Alberta Mortgages

Mortgage Newsletter

2012-01-25T09:51:00.002-07:00

Wednesday, January 25, 2012

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.74%
2 Years	3.85%	2.74%
3 Years	4.05%	2.89%
4 Years	4.79%	2.99%
5 Years	5.29%	3.19%
7 Years	6.35%	3.99%
10 Years	6.75%	3.89%
VIRM	3.00%	2.90%
The prime rate is 3.00%

Contact Info:

Shawn Mooney
(403) 945-8769
Toll Free 1-866-215-1670
mortgages@shawnmooney.com
Website: http://www.shawnmooney.com

Current News:

Buy now to get an unheard-of rate
Jan 17, 2012— There's a brilliant reason to get into our expensive and quite possibly weakening housing market right now. A 10-year mortgage is now available for under 4 per cent. You can thank the banks for this unheard-of rate. In the past week or so, competition between them on mortgage rates has gone nuclear.
Connect the housing bubble dots
Jan 23, 2012— A few months ago I heard leading Canadian investor Eric Sprott speak, and he said a very basic thing that struck a chord. He said that you should not be afraid to connect the dots. The dots are usually in front of you, but people donâ€™t often look beyond the single dot.
Time ripe for mortgage move
Jan 23, 2012— Local mortgage brokers aren't expecting a flood of inquiries but say the time may be ripe for those with a stable income who are buying, renewi ng their mortgage or aren't looking at major penalties to refinance.
Home sales rise 1.8% in December
Jan 16, 2012— National resale housing activity continued to rise in December, up 1.8 per cent compared with November, the Canadian Real Estate Association said Monday.

Bank of Canada Meeting

2012-01-17T11:04:00.002-07:00

Check out the following link for news related to the bank of Canada's meeting today. Basically, the overnight lending rate has remained unchanged for the 12th consecutive time.

http://www.bankofcanada.ca/2012/01/press-releases/fad-press-release-2012-01-17/

Bi-Weekly Newsletter

2012-01-10T13:32:00.000-07:00

Wednesday, January 11, 2012

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.84%
3 Years	4.05%	2.99%
4 Years	4.79%	3.19%
5 Years	5.29%	3.24%
7 Years	6.35%	3.99%
10 Years	6.75%	4.49%
VIRM	3.00%	2.80%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

Serving Alberta
(403) 945-8769
Toll Free 1-866-388-1838

Current News:

RBC, BMO warn on housing
Jan 10, 2012— The heads of Royal Bank of Canada and Bank of Montreal told an investor conference in Toronto Tuesday morning that a softer housing market is a concern across the country, with particular focus on the condo markets in Toronto and Vancouver, where capacity is significantly overbuilt.
Highlights from strong December housing starts
Jan 10, 2012— Much of the surge in housing starts in the latest period can be attributed to the much-maligned condo market, with the volatile urban multiples component leading the way wit h a robust 14.5% increase to 111,300 units. Single-unit dwelling starts, by contrast, only increased by 3.8% to 70,600 units while rural starts dropped 10.3% to 18,300 units. Condos still king in 2011.
Debt still rising, but lower credit card debt
Jan 10, 2012— Canadians are paying off more of their credit card debt as they cope with a weaker economy and some restrictions on credit expansion. The latest national credit trends report from Equifax Canada, released early Tuesday, says the average credit card debt fell in 2011 by 3.4 per cent.
Housing prices to increase in 2012
Dec 31, 2011— Builders have been consistent in their message to consumers: If you've been waiting for house prices to come down, you're waiting in vain. As the industry gets set for the first business day of 2012 on Tuesday, the message is that prices will be going up.

Todays Ad

2012-01-09T08:56:00.003-07:00

Weekly Newsletter

2012-01-03T12:54:00.001-07:00

Tuesday, January 3, 2012

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.84%
3 Years	4.05%	2.99%
4 Years	4.79%	3.19%
5 Years	5.29%	3.29%
7 Years	6.35%	3.99%
10 Years	6.75%	4.49%
VIRM	3.00%	2.80%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

Serving Alberta

(403) 945-8769

Toll Free 1-866-388-1838

Current News:

· Commercial real estate chugs ahead
Jan 03, 2012 — If 2010 was the year that Canada's commercial property market largely thrived - rather than imploding, as many industry watchers had predicted - 2011 will likely go down as another year that exceeded expectations.

