A reminder for those borrowing that the rates won't last forever. I know I personally bought a bit more than I should have, and I was definitely enticed by the low rates. I have 4 years left until I have to renew my mortgage, and I have no idea what the rate will be when that day comes. All I know is I want as many things paid off as possible before then.
Bank of Canada Governor Mark Carney is telling people to smarten up. It's like he's talking to me when he's giving his speeches. Actually, he is talking to me. Me and everyone else who has access to cheap credit. When inflation hits again, I'll know full well that I was warned. Hopefully I can get myself into a position where I've properly heeded his warning, the guy knows what he's talking about.
I have a little personal finance crush on Mark Carney. Can you blame me?