Weekly Newsletter

Wednesday, June 1, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.60% 2.64% 2 Years 3.95% 3.20% 3 Years 4.45% 3.49% 4 Years 5.09% 3.59% 5 Years 5.59% 3.79% 7 Years 6.45% 4.79% 10 Years 6.85% 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: ·         What's in store for loonie if rates stay low? May 31, 2011 — Canada's currency is poised to weaken as investors bet Bank of Canada Governor Mark Carney will keep interest rates low to protect the economy instead of fighting inflation by raising interest rates. ·         Mark Carney holds rates steady, for now May 31, 2011 — Bank of Canada Governor Mark Carney held his benchmark interest rate steady at 1 per cent Tuesday, pointing to continuing global threats and the dampening effect of the strong Canadian dollar on exports, but signalled that he's also watching closely for an opportunity to begin tightening monetary policy. ·         U.S. home-price index lowest since bust May 31, 2011 — Home prices in major areas have reached their lowest level since the housing bubble burst in 2006 , driven down by foreclosures, a glut of unsold homes and the reluctance or inability of many to buy. ·         When is it worth it to break your mortgage? May 30, 2011 — Your first step is to decide what you want to accomplish. Most people are looking to do one of three things: to reduce the total cost of their mortgage, consolidate other debt (such as credit card debt) into their mortgage, or reduce their monthly payments, whatever the cost.