Mortgage Predictions for the next 6 months, give it a try!!!!!

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Mortgage and Lending with Lynn Meldrum with Verico Canada First Mortgage

Hi all

 

I thought I would try this Blog again as I think it might be interesting what everyone thinks. 

 

I have been reading several different Canadian Economists discuss what is going to happen in the next year.  Last year some said that by the beginning of 2009 our interest rates might be at 7%.  As they are at an all time low, I might be losing some faith in our wonderfully educated Money Profilers.  So this year I have decided to make my own projections based on what I have seen in the past.  Be aware that I am not, or do not profess to be a expert.  I am just putting some educated guesses and I would like to hear others educated guesses and then we can check them out later in the year.

 

I educated guess is the the next meeting in March for the Bank of Canada will not show any changes in the prime rate and the meeting in June the Prime rate will drop by ¼%.

 

Love to hear from anyone else.

 

 

 

Lynn Meldrum

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Rainmaker
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Brien Berard
Remax Professionals Laurel MD - Laurel, MD
Maryland Real Estate Agents - Laurel Real Estate

My best guess is interest rates here for the next six months, will be between 4 and 6 percent.  I also predict that banks will find more and more creative ways to lend money and give people down payment money.  It is already happening.

Feb 09, 2009 07:43 AM #1
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Lynn Meldrum

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