Weekly Newsletter

Tuesday, November 8, 2011 Current Rates: Terms The Bank Our Rates 1 Year 3.50% 2.75% 2 Years 3.85% 2.99% 3 Years 4.05% 3.19% 4 Years 4.79% 3.19% 5 Years 5.29% 3.39% 7 Years 6.35% 4.49% 10 Years 6.75% 4.79% VIRM 3.00% 2.60% The prime rate is 3.00% Shawn Mooney (403) 945-8769 mortgages@shawnmooney.com Contact Info: AIRDRIE, Alberta (403) 945-8769

Current News: ·         Housing starts dip in October Nov 08, 2011 — "Overall housing starts are expected to moderate in line with demographic fundamentals," Mathieu Laberge, deputy chief economist at CMHC's Market Analysis Centre, said in a news release. A 6,000-unit drop in single detached starts in urban areas caused the fall, Laberge said. Urban starts account for about 90 per cent of all starts. ·         Global cash at risk of drying up: Carney Nov 08, 2011 — Bank of Canada governor Mark Carney, warned on Tuesday that the world was "on the cusp of another retrenchment" in liquidity, and urged careful management of Eu ropean bank recapitalization to limit the effects. ·         Home value has doubled since 2000: report Nov 07, 2011 — Re/Max says since 2000, the average value of a Canadian home has doubled, rising from $163,951 to $339,030 in 2010. A report from the real estate organization says that billions spent in new construction, renovation and renewal have pushed up the average residential price in the country's major centres. ·         Homebuyer with huge bill not told about old leak Nov 07, 2011 — A homebuyer from Victoria, B.C., is upset over being hit with $50,000 worth of unexpected repairs to his basement, after the seller and his realtor didn't tell him about previous water leakage problems.