There was an article in Sunday's New York Times about Jeffrey Gundlach, the new "Bond King" in the U.S. (replacing Bill Gross).  Gundlach is both brilliant and has been extremely accurate in his interest rate calls over the past 20+ years.  His most recent call?  he believes the U.S. 10 year will have a 6% yield in five years.  Canada can try all it wants not to follow suit, but at some point we will HAVE to begin the long awaited rise in interest rates.  What TD and RBC have recently done is just the beginning.  And how about the stats in Canada about 1/4 of homeowners have less than $1000 in the bank?  Or how we are now much more in debt but wealthier as well?  Really?  Based on what?  Housing prices,?  Which can't go up forever, and which people can "CURRENTLY" barely afford with rates where they currently are.  Don't forget, many people have lines of credit, and those rates aren't set at a fixed five year rate.  The days of cheap money are gone, and it's time to pay the piper!