Many people think that the differences in how lenders calculate fixed-rate mortgage penalties are a non-issue now that rates have fallen to ultra-low levels. Nothing could be further from the truth.
This week's post is my latest Quarterly Mortgage Market Update. It focuses on the end of the world's four-decades old Debt Super Cycle and talks about why Canada is uniquely positioned to weather the deleverging period that we now find oursevles in. As usual, I also offer my view on where fixed and variable rates may be headed in the future.
The Bank of Canada Says That Rising Household Debt Levels Will Provide Economic Fuel, As Long As No One Lights A Match - Monday Morning Interest Rate Update (January 23, 2012).