Canada tightens mortgage rules to stop housing bubble

[SirJosephPorter]

IN YOUR OPINION......:smile:

Really? Do you deny that Trudeau’s contribution will be remembered as long as Canada endures? Now, maybe some people don’t like him, but a great majority of Canadians have a high opinion of Trudeau (according to the last opinion poll before his death).

So maybe you don’t like him, but I don’t think even you would dispute that his contribution (constitution and the Charter) will be remembered as long as Canada endures.

 

[SirJosephPorter]

For short term safe investing I'd go into a mortgage fund or Gov't bond fund.

Those are mutual funds and they can go up and down, they can lose their value in the short term. Thus, if the interest rates rise, the bond fund will drop in value.

If you are looking for safe place to park your money (with total security), there is only the bank account or Money Marker Fund.

 

[JLM]

Those are mutual funds and they can go up and down, they can lose their value in the short term. Thus, if the interest rates rise, the bond fund will drop in value.

If you are looking for safe place to park your money (with total security), there is only the bank account or Money Marker Fund.

I've had mortgage funds for 30 years (not always the greatest) but you can't very well lose as the value rises as the interest paid falls and vice versa and the value has only fluctuated up and down about 2% in all those years. For a one year horizon they are an excellent investment.

 

[Dixie Cup]

How about purchasing silver - I can't afford gold at today's prices, so I'm thinking silver and other precious commodities??

 

[taxslave]

Here we go again another Conservative effort in futility.

The banks are the problem but the government will not address that issue.

The banks are only paying 2% to 3% for savings, which is ridiculous meanwhile they are making lots of money on credit card interest and ATM service fees and all the other service fees while using our money and they are paying very little.

The banks should be paying at least 8% to 9% on savings and term deposits.

It’s time to raise the interest rates so people can make more money on savings.

Since Canada is more stable, the banks should start to raise the interest rates so they can take advantage of foreign money coming into the country.

With new money coming into the country means new money for investments in new businesses that creates new jobs so the people can pay their mortgages and for the ones that can’t then it’s time to sell and downgrade.

Except for resource investors most other investors are bypassing Canada which means that this country losing growth opportunities.

Dumb idea. Raising interest rates only makes the lenders aka the rich richer and life more difficult for those who need to borrow to purchase large items like houses and cars. Also raises inflation. By keeping rates low but more stringent criteria for borrowing means that borrowers have an easier time making payments and have more disposable income to spend which increases economic activity without increasing inflation by demands for pay increases so the can afford a mortgage and groceries.

 

[VanIsle]

Dumb idea. Raising interest rates only makes the lenders aka the rich richer and life more difficult for those who need to borrow to purchase large items like houses and cars. Also raises inflation. By keeping rates low but more stringent criteria for borrowing means that borrowers have an easier time making payments and have more disposable income to spend which increases economic activity without increasing inflation by demands for pay increases so the can afford a mortgage and groceries.

Exactly. Good answer taxslave.

 

[JLM]

Exactly. Good answer taxslave.

You bet (Taxslave's posts are generally bang on)

 

[SirJosephPorter]

How about purchasing silver - I can't afford gold at today's prices, so I'm thinking silver and other precious commodities??

Gold, silver, platinum whatever, these are not long term investments. With metals, one must get in and get out at appropriate time, to make money.

 

[Dixie Cup]

Gold, silver, platinum whatever, these are not long term investments. With metals, one must get in and get out at appropriate time, to make money.

Aw poop! Don't have time to watch the markets as it is....sigh

 

[petros]

Quote: Originally Posted by Dixie Cup

How about purchasing silver - I can't afford gold at today's prices, so I'm thinking silver and other precious commodities??
​

Quote: Originally Posted by SirJosephPorter
Gold, silver, platinum whatever, these are not long term investments. With metals, one must get in and get out at appropriate time, to make money.

I hope you didn't take his advice on prceious metals. You would have lost out on gaining over 50% since this was posted in FEB2010