yes

Interest Rates are needed in Canada, enough following the American Losers, Private Investors need to have better return for Our money We are the core of the economy, We create employment with Our investments and is unfair that We are getting nothing!

We are coming off the lowest interest rates in Canadian history right now. Rates have to go up from here, there is no doubt in the financial experts minds. The only thing that would stall this rate increase would be some real financial hardships in the future, and that may even backfire and raise rates. This being said if you ever wanted to lock your mortgage in this would be the time to do it. Sooner the better in my opinion. As for the effect on the Real Estate Market the increase in rates will cause a few buyers to rethink their future purchase BUT it will be temporary as we are still below the average fixed and variable rates and as the shock of any significant rate increase passes people will realize that the rates are still not that bad. If the rates start approaching double digits THEN we will see a significant effect on the Real Estate market. I hope this info helps, if you or any reader would like to discuss this topic or another in more detail please don`t hesitate to give me a call anytime. Abraham Niyazi - Mortgage Agent - Lic# M08010640 - Centum One Financial Lic# 10758 - Cell: 416-993-4082 - Office: 1-866-RATE-708 x 115 http://www.centum.ca/abraham_niyazi/ I have access to Banks/Lenders across Canada and 11 years experience in the industry.

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If so by how much?

yeah, they're going up, it's a matter of when, not if. this is what happens when the Federal Government meddles in the free market and the effects of all the "stimulus" spending. The FED is competing on the market to buy securities to keep the rates down, but at the same time it's pushing the 10 yr T-Bill rates upward and mortgage rates are tied to this T-Bill rate. At some point, the FED/Treasury's ability to "buy down" the rate in the market is going to be counterproductive. I personally thought that wouldn't happen until October/November, but as we all saw, it took place this week. Unfortunately, since people got shocked by the rate hike, the FED's going to step in and artificially "buy down" the rate which will make the next spike even higher. So the next option is for Treasury to print more funds to increase the supply in the market and decrease competition. But as we all know, an increase in the money supply without an increase in goods/services leads to inflation. An inflation will lead to higher interest rates. Now to make matters worse, GM just announced Chapter 11, along with Chrysler. Unemployment numbers will most certainly rise in June and July as both companies attempt to restructure. Again, I thought GM would hang in there until the holidays, but apparently not. So by the end of 2009, were going to have higher inflation, higher unemployment, and higher mortgage rates, all despite the effects of the FED or stimulus package which goes to show why Government should not get involved in "bailing" out companies. Had nothing been done, there would have been a sharp correction, but we'd be starting on our way to recovery now. As the situation stands now, there's no way the Obama Administration or Congress is going to be able to spin this positively.

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The housing crisis is unprecedented; the same way that the first $700 billion bail-out ratified in about a week time was. i know that the mortgage rates are at record 40- year low, but it is not enough! we should have the interest rates at lowest ever as an emergency, the same way as bail-out for big corporations was. when you bundle 5 million foreclosures, it should become "too big to fail", but it did not because no one as powerful as the treasury secretary (who listens to the wall street) could tell the president to stop the failures (for whatever reasons) now. to stop the foreclosures (over 1 million in 2010), the government must figure out a way to reduce the 30-year fixed long term mortgage rates to about 3%. there should be certain percentage of loans with even lower rates for a 5, 10, and 15 year terms.the percentage should be figured out based on a formula that the economy could absorb when the loans would become due and have to be refinanced. the longer the term of the loan, the less of a future problem since over time the inflation as well as the reduced principal of the mortgage loan would take away the risk. then, the mortgage payments would become affordable and it would become cheaper to own than rent. investors would snap the rest of the properties to rent them. the foreclosures would stop. the banks would be in better shape since the potentially bad loans would become good performing loans. more people would qualify for a new loan or refinancing since the payments are lower with the lower interest rates. now the government is trying to reduce and subsidize the principal amount of a loan to reduce monthly payments. this is not working since the home prices are falling further. if the interest rates go down, the property values will go up and payments become affordable at the same time. the wealth creation due to increased home values would stimulate the economy further. the guidelines for lending should be also modified to be more realistic without increasing risk. banks must participate in loan risks. fannie and freddie should have a very limited role. the banks are now paying record low interest for saving accounts and should use the money with some kind of an insurance added to mortgage fees and then banks could participate in loan risks based on more realistic criteria.for example, if a person has not been late during the past few years, he would not be posing a new risk if his mortgage loan interest rate go down resulting in lower payments. he should be automatically eligible for refinancing with the lower payments since he has been paying the higher payments throughout the most difficult period during the housing crisis. many big financial institutions got the government bailout money and manipulated the stock market to make record profit. other companies on wall street recovered fast due to interest rates being near zero. for example, ibm had record profit because like many other companies they could borrow at 1%. as it was reported. why can't the homeowners on the main street be treated the same way and given cheap money to turn around the housing foreclosures. if it was good for the wall street, it must be good for the main street. the reality is the lobbyist from big companies have more influence over the government decisions than the middle and working classes. there were over 1 million foreclosures last year and the suffering is unimaginable among the children of these group of people. there will be even more foreclosures in 2011, unless the interest rates go down further. if interest rates go down it will stimulate the housing industry. the jobs created by the housing industry with lower mortgage rates would benefit the main street and would bring down the unemployment rates. without housing recovery, the economy will not recover fast and the unemployment would remain high.the obama administration was perceived to be sensitive to the plight of people living on main street, but it made the wall street its first priority for recovery, may be rightfully so. now what? there is no excuse not tobe sensitive to foreclosure rates by letting it go through its normal attrition. the crisis was caused by the greed of wall street and "creative" and fraudulent packaging of the loans into securities. now the common people, with good or bad credit alike, have to pay the price by seeing the equity in their homes vanish. some of the inflated prices were unrealistic. on the other hand when is "enough" is enough. the suffering as a result of foreclosures have reached unacceptable levels in terms of human including innocent children. at least, the government should try as hard as it did to resolve the bankruptcy of aig, goldman sachs, citibank, gm, b of a, and others. in aggregate, the human suffering is the same as if one of the "too big to fail" companies. in other words, when you add a couple of millions of foreclosures together in a bundle, it