· Housing prices to increase in 2012
Dec 31, 2011 — Builders have been consistent in their message to consumers: If you've been waiting for house prices to come down, you're waiting in vain. As the industry gets set for the first business day of 2012 on Tuesday, the message is that prices will be going up.

· Real estate bubble in 2012? Nah
Dec 31, 2011 — As global housing markets coughed and sputtered in 2011, Canada's barreled ahead, even turning a few nervous heads along the way. Is there really a cause for alarm? Are we doomed to ride this white-knuckled rollercoaster in 2012? Probably not, according to Benjamin Tal, deputy chief economist of CIBC.

· IMF calls for review of CMHC risk management
Dec 23, 2011 — The International Monetary Fund is calling for a review of the rules that govern Canada Mortgage and Housing Corp. to ensure there is sufficient oversight of the Crown corporation.

Weekly Newsletter

2011-12-28T10:46:00.000-07:00

Wednesday December 28, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.84%
3 Years	4.05%	2.99%
4 Years	4.79%	3.19%
5 Years	5.29%	3.29%
7 Years	6.35%	3.99%
10 Years	6.75%	4.49%
VIRM	3.00%	2.80%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

Serving Alberta

(403) 945-8769

Toll Free 1-866-388-1838

Current News:

· Credit cards make Christmas merry
Dec 23, 2011 — In a Christmas season marked by growing economic malaise around the world, Canadians are defiantly fighting back with the best weapon they have: their credit cards.

· Housing correction big risk for Canada
Dec 22, 2011 — The Canadian housing market is at risk of a price correction and remains the chief domestic vulnerability to the country's economy in the new year, according to two new reports.

· Canadian home price index flat in October
Dec 21, 2011 — Canadian home resale prices slipped in October from September, the latest sign the country's once hot housing market is cooling further. The Teranet-National Bank Composite House Price Index, which measures price changes for repeat sales of single-family homes in 11 major cities, showed overall prices were down 0.04 percent in October from September.

Happy Holidays

2011-12-22T20:48:00.002-07:00

Weekly Newsletter

2011-12-21T10:46:00.001-07:00

Wednesday, December 21, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.84%
3 Years	4.05%	2.99%
4 Years	4.79%	3.19%
5 Years	5.29%	3.29%
7 Years	6.35%	3.99%
10 Years	6.75%	4.49%
VIRM	3.00%	2.50%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

Serving Alberta
(403) 945-8769
Toll Free 1-866-388-1838

Current News:

Inflation steady as gas price hikes ease
Dec 20, 2011— Overall, Statistics Canada said prices rose in all eight major components it tracks and in every province in Canada. The inflation rate has been above the Bank of Canada's two per cent target for more than a year now.
Manulife downgraded
Dec 20, 2011— RBC Capital Market is lowering its outlook for the Canadian life insurance sector, including a downgrade of Manulife Financial Corp., to reflect expected volatility in equity markets and low interest rates for upcoming quarters.
Canucks dominant interest in U.S. market
Dec 19, 2011— When it comes to international interest in U.S. real estate, the vast majority of it is coming from Canada. Canada-based real estate technology and marketing company Point2 released its third quarter results, showing Canadian traffic generated the highest number of online visits to all top ten states identified in the report.
Market demand drives growth in Vancouver
Dec 19, 2011— The Greater Vancouver Real Estate Board described November sales and listing activity as typical. If you've lived in Vancouver for a while, that might have you scratching your head, especially when it's followed by news that November sales were 5.8 per cent below the 10-year average. Now that's the Vancouver real estate market I know.

