa.
>>>
>>>Back to Eric: �
>>>    "Despite the skepticism of opposition critics and some economists, 
>>>    plunging interest rates are working their magic on a key sector 
>>>    of the economy, housing, easing pressure on Finance
>>>    Minister Paul Martin to do more to stimulate an economy many 
>>>    analysts argue is already in recession."
>>>
>>>    Home construction rose a surprising 12.7 per cent last month"
>>>
>>>It did? In which part of the country?
>>>
>>>    "Urban starts rose in all regions," Canada Mortgage and 
>>>    Housing Corp. economist Philippe Le Goff"
>>>
>>>Check the facts.
>>>
>>>    "Ted Carmichael, economist at J.P. Morgan Canada, agreed, 
>>>    saying "falling mortgage rates..." 
>>>
>>>Maybe if you repeat this fallacy enough times it will become 
>>>true?
>>>
>>>    "The pace of construction remained ahead of last year's 
>>>    in all major cities other than Montreal, where starts were 
>>>    down one per cent."
>>>
>>>According to the Ottawa Business News:
>>>
>>>    "There was a decline in Ottawa housing starts last month, 
>>>    when compared to October 2000"  
>>>
>>>Back to Eric:
>>>
>>>    "For a homebuyer the savings from the drop in rates this year..." 
>>>
>>>That's a little better, but it would be nice if the Citizen 
>>>explained that mortgage rates are still higher than they were a 
>>>couple of years ago.
>>>
>>>    "...as the government leaves it to the Bank of Canada to 
>>>    stimulate the economy."
>>>
>>>The Bank of Canada does not set mortgage rates. Doesn't Eric 
>>>know that?
>>>
>>>    "Central banks' ... both the European and England's 
>>>    central banks... U.S. Federal Reserve... Bank of Canada..."
>>>
>>>What have any of these to do with mortgage rates?????
>>>
>>>Kristin Goff continues with"                               
>>>    "House sales surprise Ottawa industry"
>>> �
>>>    "Mortgage rates, which have fallen to 6.9 per cent on five-year 
>>>    terms at major banks"
>>>
>>>You mean the 5-yr mortgage rate that "fell" from the 6.71% average 
>>>rate recorded by the Bank of Canada for April of 1999? 
>>>
>>>    "Resales... In October the average was $172,900 last month which 
>>>    was still up about 10 per cent from October, 2000."
>>>
>>>Don't know about that, but how about telling your readers that the 
>>>average resale home in Ottawa fetched $175,594 for the first nine 
>>>months of 2001. Sounds like prices are declining from where I stand.
>>>
>>>    "Mr. Knowlton said overall new home sales prices haven't 
>>>    declined noticeably."
>>>
>>>Oh? So they did decline? By how much?
>>>
>>>The Citizen not covered the September New House Price index published
>>>by StatCan on Nov 10. This report shows that new house prices moved
>>>up a slugish 0.1% in Toronto and 0% in Ottawa.
>>>
>>>Now is that a surprise for the "booming" housing industry? 
>>>--
>>>Donate blood
>>>http://www.bloodservices.ca/Ontario/Ottawa/index.html
>>>
>> 
>--
>Donate blood
>http://www.bloodservices.ca/Ontario/Ottawa/index.html

Welcome to the mortgage-slaves group :-)

Yes, when you are courting you get the flowers. 

Once you buy the house and have a mortgage in place, the bank
knows they have got you. It is not that easy to negotiate such
favourable terms at that point.

Great time to buy a house? 

Only if the market has bottomed out, and only if you can 
make the payments long term. Has it / can you?

