Weekly Newsletter

Tuesday, August 9, 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% 3.44% 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: ·         Housing starts more than expected in July Aug 09, 2011 — New housing construction in Canada rose more than expected last month, according to data released Tuesday. Canada Mortgage and Housing Corp. said the annual rate of housing starts on a seasonally adjusted basis was 205,100 in July, up 4.3 per cent from June. ·         Calgary region housing starts fall 43% Aug 09, 2011 — According to preliminary figures released Tuesday by Canada Mortgage and Housing Corp., total starts in the Calgary census metropolitan area in July were off 43.6 per cent from July 2010 to 658 units. ·         Canadians making good progress on debt Aug 08, 2011 — Harris-Decima and CIBC polled more than 2,000 adults and found 72% are holding some form of debt. The good news is 61% say they are making good progress repaying it with many recently making at least one lump sum payment on what they owe. ·         Relationships and real estate Aug 08, 2011 — "If you are living as a couple but because of circumstance only one of you pays the mortgage, the rules are all over the map as to whether you have the same rights as a married couple upon separation," says Christine van Cauwenberghe, an estate planning specialis t with Investors Group in Winnipeg.