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    CMP Mortgage Summit

    « Stats on Women Buyers - TD Poll | Main | Subprime Options Dwindle Again »

    March 11, 2008

    Export-driven Rate Reductions

    export-problems They say Canada isn't as dependent on the U.S. as it once was.  Nonetheless, exports of our automotive products have fallen 23% over the last three months, the largest decline since the end of the U.S. recession in 1982.  Exports of non-automotive consumer goods have fallen 13.8% in the same timeframe, "the largest decline for the nearly 30 years we have data," says TD senior economist Richard Kelly.

    All of this explains partly why the Bank of Canada cut rates 1/2% on March 4.  Now economists are expecting another 1/4% to 1/2% drop in prime rate on April 22.

    It's sad that our economy is at risk to this degree, but there is a bright side from a mortgage perspective.  It's truly a great time in history to be in a variable-rate mortgage.  (Just make sure you're not adverse to locking in if need be.)


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    Canadian Mortgage Trends (CMT) delivers the latest mortgage news in Canada for homeowners, online mortgage brokers, and real estate professionals. Legal Information: Consult a qualified mortgage advisor before making any mortgage decision based on information you read here. Similarly, if you see a financial or tax strategy discussed here, always consult a licensed and qualified investment or tax advisor to ensure the strategy is right for you. Mortgages, investment, and tax strategies mentioned on this website are not appropriate for everyone. In many cases, they may not be feasible at all and/or entail serious risks. While reasonable effort is made to ensure the accuracy of information and data contained herein, accuracy, facts, completeness, and suitability can not be guaranteed. Past performance is not a good predictor of future performance. Results, rates, strategies, and terms are not guaranteed and CMT and its affiliates assume no liability for any losses that may occur from your reliance on such information. The information on this site reflects purely our opinions, and not necessarily the opinions of any other party. Readers are welcome and encouraged to leave comments. Please note, however, that CMT endeavours to keep all forums factual and civil for the benefit of readers. Comments that are off-topic, quarrelsome, accusatory without evidence, factually incorrect by objective standards, racially insensitive, profane, slanderous, misleading, made with false email addresses, made under multiple pseudonyms or different names from the same IP address, or otherwise rude or deemed inappropriate by CMT, may be removed without notice. To reduce incidences of SPAM, linking to or promoting individual brokers is not permitted. CMT is a news site, and not affiliated with most of the people or companies mentioned. Company logos and trade-marks displayed herein are the property of their respective owners, are displayed for commentary purposes only, are not intended to be used in a competitive manner with said owner, and should not imply an association or affiliation between CMT and said trade-mark owner or its products or services. Information herein is not intended to be, nor does it constitute, mortgage advice, investment advice, tax advise, financial advice, recommendations, or solicitations to buy or sell securities. CMT personnel and related parties may have an interest in the mortgages, services, companies, products, or securities mentioned on this site. Please contact us if you require clarifications of the above. CMT's website is owned and operated by McLister Media Inc. CMT's trademark and copyrights are used by McLister Media Inc. under license. For questions about the news you see here, mortgages, copyright, or republishing CMT content, please contact us at (800) 280-2460 or info@canadianmortgagetrends.com. Thank you for reading CMT. ISSN# 1927-8772. Copyright 2012. All rights reserved.