 (damian_levangie@hotmail.com) writes:
> I am locked in for five years with TD at 5.45% currently and
> dropping....got the floatdown option goin' on until I close on the
> house.  It will most certainly go down again...excellent time to be
> buying.  These great rates combined with the fact that the price of
> houses have definitely leveled off in Ottawa makes for great
> conditions...These rates are unheard of...
> 
> Cheers
> 
> On 12 Nov 2001 00:18:20 GMT, cx172@FreeNet.Carleton.CA (Elat Lerner)
> wrote:
> 
>>Mike (anon@xnews.com) writes:
>>> Actually while I'm not going to debate your whole message, you are wrong 
>>> about the mortgage rates being higher than 2-3 years ago.  According to 
>>> http://www.grgmortgage.com/histori.htm which gets it's data from CMHC, 
>>
>>Actually the site you recommend confirmed the exact rate I quoted:
>>6.71% for April 1999.
>>
>>And yes you are right, the current rates just dropped to 6.7% 
>>(wouldn't you know it I just renewed a mortgage on Wednesday 
>>when rates were still at 6.9%).
>>
>>However, the reporter was not talking about the rates today, they
>>were talking about the housing market last month. If you ask me
>>for my crystal ball, I will predict that the Ottawa housing market
>>will yawn at the lower rates and continue on it's downward spiral.
>>
>>Of course, my crystal ball has been known to malfunction at 
>>times :-)
>>
>>> mortgages have not been lower than the current posted rate (6.70/5 years) 
>>> in the past 40 years.  Furthermore, banks are more aggressive now and will 
>>> discount the rate up to 1.25% where as in the past (even recently) would 
>>> only discount 0.5-1.0% so the rate the consumers are getting is much lower 
>>> than it's ever been.  You can get a 1 year rate for 3.6% right now!
>>> 
>>> As far as the Ottawa market, it's certainly cooled down and homes aren't 
>>> selling as fast but prices haven't really gone down overall.  
>>
>>And you say this based on...?
>>
>>> They have 
>>> gone down a bit but that's mostly because homes are selling more slowly now 
>>> and buyers now have some negotiating power.  
>>
>>Is this not a contradiction to your previous sentence?
>>
>>> The list prices are actually 
>>> probably higher now than they were last year (last year many homes were 
>>> selling above list price).
>>
>>List prices don't a market price make.
>>
>>I wonder if the situation in Toronto is the same. Anyone?
>> 
>>> Just my 2cents,
>>> Mike
>>> 
>>> cx172@FreeNet.Carleton.CA (Elat Lerner) wrote in 
>>> <9sma3h$n16$1@freenet9.carleton.ca>:
>>> 
>>>>Eric Beauchesne wrote in the Citizen on Nov 10:
>>>>   "Falling rates buoy housing picture"
>>>>
>>>>Does Eric not know that today's mortgage rates are higher than those
>>>>of 2-3 years ago?
>>>>
>>>>    "Demand for new houses remains strong despite weakened economy: CMHC"
>>>>
>>>>Does CMHC not realize that this is a fallacy in many places including
>>>>Ottawa?
>>>>
>>>>In it's report Building permits September 2000  StatCan says: 
>>>>
>>>>    "The value of housing permits rose a marginal 0.2% to $1.8 billion; 
>>>>    only multi-family dwellings contributed to the gain...
>>>>
>>>>    Among the provinces, Western Canada accounted for September's rise 
>>>>    in housing permits; all  provinces east of Saskatchewan 
>>>>    posted declines."
>>>>
>>>>Does not sound like demand of housing is that great even outside Ottawa.
>>>>
>>>>Back to Eric: �
>>>>    "Despite the skepticism of opposition critics and some economists, 
>>>>    plunging interest rates are working their magic on a key sector 
>>>>    of the economy, housing, easing pressure on Finance
>>>>    Minister Paul Martin to do more to stimulate an economy many 
>>>>    analysts argue is already in recession."
>>>>
>>>>    Home construction rose a surprising 12.7 per cent last month"
>>>>
>>>>It did? In which part of the country?
>>>>
>>>>    "Urban starts rose in all regions," Canada Mortgage and 
>>>>    Housing Corp. economist Philippe Le Goff"
>>>>
>>>>Check the facts.
>>>>
>>>>    "Ted Carmichael, economist at J.P. Morgan Canada, agreed, 
>>>>    saying "falling mortgage rates..." 
>>>>
>>>>Maybe if you repeat this fallacy enough times it will become 
>>>>true?
>>>>
>>>>    "The pace of construction remained ahead of last year's 
>>>>    in all major cities other than Montreal, where starts were 
>>>>    down one per cent."
>>>>
>>>>According to the Ottawa Business News:
>>>>
>>>>    "There was a decline in Ottawa housing starts last month, 
>>>>    when compared to October 2000"  
>>>>
>>>>Back to Eric:
>>>>
>>>>    "For a homebuyer the savings from the drop in rates this year..." 
>>>>
>>>>That's a little better, but it would be nice if the Citizen 
>>>>explained that mortgage rates are still higher than they were a 
>>>>couple of years ago.
>>>>
>>>>    "...as the government leaves it to the Bank of Canada to 
>>>>    stimulate the economy."
>>>>
>>>>The Bank of Canada does not set mortgage rates. Doesn't Eric 
>>>>know that?
>>>>
>>>>    "Central banks' ... both the European and England's 
>>>>    central banks... U.S. Federal Reserve... Bank of Canada..."
>>>>
>>>>What have any of these to do with mortgage rates?????
>>>>
>>>>Kristin Goff continues with"                               
>>>>    "House sales surprise Ottawa industry"
>>>> �
>>>>    "Mortgage rates, which have fallen to 6.9 per cent on five-year 
>>>>    terms at major banks"
>>>>
>>>>You mean the 5-yr mortgage rate that "fell" from the 6.71% average 
>>>>rate recorded by the Bank of Canada for April of 1999? 
>>>>
>>>>    "Resales... In October the average was $172,900 last month which 
>>>>    was still up about 10 per cent from October, 2000."
>>>>
>>>>Don't know about that, but how about telling your readers that the 
>>>>average resale home in Ottawa fetched $175,594 for the first nine 
>>>>months of 2001. Sounds like prices are declining from where I stand.
>>>>
>>>>    "Mr. Knowlton said overall new home sales prices haven't 
>>>>    declined noticeably."
>>>>
>>>>Oh? So they did decline? By how much?
>>>>
>>>>The Citizen not covered the September New House Price index published
>>>>by StatCan on Nov 10. This report shows that new house prices moved
>>>>up a slugish 0.1% in Toronto and 0% in Ottawa.
>>>>
>>>>Now is that a surprise for the "booming" housing industry? 
>>>>--
>>>>Donate blood
>>>>http://www.bloodservices.ca/Ontario/Ottawa/index.html
>>>>
>>> 
>>--
>>Donate blood
>>http://www.bloodservices.ca/Ontario/Ottawa/index.html
> 
--
Donate blood
http://www.bloodservices.ca/Ontario/Ottawa/index.html

