Weekly Newsletter

Wednesday, July 13, 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 5.14% 3.54% 5 Years 5.54% 3.59% 7 Years 6.50% 4.69% 10 Years 6.90% 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: ·         Toronto is country's most expensive city Jul 12, 2011 — Toronto surpassed pricey Vancouver due to its relatively high rental accommodation costs, Mercer's global cost of living survey, to be released Tuesday, shows. Canada's largest city moved up to 59th spot worldwide from the 76th position last year. ·         Double your condo pleasure Jul 12, 2011 — Remember the not-so-good old days when a single woman would be cautioned against buying her own condo just in case Prince Charming came around? Today, that same buyer is being encou raged to purchase a two-bedroom condo, though not exactly for the same reasons. ·         Reining in the mortgage king Jul 11, 2011 — In March, Maclean's warned that the Canada Mortgage and Housing Corporation, the quasi-governmental insurer that underwrites $500 billion of residential mortgages, answers to no one-not Canada's top financial regulator or even the minister of finance. That all quietly changed last month when Ottawa passed a law that puts the CMHC strictly under the watchful gaze of both the finance minister and the Office of the Superintendent of Financial Institutions (OSFI). ·         Housing starts rise on apartment, condo gains Jul 11, 2011 — A jump in the number of housing starts in Ontario last month helped boost the national seasonally adjusted rate to 197,400 units in June, Canada Mortgage and Housing Corp. reported Monday.