Mortgage rates and qualifying rate are going down, the market is coming out of its slump and now is an excellent time to purchase a new home or refinance to consolidate your debt.   Prime is expected to rise by ¼ of a point on September 8, however some economists are suggesting it remain the same to stabilize the housing market until later in the year. We’ll wait and see. Have a great long weekend. Please call if you have any questions.

The Bank of Canada is now expecting a slower than projected recovery in Canada than announced in their April Report. Inflation is in line with their targets of 2% but they have extended expectations of a full recovery by two quarters due to current trends and performance.

With rates staying low, I am continuing to recommend that my clients stay in their variable rate mortgages. 

 Great inventory of homes for sale, great time for you to invest in your first home or an upgrade. If you are looking for investment dollars to take advantage of the “buyer’s market” real estate situation today, how about taking the equity out of your home on a line of credit (HELOC) and have available funds for that “great deal” purchase that you just can’t turn down.

 If you have received your mortgage renewal from your Bank – give me a call to discuss your options. Your final mortgage decision should be based on informed options. 

Have a great day!  Marianne LePan  403-278-7000