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.