Market and Mortgage News - Week of June 27th, 2011 - Edmonton & Calgary


First Foundation Best Rates To Open the Week:

Term Rates
1 Year 2.64%
2 Year 3.20%
3 Year 3.34%
4 Year 3.44%
5 Year 3.59%
7 Year 4.69%
10 Year 4.99%

ARM / Variable 2.18%
Line of Credit 3.50%

Prime Rate 3.00%
Qualifying Rate 5.39%

Market News

For only the second time this month, the TSX managed two consecutive positive closes this Monday and Tuesday, lifted with a tide of rising commodity prices due to confidence that a deal can be reached in Greece, where politicians are to vote Wednesday on austerity measures needed to unlock the next phase of bailout funding.

The S&P/TSX composite index gained 138.49 points, or 1.07 per cent, to close at 13,104.98.

Mortgage News

Due to recent optimism about Greece, Canadian bond yields are on the rise. Money is moving from bonds to stocks and away from the Canadian dollar thereby improving prospect for the U. S. recovery and driving up yields. If this trend continues, mortgage lenders will hold off on any more rate reductions and perhaps even increase their fixed rate this week.

If you are considering purchasing a home in the next three months, contact one of our licensed mortgage brokers today to lock in one of today’s rates before their gone!

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