Weekly Newsletter

Tuesday, August 23, 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% 3.39% 7 Years 6.50% 4.69% 10 Years 6.90% 4.89% 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: ·         Carney sees no recession Aug 19, 2011 — Bank of Canada Governor Mark Carney acknowledged that many of the "downside" risks to the global economy have been realized and suggested that Canadian growth over the second half will be slower than first thought. ·         Calgary inflation second highest in Canada Aug 19, 2011 — Consumers prices in the Calgary region rose by the second highest monthly rate in the country in July, according to Statistics Canada. The federal agency said Friday that prices in the Calgary census metropolitan area were up 0.5 per cent from June, behind only St. John's, Newfoundland, which saw a 0.6 per cent hike. ·         BoC will be 'prudent' on stimulus: Carney Aug 19, 2011 — Finance Minister Jim Flaherty and Bank of Canada governor Mark Carney were summoned to Parliament by opposition MPs on Friday to clarify the country's contingency plans in the event of a major global systemic shock. ·         Bonds down, but banks slow to cut rates Aug 19, 2011 — With bond yields in Canada continuing to sink to new lows as investors flee equity markets for the safety of fixed income, prospective homeowners are left to wonder why Canada's banks have still not budged on posted fixed mortgage rates despite a cheaper lending envi ronment.