Weekly Newsletter

Wednesday, June 22, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.60% 2.64% 2 Years 3.95% 3.14% 3 Years 4.45% 3.45% 4 Years 5.09% 3.44% 5 Years 5.39% 3.59% 7 Years 6.45% 4.69% 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: ·         Flaherty says no new mortgage rules Jun 21, 2011 — Despite strong warnings last week from the Bank of Canada about rising debt - along with an analysis from the Certified General Accountants Association of Canada saying that the situation is "dire" for some Canadians - Finance Minister Jim Flaherty said Monday he had no plans to tighten mortgage rules again, stressing that the real estate market remains healthy. ·         How to wind back CMHC's dominance Jun 21, 2011 — In the wake of a housing-led financial-market meltdown in the United States, our federal government has introduced a legislative framework for oversight and regulation of the mortgage insurance market. ·         U.S. home sales hit 2011 low Jun 21, 2011 — Since the U.S. housing boom went bust in 2006, sales have fallen in four of the past five years. Analysts said they expect sales to level off at about 5 million per year. That's not much better than the 4.91 million homes sold last year, the worst showing in 13 years. ·         Three charts to start your week Jun 20, 2011 — The Bank of Canada is less likely to pull the trigger on an interest-rate hike this year because of a risk-filled economic environment, TD Economics chief economist Craig Alexander says.