Weekly Newsletter for March 23rd

Wednesday, March 23, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.50% 2.64% 2 Years 3.75% 3.18% 3 Years 4.35% 3.35% 4 Years 5.14% 3.89% 5 Years 5.44% 3.84% 7 Years 6.60% 4.79% 10 Years 6.75% 4.99% 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: ·         http://www.cbc.ca/news/canada/british-columbia/story/2011/03/21/bc-mortgagepenalties.html Mar 22, 2011 — A Vancouver man is speaking out about how Scotiabank charged him $25,000 to pay out his mortgage early - nine months after telling him the fee would be half that much. ·         Banks drop fixed-rate mortgage costs Mar 22, 2011 — Three of Canada's major banks lowered some fixed-rate mortgage costs this week and experts expect the other banks to follow suit. ·         Higher prices, interest rates around the corner Mar 22, 2011 — I suspect many Canadians reacted with disbelief to last week's inflation report for the month of February, which showed that our core or underlying rate of inflation fell to a record low of just 0.9 per cent, the lowest since record keeping began in 1985. In addition, the overall rate of inflation dipped slightly to 2.2 per cent. ·         Hoping an Old Woman will polish their image Mar 22, 2011 — The Canadian Real Estate Association is relying on humour in its latest advertising campaign, opting to conscript a fairy tale character to its cause rather than hammer consumers with another set of television spots earnestly espousin g the benefits of real estate agents.