Weekly Newsletter

Tuesday, August 30, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.60% 2.64% 2 Years 3.95% 2.99% 3 Years 4.45% 3.29% 4 Years 5.14% 3.14% 5 Years 5.54% 3.44% 7 Years 6.50% 4.49% 10 Years 6.90% 4.79% 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: ·         New rules drop CMHC mortgages by 40% Aug 30, 2011 — Refinancing activity of insured mortgages in Canada dropped 40% following the federal government's tightening of mortgage rules in March, according to a second quarter financial recap report out this week by the Canada and Mortgage Housing Corporation. ·         Fewer interest rate hikes in 2012 Aug 30, 2011 — Canadian economists have cut by half their expectations for Bank of Canada policy-rate increases through the end of next year as the global economic outlook deteriorates, a Bloomberg survey shows. ·         B.C. residents doubt shedding debt Aug 30, 2011 — While most B.C. residents believe they'll be debt-free by age 58, fewer than one-third of B.C. residents aged 45 to 64 don't owe any money, according to a Harris-Decima poll conducted for the Canadian Imperial Bank of Commerce. ·         CMHC anticipating strong 2011 finish Aug 30, 2011 — Canada's national housing agency says the country’s real estate industry will be strong in the back half of the year, building on favourable economic conditions in the first six months of 2011.