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Vancouver Mortgages Interest Rate Trend

"There is no doubt there is a large grey one over the US and Europe. This past week has been especially precarious with huge ups and mostly downs in the stock markets that suffered a major free fall yesterday as a result of the credit rating down grade. That being said however, a small gain was made today with expected volatility to continue" comments Jared Dreyer Vancouver Mortgage Broker and Interest Rate Trend Analyst.

"Although there has been a very swift turn to the negative, we should be used to the turmoil since the fallout in 2008. It is important to note that Canada and US banks - to a lesser degree - are in a stronger position then the 2008 financial crises. The banks have billions on cash reserves and are much better prepared for financial difficulties. We are seeing the bond market go even lower and US debt even carries a negative return as there is that much demand to buy US debt.

As far as interest rates go, this is a sign that we are going to continue in a recorded low interest environment for an extended period o f time. Now is not a time to panic or let fear make your choices. Look at the log term view of your financial goals and make choices that fit within those parameters."