Market & Mortgage News - Week of Jan.30th, 2012, Edmonton and Calgary


First Foundation’s Best Rates Top Open the Week:

1 Year 2.89%
2 Year 2.89%
3 Year 2.79%
4 Year 2.99%
5 Year 3.19%
7 Year 3.99%
10 Year 3.89%

ARM / Variable 2.90%
Line of Credit 3.50%

Prime Rate 3.00%
Qualifying Rate 5.29%

Market News

Plenty of good news cheered the world markets today as Greece is only days away from finalizing a deal that will reduce the financially troubled country’s obligations by 100 billion euros ($131 billion Cdn). China posted gains in it’s manufacturing sector and US markets were also higher with traders encouraged by employment data that shows the private sector created 170,000 jobs last month, bettering the initial forecast of 150,000.

To top it all off, Facebook is expected to file for it’s long-anticipated initial public offering today. Its debut is likely to be the most talked about initial public offering since Google in 2004.

Shortly after the open on the first day of February, the Toronto Stock Exchange’s S&P/TSX composite index was up 46.04 points, or 0.37 per cent, to 12,498.19.

Mortgage News

Ever considered a 10 year mortgage term? With the 10 year rate less than 4%...and less than 1% separating our 5 year and 10 year mortgage rates, the 10 year term is a great choice!

Don’t forget that after the 5th anniversary, the interest penalty on most10 year mortgage is 3 month’s interest. (Interest penalty during first 5 years is the same as the 5 year mortgage – the greater of 3 months interest or the Interest Rate Differential)

Talk to one of our licenced mortgage brokers today to see if the 10 year term is right for you!

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