Summer has arrived! With a very long anticipated wait – it seems as though we might get a few more warm(ish) summer days before it gets to be that time of year when the skies get darker earlier, the kids head back to school, and the leaves start flying again. Here’s hoping that the white stuff stays away for a few more months.
In this quarterly installment of our summer newsletter, we’ll touch on the following:
- Now Hiring!
- Market Update
- Payment Shock Protection Plan
- Home Security Program for FF Clients
- Meet our Newest Team Member – Darren Quilley
- Credit Where It’s Due
- Other Fun Ways to Connect
- Got Reviews?
First Foundation has two positions available on it’s team and we’re looking for great people to work with. If you or someone you know fits the bill, then let us know! First Foundation employment opportunities.
Craig Pilgrim, a local REALTOR, does a good job of summing up Edmonton and area’s July numbers: July Real Estate Market Update. Basically sales and sale prices are up moderately vs. the same time in 2010. There is still lots of inventory on the market, but anecdotally at least, we see things that are priced right moving quite briskly. From our standpoint the second half of the year is off to a much better start than the same time last year.
The mortgage world has been pretty steady since our last update. There haven’t been any more mortgage rule changes like the previous three rounds we’ve gone through over the past couple of years, so that’s been nice. Rates have been a little erratic but over time they’ve been quite flat – a product of broader volatility in world economies. Interest rates are still at or near all-time lows in most product categories so from that standpoint it’s an excellent time to have a mortgage. If your rate is higher than the mid 3% range on a fixed rate, or 2.2% on a variable, you really should get in touch. At the moment there doesn’t seem to be any urgent expectations of higher rates though things can and will change quickly in these volatile times, so if you’re within 120 days of buying or renewing, please let us know and we can get you a rate hold.
**Note there are indications that these will go down in the next few days but until we have confirmation we won’t post them. You can get real-time updates here.
Term Mortgage Rates **
1 Year 2.64%
2 Year 2.99%
3 Year 3.39%
4 Year 3.39%
5 Year 3.39%
7 Year 4.69%
10 Year 4.99%
ARM / Variable 2.20%
Line of Credit 3.50%
Last updated August 17, 2011 *Additional terms may be available from certain home mortgage lenders. On approved credit. Home Mortgage Rates subject to change without notice. E&OE
Payment Shock Protection Plan
How do you take advantage of today’s extra-low interest rates while at the same time protecting yourself against the very real possibility of higher rates and monthly payments down the road? It’s easy, with First Foundation’s Payment Shock Protection Plan. It’s free, it’s easy, and it’s one of the best strategies we’ve seen for managing your interest-rate risk into the future. For more information, you can contact one of our Licensed Mortgage Brokers or fill out our handy PSPP form here.
Home Security Program for First Foundation Clients
Here at First Foundation, part of our mission is to help financially responsible Canadians protect themselves, their loved ones, and their assets. As a result, we are very proud to introduce a Residential Home Security Program which provides access to the very best in security services and technology at discounted rates for friends and clients of First Foundation. You can learn more about this offering through Liberty Security here: http://www.firstfoundation.ca/home-security/
Meet Our Newest Team Member – Darren Quilley
First Foundation is thrilled to have Darren Quilley join the firm as a Licensed Mortgage Broker. Darren brings enthusiasm and good nature to the company and has already demonstrated the kind of client commitment that we take very seriously. You can learn more about Darren on his profile page. Send him a note and say hi!
Credit Where It’s Due
This year we were honoured with the “Best Internet Presence” at the 2011 Canadian Mortgage Awards in Toronto. Also, recently, Gordon McCallum was named to the Top 50 Brokers list in Canada for the fourth consecutive year by Canadian Mortgage Professional magazine. Gord and the team are very pleased with the results and humbled at the same time. More than anything these awards have excited us to continue to improve. Gord feels it would be dishonest to take all the credit for the success, so he’d like to acknowledge the fine people who made this all possible:
- Lisa Last
- Shayla Damery (Now at the BDC)
- Rhonda Unrau
- Tracy Hall
- Jennifer Rochford
- Lift Interactive
- Bluetrain SEO
Other Fun Ways to Connect
We want to be your friend! Really! Not just for some self-serving marketing reason…we actually really like people and want to stay in touch. If you’re fun like that, then here are a few fun ways for us to all stay in touch:
Have you got feeedback for us or a positive review to share with the world? If so, we would really appreciate it if you did a quick review for us on our Google Places page. Thanks!