Weekly Newsletter

Tuesday, October 11, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.50% 2.75% 2 Years 3.85% 2.99% 3 Years 4.35% 2.99% 4 Years 4.19% 3.09% 5 Years 5.19% 3.29% 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: ·         Now is the time for a fixed-rate mortgage Oct 11, 2011 — A recent Bank of Montreal study says that variable-rate mortgages have worked out to be better than fixed-rate mortgages 83 per cent of the time since 1975. I believe we are now in the 17 per-cent zone. Here are three key reasons: ·         Retirement-bound Canadians piling on debt Oct 11, 2011 — Older Canadians are nearing or entering retirement more indebted than ever before, piling on debt at a much faster pace than their younger counterpar ts, according to a report from TD Economics. ·         Canada's home building steams ahead Oct 11, 2011 — Home construction rose more than expected in September, led by multiple-units activity, according to Canada Mortgage and Housing Corp. CMHC said Tuesday that housing starts totalled a seasonally adjusted 205,900 units during the month, following an upwardly revised 191,900 units in August. ·         Canadian building permits plummet Oct 06, 2011 — Building permits fell in August for the second straight month, with Ontario seeing the biggest declines in both residential and non-residential activity, Statistics C anada said Thursday.