Market and Mortgage News - Week of April 25th, 2011 - Edmonton & Calgary


First Foundation’s Best Rates to Open the Week:

Term Rates
1 Year 2.64%
2 Year 3.40%
3 Year 3.50%
4 Year 3.79%
5 Year 4.04%
7 Year 5.04%
10 Year 5.24%

ARM / Variable 2.20%
Line of Credit 3.50%

Prime Rate 3.00%
Qualifying Rate 5.69%

Market News

The Toronto stock market was in negative territory Tuesday afternoon as commodity prices dropped and investors digested a long list of earnings reports streaming in from both sides of the border.

The S&P/TSX composite index was down 13.6 points at 13,893.8. The TSX Venture Exchange was down 29.55 points at 2,230.5.

The Canadian dollar gained 0.19 of a cent to 104.95 cents US after earlier trading as high as 105.31 cents US.

Mortgage News

According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity held steady in March 2011 compared to February.

According to a report issued by CREA, “seasonally adjusted national home sales activity in March came in one tenth of a percentage point above levels for the previous month, with stable demand in most large urban centers.”

“With national sales in each of the first three months of 2011 running close to their five- or ten-year monthly averages, seasonally adjusted national sales activity in the first quarter of 2011 was up 4.5 per cent from levels recorded in the fourth quarter of last year, and reached the highest quarterly level in a year. “ Read the rest of CREA’s report here.

To discuss any of our mortgage rates or to apply for a pre-approval, contact one of our licensed mortgage brokers today!

As the company’s first employee, Jennifer has been a Licensed Mortgage Associate since 2004, but her current role is not focused on mortgages. She is the resident blog writer and…

Learn more about Jennifer Rochford