I wanted to talk briefly about an article I read just the other day http://www.canada.com/business/fp/Central+banks+signal+rates+here+stay/1925037/story.html
The information was great news about mortgage rates. It states “”It seems more likely that there will be no increases in interest rates in any of the major economies over the next 12 to 18 months.”" Great news for everyone that is looking to renew or refinance their mortgage over the next year or so. Especially great news for those of us in the Windsor market. With unemployment as high as it is the low interest rates and the opportunity to refinance can only help us maintain cashflow at this point in time. I would recommend looking at one of three options for refinancing 1) take the variable rate (my favourite) 2) look at the 5 year fixed term (as low as 3.99% OAC today) or 3) look at a one year term. The options are endless.