Weekly Newsletter

2011-12-13T15:17:00.002-07:00

Teusday December 13, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.84%
3 Years	4.05%	2.99%
4 Years	4.79%	3.19%
5 Years	5.29%	3.29%
7 Years	6.35%	3.99%
10 Years	6.75%	4.49%
VIRM	3.00%	2.80%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

Serving Alberta
(403) 945-8769
Toll Free 1-866-388-1838

Current News:

Household debt climbs amid stagnant incomes
Dec 13, 2011— Canadian households are drowning in debt. According to a new report released Tuesday, Canada's household debt has reached a record high in part to stagnant income and individuals taking on more debt.
Do you need cash for your retirement?
Dec 13, 2011— What if you saved for retirement, only to find when you left the work force that you don't have enough income to cover your needs and wants? One of the most attractive options is to tap into the equity in your home through a reverse mortgage, or a home-equity line of credit.
How the rich are investing in real estate now
Dec 12, 2011— I was catching up on a backlog of reading last weekend when I came across an interesting, if worrisom e, article in The Economist. In it, the British news-magazine suggested the Canadian real estate market is overvalued by 25 per cent or more, and is now "frothier" than the U.S. market was at its peak in 2008.
Decline slowing in Canada: OECD
Dec 12, 2011— All major economies are losing momentum, the Organization for Economic Cooperation and Development said on Monday, with activity across the think tank's member countries at its weakest in two years.

Weekly Newsletter

2011-12-06T12:22:00.001-07:00

Tuesday, December 6, 2011

Current Rates:

Terms	Banks	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.05%	3.09%
4 Years	4.79%	3.19%
5 Years	5.29%	3.34%
7 Years	6.35%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.80%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

Serving Alberta
(403) 945-8769
Toll Free 1-866-388-1838

Current News:

BoC holds rates, cites deeper euro crisis
Dec 06, 2011— The Bank of Canada kept its overnight interest rate at 1 percent on Tuesday, as expected, and gave no suggestion of an impending rate cut even though its view of the European debt crisis has clearly darkened.
Housing market to continue to defy logic
Dec 06, 2011— Even one of Canada's leading real estate companies agrees the rising housing market may not appear to make much sense. But appearances are deceiving and Re/Max says both sales and average prices will continue to climb in 2012.
Canada's building permits soar in October
Dec 06, 2011— The value of Canadian building permits unexpectedly soared by 11.9% in October from September, as strength in the populous province of Ontario helped end three consecutive monthly falls, Statscan data indicated on Tuesday.
Fixed-rate mortgage could be your best bet
Dec 05, 2011— It's a decision that millions of Canadian homeowners struggle with repeatedly during their time as homeowners: Do they choose the security o f a fixed-rate mortgage, or opt for the flexibility (and usually lower cost) of a variable rate and hope that rates don't spike higher? But right now, conditions in the mortgage market mean homeowners can actually get the best of both worlds, according to market-watchers.

Weekly Newsletter

2011-11-30T09:41:00.001-07:00

Tuesday, November 29, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.05%	3.19%
4 Years	4.79%	3.09%
5 Years	5.29%	3.29%
7 Years	6.35%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.90%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· Growth of mortgage debt slows: CMHC
Nov 29, 2011 — The rate at which Canadians have been racking up new mortgage debt has slowed in recent months, lending credence to the theory that the country's housing market will hold up, Canada Mortgage and Housing Corp. suggests.

· Sun Life to cut dividend?
Nov 28, 2011 — The market is increasingly speculating that Sun Life might have to shave its dividend, as low interest rates and tumultuous markets continue to rattle life insurers.

· Markets storm out of the gate
Nov 28, 2011 — North American markets stormed ahead Monday morning buoyed by record shopping south of the border and rumours of progress on Europe. The Dow and TSX both picked up 245 points on open.

· Loonie rebounds with markets
Nov 28, 2011 — The Canadian dollar rebounded from a seven-week low against its U.S. counterpart on Monday as the euro and world stocks rallied on hopes that European leaders would make progress on resolving the credit crisis.

Weekly Newsletter

2011-11-22T16:29:00.001-07:00

Tuesday, November 22, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.05%	3.19%
4 Years	4.79%	3.19%
5 Years	5.29%	3.29%
7 Years	6.35%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.60%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· Top tips to make your home tip-top
Nov 21, 2011 — With 12 years of experience in the real estate industry and having bought, renovated and resold 54 homes, Shirley Evans knows how to take even the smallest of houses and turn it into a functional home.

