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Friday, August 26, 2011

Pull back on variable rate



I was saddened by the news of the passing of Jack Layton. Political views aside, I admired his commitment, courageous attitude and optimism. Just when he reached a pinnacle in his career...we must remember to always Treasure what you have...

We were invited to the Globefest to mingle and watch the specular fireworks from China. We were thankful the night was warm and the evening was a lot of fun.

Saturday was "birthday parties’ day" for us. We celebrated 2 little girls' 5th birthdays, and our good friend, Paul Talbot's 60th birthday. We had lots of fun.

The week will end with more fun at the splash park, a perfect activity for the hot summer days.

If you have not heard already, most of the banks have pulled back on the variable rate discount. RBC started the lead on it on Tuesday and every other bank followed. There’s still 1 bank that have not reduced it yet.

http://www.cbc.ca/fp/story/2011/08/23/5295104.html

With the increase of variable rate, it may make a 'medium' term rate more attractive.

Yet, some rumor has it that 'interest rate is set to fall'?

http://www.thestar.com/business/markets/article/1037066--interest-rates-set-to-fall

It should be a beautiful weekend coming up, enjoy!

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