Weekly Newsletter

Tuesday, September 27, 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 5.19% 3.39% 7 Years 6.16% 4.49% 10 Years 6.75% 4.79% VIRM 3.00% 2.50% The prime rate is 3.00% Shawn Mooney (403) 945-8769 mortgages@shawnmooney.com Contact Info: AIRDRIE, Alberta (403) 945-8769

Current News: ·         What's the use of saving? Sep 27, 2011 — Welcome to the world of ultra-low interest rates, where profligacy is richly rewarded and saving is, well, for suckers. Those who've opted to be austere with their personal finances have found themselves on the losing end as governments and central bankers have worked to get people to borrow and spend in the wake of the global recession. ·         The secret to Canada's success Sep 27, 2011 — Canada weathered the recession better than most and has, among advanced economies, had one of the strongest recoveries to date, reflecting significant policy stimulus and solid economic fund amentals. By now our economic allies must be weary of hearing how much better we're doing than they are. ·         Good governance or just luck? Sep 26, 2011 — It is by now a commonplace to remark that Canada's recession was much less severe than was the United States and in many other rich countries. On the other hand, it is also true that there were other rich countries that were even less affected that Canada: Australia, for example, sailed through the crisis almost without incident. What are the lessons to be learned from these comparisons? Were we luckier or better-governed? ·         Watchdog boosts scrutiny of consumer loans Sep 26, 2011 — Canada's banking regulator is increasing its scrutiny of loans made to consumers especially mortgages. Amid rising concern about the high level of household debt, the Office of the Superintendent of Financial Institutions is "stepping in to increase (its) monitoring" of consumer loans made by the major banks, said the head of the organization.