Market & Mortgage News - Week of Jan. 09, 2012, 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 3.25%
7 Year 3.99%
10 Year 4.49%

ARM / Variable 2.90%
Line of Credit 3.50%

Market News

The Toronto stock market turned positive late on Monday after a day of lacklustre trading due to pervasive concerns about Europe’s stumbling efforts to get a handle on its government debt crisis as well as the launch of U.S. earnings season.

The S&P/TSX composite index gained eight points to close the day at 12,197.

The Canadian dollar was up 0.39 of a cent to 97.76 cents US after dropping to 96.90 cents earlier in the session, the weakest it has been since Dec. 20.

Mortgage News

According to The Edmonton Real Estate blog, Edmonton’s inventory of resale house listings is well on it’s way already this year with the number of listed properties up from 169 to 239 this week. Actual sales have not yet ramped up which will allow the inventory to grow over the next few months with prices remaining competitive, making January and February a great time for first time home buyers to hit the pavement and start the house hunting process.

Check out the rest of Edmonton’s numbers here and be sure to contact to one of our licenced mortgage brokers about a pre-approval before you head out there, or complete our secure and simple, online mortgage application.

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