prime rate is an extremely short term loan and a completely different kind of loan than a home mortgage that may last 30 years. I have been in real estate since 1978 and have seen prime rate go up and at the same time the mortgage rate go down . They are not closely related at all.

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Interest rates have nowhere to go but up buzz up! 191 print on sunday april 11, 2010, 1:00 pm edt even as prospects for the american economy brighten, consumers are about to face a new financial burden: a sustained period of rising interest rates. that, economists say, is the inevitable outcome of the nation’s ballooning debt and the renewed prospect of inflation as the economy recovers from the depths of the recent recession. the shift is sure to come as a shock to consumers whose spending habits were shaped by a historic 30-year decline in the cost of borrowing. “americans have assumed the roller coaster goes one way,” said bill gross, whose investment firm, pimco, has taken part in a broad sell-off of government debt, which has pushed up interest rates. “it’s been a great thrill as rates descended, but now we face an extended climb.” the impact of higher rates is likely to be felt first in the housing market, which has only recently begun to rebound from a deep slump. the rate for a 30-year fixed rate mortgage has risen half a point since december, hitting 5.31 last week, the highest level since last summer. along with the sell-off in bonds, the federal reserve has halted its emergency $1.25 trillion program to buy mortgage debt, placing even more upward pressure on rates. “mortgage rates are unlikely to go lower than they are now, and if they go higher, we’re likely to see a reversal of the gains in the housing market,” said christopher j. mayer, a professor of finance and economics at columbia business school. “it’s a really big risk.” each increase of 1 percentage point in rates adds as much as 19 percent to the total cost of a home, according to mr. mayer. the mortgage bankers association expects the rise to continue, with the 30-year mortgage rate going to 5.5 percent by late summer and as high as 6 percent by the end of the year. another area in which higher rates are likely to affect consumers is credit card use. and last week, the federal reserve reported that the average interest rate on credit cards reached 14.26 percent in february, the highest since 2001. that is up from 12.03 percent when rates bottomed in the fourth quarter of 2008 — a jump that amounts to about $200 a year in additional interest payments for the typical american household. with losses from credit card defaults rising and with capital to back credit cards harder to come by, issuers are likely to increase rates to 16 or 17 percent by the fall, according to dennis moroney, a research director at the towergroup, a financial research company. “the banks don’t have a lot of pricing options,” mr. moroney said. “they’re targeting people who carry a balance from month to month.” similarly, many car loans have already become significantly more expensive, with rates at auto finance companies rising to 4.72 percent in february from 3.26 percent in december, according to the federal reserve. washington, too, is expecting to have to pay more to borrow the money it needs for programs. the office of management and budget expects the rate on the benchmark 10-year united states treasury note to remain close to 3.9 percent for the rest of the year, but then rise to 4.5 percent in 2011 and 5 percent in 2012. the run-up in rates is quickening as investors steer more of their money away from bonds and as washington unplugs the economic life support programs that kept rates low through the financial crisis. mortgage rates and car loans are linked to the yield on long-term bonds. besides the inflation fears set off by the strengthening economy, mr. gross said he was also wary of treasury bonds because he feared the burgeoning supply of new debt issued to finance the government’s huge budget deficits would overwhelm demand, driving interest rates higher. nine months ago, united states government debt accounted for half of the assets in mr. gross’s flagship fund, pimco total return. that has shrunk to 30 percent now — the lowest ever in the fund’s 23-year history — as mr. gross has sold american bonds in favor of debt from europe, particularly germany, as well as from developing countries like brazil. last week, the yield on the benchmark 10-year treasury note briefly crossed the psychologically important threshold of 4 percent, as the treasury auctioned off $82 billion in new debt. that is nearly twice as much as the government paid in the fall of 2008, when investors sought out ultrasafe assets like treasury securities after the collapse of lehman brothers and the beginning of the credit crisis. though still very low by historical standards, the rise of bond yields since then is reversing a decline that began in 1981, when 10-year note yields reached nearly 16 percent. from that peak, steadily dropping interest rates have fed a three-decade lending boom, during which american consumers borrowed more and more but managed to hold down the portion of their income devoted to payin