· Break fees: The banks' gain is your pain
Nov 21, 2011 — They say that a good financial consumer should ask questions and be able to get clear and open answers. When it comes to mortgage breakage fees, there is a secret ingredient that the lenders don't feel an obligation to share. This is wr ong and must be changed by law. Here is my story.

· Household finance is like a diet
Nov 21, 2011 — November is financial literacy month, and Canadians are being showered with good advice. Pay more than the minimum amount on your credit card bills. Invest in RRSPs, TFSAs, and RESPs. And, above all, keep a budget.

· Commercial real estate investment soars
Nov 21, 2011 — Investment in Calgary's commercial real estate market soared in the third quarter of this year. A report by RealNet Canada Inc. says there were 90 transactions over $1 million totaling just over $1 billion in the quarter compared with 62 transactions for $628 million in the second quarter of this year.

Weekly Newsletter

2011-11-16T10:23:00.001-07:00

Tuesday, November 15, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.05%	3.09%
4 Years	4.79%	3.09%
5 Years	5.29%	3.34%
7 Years	6.35%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.90%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

Serving Alberta
(403) 945-8769
Toll Free 1-866-388-1838

Current News:

Putting homes at risk with lines of credit
Nov 15, 2011— Debt-ridden Canadians may be enamoured with home equity lines of credit but many are using them as a quick, easy way to borrow without really understanding how they work.
Home sales, prices continued to rise in October
Nov 15, 2011— Canadians continued to buy more houses - and pay more for them - in October, according to a monthly report from the Canadian Real Estate Association released Tuesda y.
How to qualify for a brand new mortgage
Nov 14, 2011— If you have just graduated from university with student debts, the prospect of buying your own home may seem remote. Advisors suggest formulating a plan early on to help get on track to qualify for that mortgage.
Debt's dirty dozen danger signs
Nov 14, 2011— If there's one plaintive cry you tend to hear again and again from credit counsellors, it's this: "If only our clients had come to see us sooner." By the time many people actually ask for help, their debt problems are so huge that their credit ratings are in tatters and some solutions may no longer be an option.

Full Page Ad

2011-11-14T08:49:00.001-07:00

Weekly Newsletter

2011-11-08T13:12:00.001-07:00

Tuesday, November 8, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.05%	3.19%
4 Years	4.79%	3.19%
5 Years	5.29%	3.39%
7 Years	6.35%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.60%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· Housing starts dip in October
Nov 08, 2011 — "Overall housing starts are expected to moderate in line with demographic fundamentals," Mathieu Laberge, deputy chief economist at CMHC's Market Analysis Centre, said in a news release. A 6,000-unit drop in single detached starts in urban areas caused the fall, Laberge said. Urban starts account for about 90 per cent of all starts.

· Global cash at risk of drying up: Carney
Nov 08, 2011 — Bank of Canada governor Mark Carney, warned on Tuesday that the world was "on the cusp of another retrenchment" in liquidity, and urged careful management of Eu ropean bank recapitalization to limit the effects.

· Home value has doubled since 2000: report
Nov 07, 2011 — Re/Max says since 2000, the average value of a Canadian home has doubled, rising from $163,951 to $339,030 in 2010. A report from the real estate organization says that billions spent in new construction, renovation and renewal have pushed up the average residential price in the country's major centres.

· Homebuyer with huge bill not told about old leak
Nov 07, 2011 — A homebuyer from Victoria, B.C., is upset over being hit with $50,000 worth of unexpected repairs to his basement, after the seller and his realtor didn't tell him about previous water leakage problems.

