Tuesday, October 25, 2011
Shawn Mooney (403) 945-8769 mortgages@shawnmooney.com
AIRDRIE, Alberta
(403) 945-8769
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BoC holds interest rate, warns of risks ahead
Oct 25, 2011 — The Bank of Canada kept its key lending rate at 1 per cent on Tuesday, suggesting it believes the economy is still fragile and isn't ready for a bump in interest rates. The statement that accompanied the interest rate announcement warned of gloomy days ahead and said Europe will most likely enter a brief recession.
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Is it time to lock into a fixed-rate mortgage?
Oct 25, 2011 — It's one of the most agonizing decisions homeowners make: Do you go fixed or variable? Mortgage, that is. The decision could end up costing, or saving, big bucks on what is often the single biggest purchase many will make. Research shows that, in the past, a variable-rate mortgage has been cheaper than a fixed-rate one.
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Merged mortgage accounts mean savings
Oct 24, 2011 — When it comes to finances, many of us are content to go the traditional route and have our mortgage, savings and chequing facilities in separate accounts. However, a number of financial institutions offer all-in-one products in which all these accounts are merged. Such accounts start off as a secured line of credit, advancing up to 80% of the value of the property, and as the mortgage principle is reduced, the available line of credit funds increase.
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To buy or rent: that is the question
Oct 24, 2011 — In a report earlier this year, Royal Bank of Canada chief economist Craig Wright suggested home ownership for a growing number of Canadians has become an impossible dream. That's certainly true in Vancouver, where the affordability index is at record highs, with the average home price at nearly 10 times the median income. |
Tuesday, October 25, 2011
Weekly Newsletter - Bank of Canada Rate Remains Unchanged
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