Financial industry fears and hopes

The time of financially unstable world may be interesting or scaring,
but I think it's definitely better to have debts than savings now.

If US or Canadian government decides devaluate their currency it may bring a lot of chaos to markets (not financial markets only) but a dollar falling 50% makes your debt falling the same as well. And at the same time your savings fall the same time... if you keep them in mutual funds or just banks of course...

What is it for

Actually I wanted to post here some news from mortgage world with minimal comments of a non-professional next-door person.

Hopefully I will have more time doing this,
then will find these notes in 10 years so we'll laugh under them together.

For now Canadian CIBC bank offers 4.4% for 5 years fixed mortgage.
Honestly it's a bit better I have now (4.75% fixed) but my mortgage renewal is in December 2010 so it probably doesn't make sense to switch because the penalty may be higher than possible savings.