Weekly Newsletter

2011-11-01T12:19:00.002-06:00

Tuesday, November 1, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.35%	2.99%
4 Years	4.19%	3.09%
5 Years	5.29%	3.29%
7 Years	6.16%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.80%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

Current News:

· This mortgage can make your reno happen
Nov 01, 2011 — "Most banks will give you a line of credit of up to 80 per cent of the market value of the property, whereas the PPP/CMHC-insured mortgage can go up to 95 per cent of the improved value of the property, so it provides a way for homeowners who've only got 5 per cent of the down payment to be able to buy the home they want and improve it as well,â€ says Tina Tehranchian CFP financial advisor at Assante Capital Management Ltd.

· World recovery faces pivotal week - Carney
Nov 01, 2011 — Bank of Canada Governor Mark Carney testifies before the House of Commons Finance Committee this morning, in what is shaping up to be a pivotal week for him as well as for the global recovery.

· Loonie tumbles two cents on Europe
Nov 01, 2011 — The Canadian dollar tumbled more than two cents against the U.S. dollar Tuesday, slipping back below parity as fears over the eurozone debt crisis and the collapse of broker-dealer MF Global darkened the outlook for the global economy.

· Consider downsizing for retirement
Oct 30, 2011 — The first wave of baby boomers will turn 65 thi s year, but many may not be ready for retirement. A recent poll from CIBC reveals that nearly half (46 per cent) of our country's baby boomers still carry a mortgage and 75% still carry additional debt.

Weekly Newsletter - Bank of Canada Rate Remains Unchanged

2011-10-25T12:58:00.002-06:00

Tuesday, October 25, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.35%	2.99%
4 Years	4.19%	3.09%
5 Years	5.29%	3.29%
7 Years	6.16%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.50%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· BoC holds interest rate, warns of risks ahead
Oct 25, 2011 — The Bank of Canada kept its key lending rate at 1 per cent on Tuesday, suggesting it believes the economy is still fragile and isn't ready for a bump in interest rates. The statement that accompanied the interest rate announcement warned of gloomy days ahead and said Europe will most likely enter a brief recession.

· Is it time to lock into a fixed-rate mortgage?
Oct 25, 2011 — It's one of the most agonizing decisions homeowners make: Do you go fixed or variable? Mortgage, that is. The decision could end up costing, or saving, big bucks on what is often the single biggest purchase many will make. Research shows that, in the past, a variable-rate mortgage has been cheaper than a fixed-rate one.

· Merged mortgage accounts mean savings
Oct 24, 2011 — When it comes to finances, many of us are content to go the traditional route and have our mortgage, savings and chequing facilities in separate accounts. However, a number of financial institutions offer all-in-one products in which all these accounts are merged. Such accounts start off as a secured line of credit, advancing up to 80% of the value of the property, and as the mortgage principle is reduced, the available line of credit funds increase.

· To buy or rent: that is the question
Oct 24, 2011 — In a report earlier this year, Royal Bank of Canada chief economist Craig Wright suggested home ownership for a growing number of Canadians has become an impossible dream. That's certainly true in Vancouver, where the affordability index is at record highs, with the average home price at nearly 10 times the median income.

My Weekly Newsletter

2011-10-18T12:23:00.001-06:00

Tuesday, October 18, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.35%	2.99%
4 Years	4.19%	3.09%
5 Years	5.29%	3.29%
7 Years	6.16%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.50%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· Lessons from the crisis
Oct 18, 2011 — The Toronto condo market appears to be overheating and could soon be flooded with excess supply. The market for condominiums in Canada's biggest city could undergo a 15% correction and stagnant construction over the next several years, Ryan Bohren and Sheryl King, economists with Bank of America Merrill Lynch Global Research, said in a report.

· Resale home sales seen as bright spot
Oct 18, 2011 — Existing home prices in Canada continued to increase last month, although the gains recorded were the smallest since January.

· Rock-bottom rates darken Sun Life's outlook
Oct 18, 2011 — Interest rates are like air to life insurance companies. With rates as low as they have been for the past few months, the whole industry is struggling for breath.

· Millions set to flow back to Manulife investors
Oct 18, 2011 — When Mr. D'Alessandro retired in the spring of 2009, shortly after the financial crisis caused the company's stock to plummet from more than $37 to $20, he told the insurer's board of directors that he would forgo $10-million in restricted share units unless Manulife shares hit $36 by the end of 2011. They closed yesterday at $12.34.

