My Weekly Newsletter

Tuesday, September 20, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.50% 2.75% 2 Years 3.85% 2.99% 3 Years 4.35% 2.89% 4 Years 4.19% 2.99% 5 Years 5.39% 3.39% 7 Years 6.16% 4.49% 10 Years 6.75% 4.79% VIRM 3.00% 2.40% The prime rate is 3.00% Shawn Mooney (403) 945-8769 mortgages@shawnmooney.com Contact Info: AIRDRIE, Alberta (403) 945-8769

Current News: ·         IMF cuts Canada's economic outlook Sep 20, 2011 — Canada's jobless rate will tick higher this year and next as the global economy enters a "dangerous new phase," the International Monetary Fund said Tuesday as it chopped its forecast for the country. ·         Numbers are not so meaningful Sep 20, 2011 — Yes, it's true if interest rates were to shoot up several percentage points from their current very low level, more Canadians would struggle to make debt payments. It's also true that our debt ratio is now even higher than that of the U.S., which of course was home to the world's b iggest debt-fuelled economic bust. But these things, while true, are highly misleading. ·         Why this economic downturn feels so different Sep 20, 2011 — In Canada, low interest rates and government spending helped keep the domestic economy strong. The housing market and labour market stayed strong as consumers kept spending. But that has not happened in the U.S. While there has been some economic growth, the housing market and labour market are still stuck in the mud and, for millions of Americans, recovery is nowhere in sight. ·         Carney to discuss economy in Saint John Sep 20, 2011 — Bank of Canada Governor Mark Carney will discuss the state of the global economy during a luncheon meeting in Saint John on Tuesday. More than 500 people in the business and financial sectors are expected to show up for Carney's noon-hour speech.