Market & Mortgage News - Week of Dec.12th, 2011, Edmonton and Calgary


First Foundation’s Best Rates To Open The Week:

Term Rates

1 Year 2.89%
2 Year 2.69%
3 Year 2.99%
4 Year 3.24%
5 Year 3.29%
7 Year 3.89%
10 Year 4.39%

ARM / Variable 2.80%
Line of Credit 3.50%

Prime Rate 3.00%
Qualifying Rate 5.29%

Market News

The TSX fell more than 1 percent on Tuesday, after the U.S. Federal Reserve pointed to turmoil in Europe as a big risk to economic growth, but left interest rates unchanged and said there would be no new stimulus.

The Toronto Stock Exchange’s S&P/TSX composite index closed down 147.95 points, or 1.24 percent, at 11,759.94

Mortgage News

Five-year Government of Canada bond yields dropped another 6 basis points last week however gross spreads are still healthy on fixed mortgage rate products which may lead to rate discounts before the year is out.

Did you know…First Foundation can help you obtain Mortgage Life & Disability Insurance even if we didn’t arrange your mortgage for you? Contact one of our licenced mortgage brokers to discuss your options 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