Weekly Newsletter

2011-10-11T12:14:00.001-06:00

Tuesday, October 11, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.35%	2.99%
4 Years	4.19%	3.09%
5 Years	5.19%	3.29%
7 Years	6.16%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.50%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· Now is the time for a fixed-rate mortgage
Oct 11, 2011 — A recent Bank of Montreal study says that variable-rate mortgages have worked out to be better than fixed-rate mortgages 83 per cent of the time since 1975. I believe we are now in the 17 per-cent zone. Here are three key reasons:

· Retirement-bound Canadians piling on debt
Oct 11, 2011 — Older Canadians are nearing or entering retirement more indebted than ever before, piling on debt at a much faster pace than their younger counterpar ts, according to a report from TD Economics.

· Canada's home building steams ahead
Oct 11, 2011 — Home construction rose more than expected in September, led by multiple-units activity, according to Canada Mortgage and Housing Corp. CMHC said Tuesday that housing starts totalled a seasonally adjusted 205,900 units during the month, following an upwardly revised 191,900 units in August.

· Canadian building permits plummet
Oct 06, 2011 — Building permits fell in August for the second straight month, with Ontario seeing the biggest declines in both residential and non-residential activity, Statistics C anada said Thursday.

Full Page Advertisement 05-Oct-11

2011-10-04T16:58:00.003-06:00

My Weekly Newsletter

2011-10-04T12:44:00.000-06:00

Tuesday, October 4, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.35%	2.89%
4 Years	4.19%	2.99%
5 Years	5.19%	3.39%
7 Years	6.16%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.50%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· Calgary real estate to fare better: CREB
Oct 04, 2011 — "Undoubtedly, there are a lot of unknowns in the world's current financial situation, but Calgary and Alberta may be relatively safe havens amidst this uncertainty," said Bob Jablonski, CREB president. "Granted, gains in the housing market have been gradual - but we are seeing signs of improvements. Our province's growth is expected to outperform the national average, and this will help buoy consumer confidence in Calgary and Alberta."

· Canadian real estate investors upbeat
Oct 04, 2011 — Property. Calgary is among the prime markets in Canada to buy commercial real estate property, according to a global report released Monday. The Colliers International global investor sentiment survey said no single city or province dominates where investors plan to buy over the next 12 months.

· Tweet me that house
Oct 04, 2011 — The Canadian launch of Better Homes and Gardens Real Estate (BHGRE) runs counter to conventional wisdom in the industry, which holds that individuals can do just fine selling their home by using social media and leveraging newly granted access to the Multiple Listings Service website owned by the Canadian Real Estate Association.

· Flaherty 'relatively confident'
Oct 04, 2011 — Markets are dropping steeply, demand for Canada's oil is waning and the loonie's value no longer hovers above the greenback - but Jim Flaherty says he remains confident new measures are not required for Canada to weather the current economic storm.

Weekly Newsletter

2011-09-27T12:17:00.003-06:00

Tuesday, September 27, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.35%	2.89%
4 Years	4.19%	2.99%
5 Years	5.19%	3.39%
7 Years	6.16%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.50%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· What's the use of saving?
Sep 27, 2011 — Welcome to the world of ultra-low interest rates, where profligacy is richly rewarded and saving is, well, for suckers. Those who've opted to be austere with their personal finances have found themselves on the losing end as governments and central bankers have worked to get people to borrow and spend in the wake of the global recession.

· The secret to Canada's success
Sep 27, 2011 — Canada weathered the recession better than most and has, among advanced economies, had one of the strongest recoveries to date, reflecting significant policy stimulus and solid economic fund amentals. By now our economic allies must be weary of hearing how much better we're doing than they are.

· Good governance or just luck?
Sep 26, 2011 — It is by now a commonplace to remark that Canada's recession was much less severe than was the United States and in many other rich countries. On the other hand, it is also true that there were other rich countries that were even less affected that Canada: Australia, for example, sailed through the crisis almost without incident. What are the lessons to be learned from these comparisons? Were we luckier or better-governed?