I pay 3.9%, and I can repay up to 20% of my original loan without penalty.
(President's Choice Finacial) I would say rates are down.
"Elat Lerner" <cx172@FreeNet.Carleton.CA> wrote in message
news:9sn3i4$13$1@freenet9.carleton.ca...
> Gordon Dewis (gordon@pinetree.pinetree.org) writes:
> > But they're between 1% and 2% lower than they were when I got my
mortgage a year ago.
>
> No doubt mortgage rates have gone down since last year, and no
> doubt the housing market in Ottawa went down since last year.
>
> So what does that tell you? :-)
>
> >   --G
> >
> > --
> >   Gordon Dewis        |  Tired of using "military intelligence" as an
example
> >   BA Hons Geography   |  of an oxymoron?  Try "ethical bulk emailer"
instead.
>
> --
> Donate blood
> http://www.bloodservices.ca/Ontario/Ottawa/index.html

You are really talking about short term interest rate, which could change
overnight if Mr Greenspan feel like it..while typically people use a 5 year
fixed rate to measure how expensive to own have a mortgage. the 5 year fixed
rate was higher than 2.5 years ago until last week.

--
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

You know you have achieved perfection in design
not when you have nothing more to add, but
when you hava nothing more to take away.

                                      - Antoine de Saint-Exupery

" Bugs Bunny" <mikehjf@sympatico.ca> wrote in message
news:ki_H7.6455$cG3.1256416@news20.bellglobal.com...
> I pay 3.9%, and I can repay up to 20% of my original loan without penalty.
> (President's Choice Finacial) I would say rates are down.
> "Elat Lerner" <cx172@FreeNet.Carleton.CA> wrote in message
> news:9sn3i4$13$1@freenet9.carleton.ca...
> > Gordon Dewis (gordon@pinetree.pinetree.org) writes:
> > > But they're between 1% and 2% lower than they were when I got my
> mortgage a year ago.
> >
> > No doubt mortgage rates have gone down since last year, and no
> > doubt the housing market in Ottawa went down since last year.
> >
> > So what does that tell you? :-)
> >
> > >   --G
> > >
> > > --
> > >   Gordon Dewis        |  Tired of using "military intelligence" as an
> example
> > >   BA Hons Geography   |  of an oxymoron?  Try "ethical bulk emailer"
> instead.
> >
> > --
> > Donate blood
> > http://www.bloodservices.ca/Ontario/Ottawa/index.html
>
>