Mortgage & Market News, May 21st, 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 3.24%
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

The Toronto stock market surged ahead over 200 points on Tuesday, catching up to solid advances made on the rest of the world markets while the TSX was closed for Victoria Day.

The S&P/TSX composite index ran ahead 228.48 points to 11,509.12 while the TSX Venture Exchange was up 24.37 points at 1,252.24.

Mortgage News

According to the Canadian Real Estate Association, home sales rose 0.8 % in April from March, or 11.5 % overall from a year earlier – and prices climbed 0.9 % in the month to an average $375,810.

While the Vancouver market cools and Toronto remains heated, the Calgary market is thought to be gaining momentum and may surge ahead as one of Canada’s hottest markets this year.

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