Weekly Newsletter

Wednesday, August 17, 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% 3.44% 5 Years 5.54% 3.09% 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: ·         Condo market paces Montreal sales in July Aug 15, 2011 — While most types of properties throughout Canada in July took a dip in value from June, Montreal condos gained 3.7% to reach a median of $232,000 over the past month, according to the latest statistics from the Greater Montreal Real Estate Board (GMREB). ·         Housing prices expected to show dip in July Aug 15, 2011 — The Canadian Real Estate Association reports monthly housing sales numbers for July on Tuesday, but it's the national association's long-term forecast that may provide greater clues i nto the state of the Canadian housing market. ·         BMO cuts forecast for U.S. Aug 15, 2011 — The Bank of Montreal has trimmed its economic forecast for the United States for the second time in two weeks, citing a slew of factors including the recent debt downgrade, confidence concerns and market volatility, but fell short of forecasting a double-dip recession. ·         Calgary housing starts on the rise Aug 15, 2011 — Short-term and long-term expectations for housing starts in the Calgary region are positive, says the Conference Board of Canada. In its Metropolitan Monthly Monitors report released Friday, the board said the seasonally-adjusted annual rate for housing starts for the Calgary census metropolitan area was 5,977 units in July.