Weekly Newsletter

Wednesday, July 20, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.60% 2.64% 2 Years 3.95% 2.99% 3 Years 4.45% 3.52% 4 Years 5.14% 3.54% 5 Years 5.54% 3.54% 7 Years 6.50% 4.69% 10 Years 6.90% 4.95% 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: ·         Dissecting the BoC statement: A firmer tone Jul 19, 2011 — As widely expected, the Bank of Canada announced Tuesday it will maintain its overnight rates at 1% for another month. However, parsing through the comments of Mark Carney, Bank of Canada governor, there are definite signs that the central bank is taking a firmer stance on plans to remove monetary stimulus sooner rather than later. ·         Toronto condo market soars higher Jul 19, 2011 — New condominium sales in the Greater Toronto Area climbed 62% higher in June from a year earlier, according to Building Industry & Land Development Association. ·         Canada Dollar Reaches an 11-Week High Jul 19, 2011 — Canada's dollar reached the strongest in 11 weeks after the Bank of Canada kept its main interest rate unchanged and said borrowing costs will increase as the economy recovers. ·         High buys in the sky Jul 18, 2011 — Developer and broker Brad Lamb has found success in the real estate sector for more than 20 years. Looking to invest in real estate? To make money at it, here's some advice from those in the condo game: