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and welcome!
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Important News from the Bank of Canada -
May 22, 2007
Interest Rates: Variable Rate Mortgages – “Clients May Want to Lock In”
Both the economy and inflation are hotter than thought – Canadians may be swallowing the medicine of higher interest rates by the end of the year to
cure a stubborn case of inflation, economists say.
The agency noted yesterday that core inflation, which the Bank of Canada also considers in setting interest rates, rose to an alarming 2.5%, well
above the bank’s 2% target. That’s the fastest pace in four years for core inflation, which excludes such volatile items as fruit, vegetables and
gasoline.
“What we have is a situation where the economy is hotter and inflation is hotter than the bank had thought,” said Warren Lovely, senior economist with
CIBC World Markets. “That has left financial markets upping the odds of an interest-rate hike. At the very least, prospects for a cut are rapidly
diminishing.”
The market reacted quickly to the possibility of higher interest rates, pushing the dollar up nearly a full cent US in early trading. The Canadian
dollar ended the day up 0.43 of a cent at 91.02 cents US. Mr. Lovely added that for the first time since mid-2004 Canada’s core inflation has shot
above that of the United States.
Inside This Issue!
Message from Karen Hall
Well finally we have been getting some nice weather - I almost forgot how beautiful it can be to live here in
Vancouver! Looks like it might be time to tune up the BBQ and get ready for summer fun! On the other hand, according to The Old
Farmers Almanac, "This summer will be slightly cooler than normal, on average, with the hottest periods in mid- to late July and early August.
Rainfall will be below normal near the coast and above normal inland". Oh well, you can't win them all...
Keep an eye out for the next version of our newsletter near the end of June that will include the popular Home and Mortgage articles
and information.
If you have any ideas or suggestions
that you think should be included here, please drop us a line - we would love to
hear your feedback.
Unbeatable Rates!
Here are the Dynamic Mortgages latest interest rates -
Rates effective May 28, 2007 and are subject to change without notice.
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Term
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Our Rates |
Posted Rate |
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6 Month
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6.15%
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6.40%
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1 Year
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5.30%
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6.65%
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2 Year
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5.25%
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6.70%
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3 Year
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5.24%
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6.75%
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4 Year
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5.24%
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6.85%
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5 Year
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5.24%
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6.95%
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7 Year
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5.55%
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7.20%
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10 Year
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5.65%
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8.05%
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BEST PICK
5 YEAR VARIABLE RATE MORTGAGE
Float .90% under Prime. Prime is
6.00%. Based on a 5 year term, effective immediately and for a limited time. Lock in anytime at
the fully discounted rate. Rates subject to change without notice. O.A.C. |
Articles
The article(s) marked as PDF
documents will open in a new browser window. You may need the free Adobe Reader program
to view the article(s) -
download the reader by clicking the link below...
CMHC Housing Market Outlook 2007-2008 Website Article
Although fundamental factors such as high employment levels, income gains and low mortgage rates remain supportive of strong demand, housing starts
will resume a gradual downward trend in 2007. The level of new home construction will decrease in all provinces...
Click for the full article:
http://www.karenhall.ca/articles.php?q_id=28
Home Hunting Comparison Worksheet 92kb PDF Document
This Home Hunting Comparison Worksheet was created to help you ask the right questions and
choose the right home for your needs. It’s just one example of how CMHC provides everything you need to open new doors...
Click for the full article:
http://www.karenhall.ca/newsletter/may07/CMHC_Worksheet.pdf
Contact Dynamic
Mortgages
Phone: (604) 936-7740
Fax: (604) 936-7377
Dynamic Mortgages Email:
mailto:office@karenhall.ca
Dynamic Links
Here is a list of links to a few
areas on our website that may be of interest to you.
Partners & Other Resources
Funny Bone!
Just a bit of humour!
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