We're seeing an exact carbon-copy repeat of the Carter years thanks to people who were either not alive yet then or are denying that it ever happened so that they can feel GOOD about electing Obama.

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Liberal-conservative coalition we are being sent back to conservaitive britain 80s britain and the familys on disability living allowance and child benefit and child tax credit s . cuts child tax credit people on any benefits but this is how its going to worke •child tax credit - the child element of child tax credit will increase by £150 above indexation in april 2011 and £60 above indexation in april 2012 the amount of child benefit you'll get depends on how many children you’re entitled to get child benefit for, and the current rates of child benefit. when you start getting child benefit you'll get paid at the rates for the current year. the amount you receive usually goes up in april each year. the rates are as follows: who the allowance is for current weekly amount eldest or only child £20.30 additional children - per child £13.40 guardian's allowance - per child £14.30 what happens if two families join together, or a family splits? only one child in your family, or extended family, qualifies for the higher rate of child benefit. if two families join together, the eldest child is the one who qualifies for the higher rate. if you are entitled to child benefit for any other children in the new family you will get the lower rate for each of them. if a family splits up you can get the higher rate for your eldest child, as long as you still qualify for child benefit for them. •child tax credit - families earning more than £40,000/yr won’t get child tax credit from april 2011 •child benefit - rates will stay the same for three years •welfare reform - housing benefit and disability living allowance will be reformed to focus on those most in need •benefits and tax credits will be worked out using the consumer prices index instead of the retail prices index from april 2011.child tax credit - families earning more than £40,000/yr won’t get child tax credit from april 2011 and this unfaire on the people on the and wive the vat going up to 20% familys are ging to feel the pene and rich are going to get rich . the familys on benefits are going to pay .houseing benefits budget 2010 announced a package of reforms to housing benefit, including: •changing the way local housing allowances are worked out from october 2011 •uprating local housing allowances from 2013-14 using the consumer price index (cpi) •setting a maximum local housing allowance amount for each property size •from october 2010 support for mortgage interest payments will use an interest rate equal to the bank of england’s published monthly average mortgage rate •maximum limits on housing benefit (from £250 a week for a one-bedroom property to £400 a week for a four-bedroom or larger) •from april 2013, the size of houses for working age people in the social sector will reflect family size •reversing the freeze since 2001-02 in deductions for non-dependents – these will be uprated in april 2011 based on the consumer price index (cpi) •from april 2013 reducing housing benefit to 90 per cent after 12 months if you’re also getting jobseekers allowance •increasing the budget for hardship cases (discretionary housing payments) by £40 million covering the cost of an extra room for disabled claimants who need a carer•covering the cost of an extra room for disabled claimants who need a carer s and how is this going to worke for people on .benefits . the coalition and david cameron is macking the people pay more so he can not do any thing to help us just macke us pay more .images of haiti. the full impact of the earthquake is still emerging, but it’s clear that hundreds of thousands of people have either been killed or left homeless. it’s essential that this small nation gets the help it needs as quickly as possible. britain is an incredibly compassionate and generous nation. we showed that five years ago when the british public raised £350m in the wake of the boxing day tsunami, and i’ve no doubt we will show it again. the best way for you to help, if you haven’t already, is to donate directly to the disaster emergency committee. whether you can afford to give £5 or £500, it all makes a difference.and this is the income of people on rates disability living allowance is in two parts - the care component and the mobility component. you may be able to get just one component or both. care component weekly rate highest rate £71.40 middle rate £47.80 lowest rate £18.95 mobility component weekly rate higher rate £49.85 lower rate £18.95

Agreed = we can't afford to pay out to support other nations citizens when our own need help. Time to put a stop to all UK Taxpayer funded foreign aid...

