The rates are staying as is until next year!!!The world economy is not showing any different!!!

United States

•         Fed Chairman Bernanke delivered a much-anticipated speech at the economic symposium in Jackson Hole.

•         The three main messages were that: first, addressing the structural issues that are impeding a stronger economic recovery in the U.S. – the housing market and long-term unemployment – are outside the realm of the Fed,

•         Second, the U.S. does need to address its long term fiscal difficulties, and;

•         Third, doing so should not prevent policymakers from providing more near-term fiscal stimulus.

                

Canada

•   Currently, most forecasters have pushed the timetable for an interest rate hike by the Bank of Canada by almost a full year. What’s more, there are market murmurings that the central bank could cut rates in the coming months.

•   Next week’s Canadian national accounts data will probably be interpreted by some observers as further ammunition for a rate cut, since it is almost certain to show that Canada’s growth rate was flagging heading into the recent financial turmoil. A good part of the softness, however, was the result of temporary factors relating to the auto supply disruptions.

•   Our forecast of real Canadian GDP growth point to a modest expansion of about 1.5% in Q3 and Q4. Although this modest growth profile is certainly not calling out for rate hikes in the foreseeable future, nor is it beckoning for reductions in short-term interest rates from the already-low 1%

Based on the following information it is a wise decision to make sure all maintained to control any more issues as best as can be done.

Right now we are giving the advanatage to our clients.

1 year fixed 2.65%…3 year fixed 3.25%…5 year fixed 3.24%…5 year fixed 3.09% when you buy a home with one of our approved realators.

Any questions or for more information check out www.NetworthMortgage.com.

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