Mortgage & Market News, May 14th, 2012, Edmonton & Calgary


First Foundation’s Best Rates To Open the Week:

Term Rates
1 Year 2.89%
2 Year 3.05%
3 Year 2.99%
4 Year 3.29%
5 Year 3.09%
7 Year 3.99%
10 Year 3.89%

ARM / Variable 2.85%
Line of Credit 3.50%

Prime Rate 3.00%
Qualifying Rate 5.44%

Market News

Failed talks in Greece about forming a new government raised worries that the country may have to exit the European Union and caused the Toronto stock market to tumbled onday to its lowest level since early October.

The S&P/TSX composite index fell back 206.14 points or 1.76 per cent to 11,488.61.

Mortgage News

Don’t miss our 5 year fixed rate 3.09% special, only available for 2 more days – see here for details!

According to an article in The Globe and Mail, experts are saying that most Canadians will be able to weather a rate hike when it occurs but they are not anticipating a drastic leap in the short term, anyhow.

A TD economist was quoted as saying that rates are expected to go up slowly and that there “will likely be enough lead time” for many households to “adjust their spending habits” to account for higher payments.

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