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Http://www.politifact.com/truth-o-m eter/promises/rulings/promise-kept/ here's a site that list all the promises he has made and the ones he has accomplished so far.. here's a list of what he's done in a year. signed into law tax cuts for all middle income families, and 95% of all americans - check signed an arms control agreement with russia to dismantle nuclear weapons - check reauthorized schip to cover all children - check saved the entire stock market from collapsing (from a low point of a dow of 6000 within a month of obama taking office, to close to 11,000 just an year later, basically preventing millions of retirement accounts from getting wiped out) - check ended the ban on travel for people with hiv - check stopped the dismissals of homosexual individuals serving in the military by the pentagon (it's the first step to dismantling da,dt completely) - check ended the federal crackdown on medicinal marijuana centers in ca - check passed into law mortgage fraud protections - check ended the ban on stem cell research - check passed student loan reform, and used the savings to significantly increase financial aid loans and grants - check engaged in diplomatic dialogue with middle eastern countries, instead of using language like "axis of evil" that achieves nothing other than to piss them off some more. - check passed credit card reform (minimizing predatory lending, making the terms of credit cards clear, eliminating arbitrary rate increases) - check since the passage of the american recovery and reinvestment act of 2009, have had the new job loss numbers from their peak right as obama took office, go down steadily month after month, every single month like clockwork to the point that finally, this month is going to have job growth in the six figures (a trend expected to accelerate this whole year) - check reversed the ban on sending foreign aid to countries with legal abortions (the mexico city policy) - check signed the expanded hate crimes bill - check helped stem down employment discrimination by passing the lilly ledbetter act - check extended unemployment benefit, helping millions of americans stave off bankrupcy until the economy recovers - check drew down troops in iraq for a 2011 withdrawl date - check drew down gitmo detainees and making prepartations to close it by 2011 - check increased the forces in afganistan and brought to justice 500+ major al queda senior leaders in the past year (more than the bush administration brought in all eight years combined) - check saved the entire us auto industry (gm and chrysler) from going bankrupt thus preventing dozens of major factories and hundreds of dealerships from closing their doors - check saved banks from going bankrupt to the point that they're profitable again and have now paid back all of government loans and bailout funds in full and with interest - check signed into law, new mileage and emissions standard for cars and suvs - check working on education reform and financial regulatory reform so banks can't pull this crap again - the very next thing on his list... here's my source. http://www.dailykos.com/storyonly/2 010/3/30/852426/-so-hows-that-hopey ,-changey-thing-workin-out-for-ya i think i've covered it...so now that i've given proof and sources can we move on? oh wait..i'm sure the republicans will have some ignorant comment to make about his accomplishments..please, what did bush do in his 8 years that was as productive as obama's first year? lol lol lol lol lol oh and i will be voting obama in 2012 again..i really hope that irritates those that hate him..bahahaha!

Wasted trillions of dollars.

