As reported by RNS on Christmas Eve, mortgage rates are continuing to drop and are now at their lowest in 37 years.

This is pretty astounding.

Obviously with recent troubles the real estate market is in a lot of trouble and banks also.

Our economy is so much dependant on debt it is somewhat scary and I am not sure how it can sustain itself and grow, in these times of recession.

Mortage help business and sites are now springing up, such as yourhome.ca – mortgage help in Canada, and hopenow.com; which is an alliance between approved counseling agents, servicers, investors and other mortgage market participants. Watch out though because it’s a safe bet that some are helpful, and others capitalizing on disaster.

If you have the funds and the financial security I guess there has not been a better time to buy, especially if you can secure a fixed rate mortgage.

They say finding the bottom of house prices though is like catching a falling knife, I am currently watching my home investments value dwindle away. I guess I am now stuck in my house for the long term and it’s a good job I like my home and I am currently happy with my location as if I had to move, and lose everything I had invested in the last 10 years AND have to deal with the fact that my invested savings have also fallen through the floor – my net balance after all of this would be pretty sad.

I am angry and bitter that no matter how much saving I do, I always end up losing it all, the last was almost all being lost in the downfall of high tech that started in around 2001.

So, what ever your decisions for 2009, get some good advice, and don’t invest more than you can afford.

The western world maybe dependant on debt but I am not.