Weekly Newsletter

Wednesday, February 2, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.35% 2.54% 2 Years 3.60% 3.10% 3 Years 4.15% 3.19% 4 Years 4.94% 3.60% 5 Years 5.19% 3.79% 7 Years 6.35% 4.50% 10 Years 6.50% 4.95% 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: ·         Why a rate hike won't be a blow to most Feb 01, 2011 — Bank of Canada Governor Mark Carney and other policy makers have no doubt been scaring the pants off consumers who have loaded up on debt like there's no tomorrow. Well, there is a tomorrow, and that was their aim. ·         Economy grows quickest in 8 months Jan 31, 2011 — The Canadian economy grew 0.4 per cent in November, the fastest pace in eight months, driven by expansion in the oil and gas, retail, real estate and financial sectors. ·         Lenders Expand Mortgage Options Jan 31, 2011 — Most mortgage contracts allow homeowners the chance to skip a payment under these kinds of circumstances, but usually only once. Some allow a yearly deferral and others go as far as granting a four-month break, but only in a hardship scenario. Now, however, as banks, credit unions, monolines and other lenders vie for a piece of Canada's mortgage market, homeowners have a choice of increasingly flexible options. ·         Time to Leash the CMHC Jan 31, 2011 — The federal government should limit tax payer exposure to potential problems in the housing market by winding back the role of the Canada Mortgage and Housing Corp. in the provision of mortgage insurance, according to a new report by the CD Howe Institute.