Interest rates?

[frustrated1]

Anyone talk to their banker the past couple of days? Before Christmas there was spec rates could come down again in Jan. Haven't talked to my banker this week but seems it may be time to do some rearanging, possible expansion? (Or maybe it's just the fact the sun is out and it's not -30.)

[parsley]

Interest rates payouts for savings, GIC's is awful, awful, awful even with a bonus percentage.

A banker friend yesterday said that interest rates will probably be going down in January. Pars

[Hopperbin]

Banker was hinting that new loans would be like 1.75 over prime but now has softened to stay at .5 over on floating rates. If they are giving out .5 over prime I would guess that they will not as easily be willing to reduce their primes much more. 4 percent is a great rate with the near outlook not to rise so you should use floating rates, could always lock in if rates look to rise but for a price. I am done buying new land though.

[SASKFARMER3]

Friday went to FCC and Bank and Locked in loans that could with out a penalty some dropped 2.5% or Better one mortgage changed for $600.00. Low low rate now till done. Setting up the new tax free savings account for $5000.00 for both myself and wife. If farmer can remortgage of lower their rates now is the time. Also check out FCC for some deals.