Milo & Michelle McGarry

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Tuesday, June 10, 2008

Mortgage Rates

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What is the fastest way to add buyers to the market and thereby increase activity? Raise mortgage rates or threaten too. If you are a buyer, consider yourself threatened. The Bank of Canada has signalled a change in the way it is handling interest rates by failing to lower the Bank Rate as was widely expected today. Most analysts now expect rates to increase to dampen price inflation caused by oil and food price increases. Hold on it's going to get interesting!!

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