Happy Thanksgiving from all of us at CENTUM

As we look forward to Canadian Thanksgiving Day on Monday, October 11, we decided to take a look back to see how much has changed on this day in history. 

October 11, 1951 – the average five-year residential mortgage lending rate in Canada was 5.75 percent.

October 1960 – A gold buying rush, triggered by speculation of a devaluation of U.S. currency, pushes the free market price of gold up from $35.00 to $40.00 USD per ounce.

October 11, 1970 – The Vancouver Canucks claim their first win as an NHL expansion franchise, after joining the league for a franchise fee of six million dollars; that fee today is $80 million.

October 1980 – the average 5-year residential mortgage lending rate in Canada was 14.87 percent.

October 11, 1990 – The longest bull market on record begins in the U.S. according to the Stock Trader’s Almanac, lasting to mid-July 1998. The market gained nearly 295 percent in value.

October 11, 2000 – The price of crude oil is a topic of concern in international financial markets, after it rises above $32.00 USD per barrel.

October 11, 2010 – The 5-year mortgage lending rate at most major banks is 5.39 percent – the lowest since 1951.

Markets rise and fall, but there is one thing that never changes - and that is the joy of being surrounded by family, friends and children, and the opportunity to give thanks for life’s appreciating assets that can’t be measured.

Determine your potential mortgage payments using CENTUM mortgage calculators.
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