· Watchdog boosts scrutiny of consumer loans
Sep 26, 2011 — Canada's banking regulator is increasing its scrutiny of loans made to consumers especially mortgages. Amid rising concern about the high level of household debt, the Office of the Superintendent of Financial Institutions is "stepping in to increase (its) monitoring" of consumer loans made by the major banks, said the head of the organization.

Today's Full Page Ad

2011-09-21T08:29:00.000-06:00

My Weekly Newsletter

2011-09-20T12:12:00.002-06:00

Tuesday, September 20, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.50%	2.75%
2 Years	3.85%	2.99%
3 Years	4.35%	2.89%
4 Years	4.19%	2.99%
5 Years	5.39%	3.39%
7 Years	6.16%	4.49%
10 Years	6.75%	4.79%
VIRM	3.00%	2.40%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· IMF cuts Canada's economic outlook
Sep 20, 2011 — Canada's jobless rate will tick higher this year and next as the global economy enters a "dangerous new phase," the International Monetary Fund said Tuesday as it chopped its forecast for the country.

· Numbers are not so meaningful
Sep 20, 2011 — Yes, it's true if interest rates were to shoot up several percentage points from their current very low level, more Canadians would struggle to make debt payments. It's also true that our debt ratio is now even higher than that of the U.S., which of course was home to the world's b iggest debt-fuelled economic bust. But these things, while true, are highly misleading.

· Why this economic downturn feels so different
Sep 20, 2011 — In Canada, low interest rates and government spending helped keep the domestic economy strong. The housing market and labour market stayed strong as consumers kept spending. But that has not happened in the U.S. While there has been some economic growth, the housing market and labour market are still stuck in the mud and, for millions of Americans, recovery is nowhere in sight.

· Carney to discuss economy in Saint John
Sep 20, 2011 — Bank of Canada Governor Mark Carney will discuss the state of the global economy during a luncheon meeting in Saint John on Tuesday. More than 500 people in the business and financial sectors are expected to show up for Carney's noon-hour speech.

Weekly Newsletter

2011-09-13T12:20:00.002-06:00

Tuesday, September 13, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.60%	2.64%
2 Years	3.95%	2.99%
3 Years	4.45%	2.89%
4 Years	5.14%	2.99%
5 Years	5.54%	3.39%
7 Years	6.50%	4.49%
10 Years	6.90%	4.79%
VIRM	3.00%	2.30%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· Could Canada be first to stumble?
Sep 13, 2011 — Canada could become the first developed economy to stumble back into recession as businesses pull back on investment and inventory accumulation in the third quarter, Bank of Nova Scotia economists said on Tuesday.

· Canadians fall deeper in debt
Sep 13, 2011 — Canadian household debt continued to rise in the second quarter as individuals took out more mortgages at historically low rates and obtained consumer loans, Statistics Canada said on Tuesday.

· Income inequality rising quickly in Canada
Sep 13, 2011 — The gap between the rich and the rest is growing ever wider - with the chasm increasing at a faster pace in Canada than in the United States.

· Loonie slips below parity as investors flee risk
Sep 12, 2011 — The Canadian dollar fell below parity against the U.S. dollar on Monday to its weakest level in more than seven months as risk sentiment continued to deteriorate on growing fears of a Greek default. Canada's dollar fell as low as 99.84 U.S. cents, its weakest level since Jan. 31.

Weekly Newsletter

2011-09-06T12:15:00.002-06:00

Tuesday, September 6, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.60%	2.64%
2 Years	3.95%	2.99%
3 Years	4.45%	2.99%
4 Years	5.14%	3.09%
5 Years	5.54%	3.39%
7 Years	6.50%	4.49%
10 Years	6.90%	4.79%
VIRM	3.00%	2.20%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· What's in Canada's emergency toolkit?
Sep 06, 2011 — In the six weeks since the Bank of Canada's last meeting, markets have moved from pricing in a 25 basis point rate hike by the end of 2011 to roughly 50% odds of a rate cut. However, the threshold for a rate cut by the central bank remains high, according to Mark Chandler, head of fixed income and currency research at RBC Capital Markets. At the same time, he thinks any plans for "non-traditional" policies are very preliminary.

