News & the mortgage market, 12 October 2010-Calgary & Edmonton

12 October 2010, Jennifer Cookson

The first fund the best prices for opening week:

The term mortgage rates

1 year, 2.60%
2.2.99%
3 Year 2.90%
4 Year 3.49%
5-year-old 3.59%
7-year-old 4.85%
10-year-old 5.19%

ARM/2 30% variable.

Line of credit 3.50%

Prime rate 3.00%

Qualifying speed 5.39%

Toronto Stock Exchange, s & P/TSX Composite Index closed 40.05 points or 0.32 12.575.64 after sitting in the negative, most of the day eight of the ten major groups task ended higher.

Actually rose to its highest level in more than two years on Tuesday, TSX helped minutes from United States Federal Reserve system, the Central Bank of the United States showed a sense of "that further support economy" may soon. "

Two points of view on current market conditions

Canadians are less optimistic when it comes to financial and economic issues are the most recent Canadian RBC consumer Outlook according to consumer confidence fell "significantly in Canada.

Feelings seem to be data contract, numbers and understand the proposed Canadian businesses and the Bank of Canada are few prospects consumers report contrasts with information Bank of Canada in the business Outlook Survey:

Consumers Outlook: Fewer Canadians are positive about the overall economic Outlook. Although this number is still high at 60% – down seven points from last quarter.

Business Outlook: stranglehold on the prospects for Canadian businesses, only a small increase in sales over the next year plan to increase spending on machinery and equipment to improve their performance, they expressed continuing positive — but modest — hope for sales growth over the next 12 months, the main reason for water companies to wait is defined as "a weak Outlook for economic growth, United States."

Consumers Outlook: more Canadians suffer job alert number sits on 22% – up to two points from last quarter, but still significantly lower than 27%, high, November 2009

Business Outlook: according to the September Employment Statistics Canada, most businesses expected increase recruitment — 39% to hire more 48% remained the same, 14% cut.

Consumers Outlook: Fewer Canadians believe will improve the national economy, although it remains relatively high at 46%, which is down nine points from three months ago.
Although economists predict that the economy will slow next year, they are not expected to stall completely. many believe it will continue to grow, but more modest rate of 2% instead of 2.75-3%, we become accustomed to.

Have a fantastic short week and if you have any questions about the best deals this week, please contact one of our licensed mortgage Associates!