Flaherty – Mortgage Doublespeak and Linguistic Illusion

cash-houseLow Canadian Mortgage Rates

In a masterful bit of mortgage doublespeak and linguistic illusion the Minister of Finance stepped back into
The mortgage marketplace, warning about lenders engaging in prudent lending and not engaging in a race to the bottom.
This is an incredibly ironic stance for him to take since it was him and the Conservative government that encouraged the unprecedented loosening of credit underwriting guidelines 5 years ago.

Great Kelowna Mortgage Rates

Anyway, he once again misses the point entirely. He is obsessed with consumer credit quality and seems unconcerned that the rates are this low because the Bank of Canada and the US Fed are printing money at a record rate.
As anyone that reads this blog knows that Kelowna Lending & Mortage Co. The Lending Outlet has been offering 5-year money at 2.99 or 2.89 percent for the past couple of months. There is also an incredible 10-year rate at 3.69 percent.
This is good for borrowers, especially first time home buyers in Kelowna but is a sign of how weak demand is for borrowing outside the consumer sector.
Canada is lagging in business investment, junior companies are finding it impossible to raise cash, and the general industrial and commercial borrowing side is dead as a doornail.
For economies like the GTA, Quebec, and Vancouver to thrive the country needs to encourage the growth of export-oriented manufacturers. Instead of ragging in consumers, Mr. Flaherty should focus on repairing our manufacturing industry and thereby creating jobs.
A good job lets you repay a lot of debt Mr. Flaherty.

First Time Home Buyers Kelowna

Ten Year Kelowna Mortgage 3.69%

Call or text Tracy Charlton about our great 10 year rate 3.69% – This is a great rate get it before it’s gone! 1-250-862-1073.  Let Tracy’s mortgage experience save you money.

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Kelowna Mortgage Broker

kelowna-mortgage-brokerOk so you’ve decided that based on all your friends and relatives advice and stuff you read

In various media that you shouldn’t buy a home today.

Our local market is about to take a giant meltdown like the US circa 20090, right?
Wrong!
There are many things to think about.  First look at the US market today.
The market is rapidly moving forward. Listings are dropping across the marketplace, foreclosures are falling at a 25% annual rate.  Everything your uncle is telling you is old news.

Why is what happens in the US market important?  Just look at the labour stats for the forestry sector.
Jobs are booming from the first time in ten years. Look at the stock chart for Canfor and Ainsworth.

See a pattern?
The first rule of investing is you can’t time the market.  The real estate market behaves the same way as the stock market but is less volatile and reacts over a longer cycle.
Rates are super low on mortgages. The market is soft. This is the best time in 10 years to buy.
Get pre-qualified, shop below your earnings, be a happy owning. That’s what we want for you.

Call us