Comments on: Vancouver B.C. Real Estate – Interest Cuts, But Not for YOU http://www.yattermatters.com/2008/10/vancouver-bc-real-estate-interest-cuts-but-not-for-you/ Insight on Vancouver Real Estate Sat, 11 Feb 2012 00:35:15 +0000 hourly 1 By: julie http://www.yattermatters.com/2008/10/vancouver-bc-real-estate-interest-cuts-but-not-for-you/comment-page-1/#comment-6202 julie Thu, 23 Oct 2008 19:03:20 +0000 http://www.yattermatters.com/?p=873#comment-6202 Haha! That will teach you for getting up so early to write in your blog!! :) Next time you won't be so keen. And, hopefully anyone that needs a mortgage would wait a day after a rate drop before they sign on the dotted line (but rush to sign the second there's word of a rise!!!). Have a good day! Haha! That will teach you for getting up so early to write in your blog!! :) Next time you won’t be so keen.
And, hopefully anyone that needs a mortgage would wait a day after a rate drop before they sign on the dotted line (but rush to sign the second there’s word of a rise!!!).

Have a good day!

]]> By: yattermatters http://www.yattermatters.com/2008/10/vancouver-bc-real-estate-interest-cuts-but-not-for-you/comment-page-1/#comment-6169 yattermatters Wed, 22 Oct 2008 16:30:45 +0000 http://www.yattermatters.com/?p=873#comment-6169 Julie, The gas station analogy is perfect. In the interim the cumulative interest differential earned by the big five 'during the period taken to adjust rates' costs the little guy a lot of money. Example is signing up for a 5 year mortgage at 10:00 a.m. with a rate of 5%. Had the borrower waited till 5:00 pm they would have a lower rate of (using your TD example of - 0.35 % ) ending up with a rate of 4.65% for the same term. During the term of the mortgage of 5 years that's a lot of dollars! BTW: Same applies to the submission of this post. At 6:00 a.m. I am right, at 4:00 p.m I'm wrong. I should have just given blood to the Red Cross. :) Julie,

The gas station analogy is perfect.

In the interim the cumulative interest differential earned by the big five ‘during the period taken to adjust rates’ costs the little guy a lot of money.

Example is signing up for a 5 year mortgage at 10:00 a.m. with a rate of 5%. Had the borrower waited till 5:00 pm they would have a lower rate of (using your TD example of – 0.35 % ) ending up with a rate of 4.65% for the same term.

During the term of the mortgage of 5 years that’s a lot of dollars!

BTW: Same applies to the submission of this post.

At 6:00 a.m. I am right, at 4:00 p.m I’m wrong.

I should have just given blood to the Red Cross. :)

]]> By: julie http://www.yattermatters.com/2008/10/vancouver-bc-real-estate-interest-cuts-but-not-for-you/comment-page-1/#comment-6165 julie Wed, 22 Oct 2008 16:07:34 +0000 http://www.yattermatters.com/?p=873#comment-6165 I hear that the banks are now dropping rates... TD dropped .35 http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2008/10/td-drops-prime-to-400.html It's like gas stations... price of oil drops and it takes them a few days to lower it... squeezing whatever profits they can out of a delay to respond to the market, but if the prices go up they respond immediately. :) I hear that the banks are now dropping rates… TD dropped .35

http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2008/10/td-drops-prime-to-400.html

It’s like gas stations… price of oil drops and it takes them a few days to lower it… squeezing whatever profits they can out of a delay to respond to the market, but if the prices go up they respond immediately. :)

]]> By: Kitsilano.ca - Kits’ Neighbourhood blog. » Price reductions continue for Kits’ Condos http://www.yattermatters.com/2008/10/vancouver-bc-real-estate-interest-cuts-but-not-for-you/comment-page-1/#comment-6142 Kitsilano.ca - Kits’ Neighbourhood blog. » Price reductions continue for Kits’ Condos Tue, 21 Oct 2008 21:20:04 +0000 http://www.yattermatters.com/?p=873#comment-6142 [...] the financial meltdown to settle into a positive direction. Bank prime rates are favorable with an expected reduction in the BOC rate [...] [...] the financial meltdown to settle into a positive direction. Bank prime rates are favorable with an expected reduction in the BOC rate [...]

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