Weekly Newsletter

Wednesday, August 3, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.60% 2.64% 2 Years 3.95% 2.99% 3 Years 4.45% 3.39% 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: ·         U.S. GDP revision likely to lift loonie Aug 02, 2011 — The U.S. Bureau of Economic Analysis released its advance estimate for GDP growth on Friday, and the news was bad in several different ways. Growth in the second quarter was only 1.3 per cent, which is not a number consistent with a narrative of a strong U.S. economic recovery. Worse, the estimate for growth in the first quarter was revised from 1.8 per cent down to 0.4 per cent. ·         U.S. debt fight nears end Aug 02, 2011 — Congress was poised Tuesday to grant final appro val to a deficit-cutting package that will avert a U.S. debt default but may not be enough to prevent a damaging downgrade of the top-notch American credit rating. ·         Mortgage vs. RRSP - which should come first? Aug 02, 2011 — If you have received a salary increase, should you use your extra cash flow to pay down your mortgage faster or to contribute to your RRSP? It depends on whether your RRSP growth rate can exceed your mortgage interest rate. ·         Setting the stage for a home sale Aug 02, 2011 — When Dana Smithers was preparing a home for the real estate market, she told the owner that his valued collection of samurai swords must come down from the walls.