Weekly Newsletter for 16-Mar-11

Wednesday, March 16, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.50% 2.64% 2 Years 3.75% 3.29% 3 Years 4.35% 3.35% 4 Years 5.14% 3.89% 5 Years 5.44% 3.84% 7 Years 6.60% 4.85% 10 Years 6.75% 5.15% 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: ·         BMO offers green mortgage Mar 15, 2011 — Starting today, Bank of Montreal will reward eco-friendly homeowners with a competitive new mortgage rate. BMO's Eco Smart Mortgage will offer a 3.89% fixed five-year rate for Canadians who choose energy efficient homes. ·         House price gains likely to recede Mar 15, 2011 — Gains in house prices are likely to "recede" starting next month as shorter mortgage terms keep some buyers out of an already softening market, the Canadian Real Estate Association said Tuesday. ·         Canadians' debt burden eases Mar 14, 2011 — Canada's net worth increased 0.3% to $6.3 trillion in the fourth quarter while household debt fell from record levels, Statistics Canada said Monday. ·         Average MLS price up 18 per cent in February Mar 14, 2011 — The average Multiple Listing Service price of a home in British Columbia was up 18 per cent in February compared to the same month last year, according to the B.C. Real Estate Association.