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Obama's 95% illusion it depends on what the meaning of 'tax cut' is. one of barack obama's most potent campaign claims is that he'll cut taxes for no less than 95% of "working families." he's even promising to cut taxes enough that the government's tax share of gdp will be no more than 18.2% -- which is lower than it is today. ap it's a clever pitch, because it lets him pose as a middle-class tax cutter while disguising that he's also proposing one of the largest tax increases ever on the other 5%. but how does he conjure this miracle, especially since more than a third of all americans already pay no income taxes at all? there are several sleights of hand, but the most creative is to redefine the meaning of "tax cut." for the obama democrats, a tax cut is no longer letting you keep more of what you earn. in their lexicon, a tax cut includes tens of billions of dollars in government handouts that are disguised by the phrase "tax credit." mr. obama is proposing to create or expand no fewer than seven such credits for individuals: - a $500 tax credit ($1,000 a couple) to "make work pay" that phases out at income of $75,000 for individuals and $150,000 per couple. - a $4,000 tax credit for college tuition. - a 10% mortgage interest tax credit (on top of the existing mortgage interest deduction and other housing subsidies). - a "savings" tax credit of 50% up to $1,000. - an expansion of the earned-income tax credit that would allow single workers to receive as much as $555 a year, up from $175 now, and give these workers up to $1,110 if they are paying child support. - a child care credit of 50% up to $6,000 of expenses a year. - a "clean car" tax credit of up to $7,000 on the purchase of certain vehicles. here's the political catch. all but the clean car credit would be "refundable," which is washington-speak for the fact that you can receive these checks even if you have no income-tax liability. in other words, they are an income transfer -- a federal check -- from taxpayers to nontaxpayers. once upon a time we called this "welfare," or in george mcgovern's 1972 campaign a "demogrant." mr. obama's genius is to call it a tax cut. the tax foundation estimates that under the obama plan 63 million americans, or 44% of all tax filers, would have no income tax liability and most of those would get a check from the irs each year. the heritage foundation's center for data analysis estimates that by 2011, under the obama plan, an additional 10 million filers would pay zero taxes while cashing checks from the irs. the total annual expenditures on refundable "tax credits" would rise over the next 10 years by $647 billion to $1.054 trillion, according to the tax policy center. this means that the tax-credit welfare state would soon cost four times actual cash welfare. by redefining such income payments as "tax credits," the obama campaign also redefines them away as a tax share of gdp. presto, the federal tax burden looks much smaller than it really is. the political left defends "refundability" on grounds that these payments help to offset the payroll tax. and that was at least plausible when the only major refundable credit was the earned-income tax credit. taken together, however, these tax credit payments would exceed payroll levies for most low-income workers. it is also true that john mccain proposes a refundable tax credit -- his $5,000 to help individuals buy health insurance. we've written before that we prefer a tax deduction for individual health care, rather than a credit. but the big difference with mr. obama is that mr. mccain's proposal replaces the tax subsidy for employer-sponsored health insurance that individuals don't now receive if they buy on their own. it merely changes the nature of the tax subsidy; it doesn't create a new one. there's another catch: because mr. obama's tax credits are phased out as incomes rise, they impose a huge "marginal" tax rate increase on low-income workers. the marginal tax rate refers to the rate on the next dollar of income earned. as the nearby chart illustrates, the marginal rate for millions of low- and middle-income workers would spike as they earn more income. some families with an income of $40,000 could lose up to 40 cents in vanishing credits for every additional dollar earned from working overtime or taking a new job. as public policy, this is contradictory. the tax credits are sold in the name of "making work pay," but in practice they can be a disincentive to working harder, especially if you're a lower-income couple getting raises of $1,000 or $2,000 a year. one mystery -- among many -- of the mccain campaign is why it has allowed mr. obama's 95% illusion to go unanswered. http://online.wsj.com/article/sb122 385651698727257.html

"You can fool some of the people some of th time, some of the people most of the time, but not all the people all of the time". -- quote from Abe Lincoln and Adlai Stevenson. Given the fact that 28 years of last 40 we've had a Republican sitting in the White House, with them being on vacation, lots of that time; and being that the GOP has controlled the Congress for about 8 of last 10 years, while our National Debt has doubled, who do you think has been doing the most "fooling"? I'm not going to be fooled any longer, not even by one of longest questions I've seen on YA for a long time, lol. If McCain wants to help the Middle Class, maybe he should have started a few weeks ago, mentioning how his programs and policies will actually help them. Long silence......... .............................................................................. ...................................... What we hear from McCain campaign is more attacks on Obama for his connection to John Ayers, when they both set on an Education Reform Committee, sit up with a grant from a Ronald Reagan fund, and had other Republicans sitting on the same committee. Wow, that's something the GOP thinks is important enough to spend millions on ads for, to win this election for them. Who's fooling whom now?

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I'm a little foggy about the exact plan so i gathered up a bit of info and quite frankly i still don't know if i'm for or against this budget. any thoughts? btw, here's some of what i collected: president obama introduced a $634 billion health care reserve fund, which will be used to benefit towards health care reform. however, the fund will likely exceed that amount over the next decade, possibly increasing up to one trillion. half the funding will come from improved efficiencies in medicare and medicaid, while the other half will be funded by raising income taxes and curbing tax deductions for families earning more than $250,000 a year (starting in 2011). improvements on medicare/medicaid will include: expansion of the hospital quality improvement program, improving the payment accuracy for medicare/medicaid, allowing more generic drugs on the market to reduce drug prices, increasing drug-rebate for brand-name drugs from 15.1% to 22.1% of average manufactures price, reducing medicare overpayments to private insurers through competitive payments, and incentivizing better health care that reduces lowering readmission rates. the obama administration anticipates raising $318 billion over 10 years from itemized deduction rates for families with $250,000 or higher income. the tax curbs will be on mortgage interest, charitable contributions, local taxes, and other expenses to 28 cents on the dollar, rather than the 40 cents they could claim otherwise.

Good JG