· Protecting your investment
Sep 06, 2011 — Fall is the best time to get all those seasonal home maintenance projects done around the house before the winter rains. People in the field all agree that preventive maintenance work is a lot easier when it is dry.

· Loonie below $1.01 US on market gloom
Sep 06, 2011 — The Canadian dollar lost almost a penny as North American stock markets reopened after the long weekend sharply lower, dragged down by general pessimism about the global economy.

· Rate pause expected, but cut could follow
Sep 05, 2011 — Will a cut follow the pause? The question of how long Mark Carney will wait before he raises interest rates has shifted to include the possibility he could reduce borrowing costs in the face of a global slowdown.

Weekly Newsletter

2011-08-30T12:16:00.001-06:00

Tuesday, August 30, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.60%	2.64%
2 Years	3.95%	2.99%
3 Years	4.45%	3.29%
4 Years	5.14%	3.14%
5 Years	5.54%	3.44%
7 Years	6.50%	4.49%
10 Years	6.90%	4.79%
VIRM	3.00%	2.20%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· New rules drop CMHC mortgages by 40%
Aug 30, 2011 — Refinancing activity of insured mortgages in Canada dropped 40% following the federal government's tightening of mortgage rules in March, according to a second quarter financial recap report out this week by the Canada and Mortgage Housing Corporation.

· Fewer interest rate hikes in 2012
Aug 30, 2011 — Canadian economists have cut by half their expectations for Bank of Canada policy-rate increases through the end of next year as the global economic outlook deteriorates, a Bloomberg survey shows.

· B.C. residents doubt shedding debt
Aug 30, 2011 — While most B.C. residents believe they'll be debt-free by age 58, fewer than one-third of B.C. residents aged 45 to 64 don't owe any money, according to a Harris-Decima poll conducted for the Canadian Imperial Bank of Commerce.

· CMHC anticipating strong 2011 finish
Aug 30, 2011 — Canada's national housing agency says the countryâ€™s real estate industry will be strong in the back half of the year, building on favourable economic conditions in the first six months of 2011.

Check out my full page ad in today's Calgary Sun.

2011-08-25T08:47:00.000-06:00

Weekly Newsletter

2011-08-23T12:20:00.002-06:00

Tuesday, August 23, 2011

Current Rates:

Terms	The Bank	Our Rates
1 Year	3.60%	2.64%
2 Years	3.95%	2.99%
3 Years	4.45%	3.39%
4 Years	5.14%	3.44%
5 Years	5.54%	3.39%
7 Years	6.50%	4.69%
10 Years	6.90%	4.89%
VIRM	3.00%	2.20%
The prime rate is 3.00%

Shawn Mooney
(403) 945-8769
mortgages@shawnmooney.com

Contact Info:

AIRDRIE, Alberta

(403) 945-8769

Current News:

· Carney sees no recession
Aug 19, 2011 — Bank of Canada Governor Mark Carney acknowledged that many of the "downside" risks to the global economy have been realized and suggested that Canadian growth over the second half will be slower than first thought.

· Calgary inflation second highest in Canada
Aug 19, 2011 — Consumers prices in the Calgary region rose by the second highest monthly rate in the country in July, according to Statistics Canada. The federal agency said Friday that prices in the Calgary census metropolitan area were up 0.5 per cent from June, behind only St. John's, Newfoundland, which saw a 0.6 per cent hike.

· BoC will be 'prudent' on stimulus: Carney
Aug 19, 2011 — Finance Minister Jim Flaherty and Bank of Canada governor Mark Carney were summoned to Parliament by opposition MPs on Friday to clarify the country's contingency plans in the event of a major global systemic shock.

· Bonds down, but banks slow to cut rates
Aug 19, 2011 — With bond yields in Canada continuing to sink to new lows as investors flee equity markets for the safety of fixed income, prospective homeowners are left to wonder why Canada's banks have still not budged on posted fixed mortgage rates despite a cheaper lending envi ronment.