This Week's Mortgage Market Update Contains:

• Master planners?
• Awash in a sea of debt
• Genworth Q4 profit tops Street; US mortgage losses fall

This Week's Quotation:

“It is in his pleasure that a man really lives; it is from his leisure that he constructs the true fabric of self.” -  Agnes Repplier (1855 - 1950)

This Week's Highlights:

• Housing starts jump in December
• No change to Bank of Canada forecast – on hold until summer 2010
• Labour cuts continue, unemployment rate steady

This Week's Mortgage Market Update Contains:

• Don’t bite off more mortgage than you can chew
• Don't be afraid this RRSP season
• Saving America's banking system

This Week's Quotation:

“I was always looking outside myself for strength and confidence, but it comes from within. It is there all the time.” -  Anna Freud (1895 - 1982)

This Week's Highlights:

• Housing starts jump in December
• No change to Bank of Canada forecast – on hold until summer 2010
• Labour cuts continue, unemployment rate steady

This Week's Mortgage Market Update Contains:

• Mortgage shoppers opt for caution
• Mortgage brokers handling growing number of deals
• Home buyer prep for 2010

This Week's Quotation:

“Make it a rule of life never to regret and never to look back. Regret is an appalling waste of energy; you can't build on it; it's only for wallowing in.” -  Katherine Mansfield (1888 - 1923)

This Week's Highlights:

• Housing starts jump in December
• No change to Bank of Canada forecast – on hold until summer 2010
• Labour cuts continue, unemployment rate steady

This Week's Mortgage Market Update Contains:

• Will longer amortizations be nipped in the bud?
• New home prices rise for fifth straight month
• Commercial real estate 'key U.S. trouble spot'

This Week's Quotation:

“I looked always outside of myself to see what I could make the world give me instead of looking within myself to see what was there.” -  Belle Livingstone

This Week's Highlights:

• Housing starts maintain uptrend
• Bank will start process to normalize rates in 2010
• Biggest one-month gain in jobs since September 2008

This Week's Mortgage Market Update Contains:

• Fasten your seatbelts, home buyers
• Poll finds increased optimism on economy with 54 per cent expecting better year
• GDP data shows U.S. recovery weak

This Week's Quotation:

“Character - the willingness to accept responsibility for one's own life - is the source from which self respect springs.” -  Joan Didion (1934 - ), "Slouching Towards Bethlehem"

This Week's Highlights:

• Housing starts maintain uptrend
• Bank will start process to normalize rates in 2010
• Biggest one-month gain in jobs since September 2008

A simple glossary of mortgage and economic terms to help clarify the language of the mortgage process and economic terminology.

While a mortgage is fundamentally a loan that is secured against your home, there are many variations to the type of mortgage that can be used for various needs. Based on your goals and risk characteristics there may be a number of different mortgage products that will meet your needs.

Inside this guide you will find (among a plethora of useful information to guide you through the home buying process) an application form and a fax cover page that outlines what is required to process a mortgage.

I cannot believe how certain builders (“Vendors”) are trying to take advantage of new homebuyers on the issue of mortgages. There is an attempt to squeeze extra money from innocent purchasers through certain clauses inserted into the Agreement of Purchase and Sale (the “Offer”), that follow the first clause illustrated and change something good, into potentially a trap for the unwary buyer:

Time and time again I am increasingly surprised at the number of people who go shopping for a home and mortgage without taking the time to know what is out there in the marketplace. I regularly have clients that have $50,000 RRSP portfolios that subscribe to multiple investment newsletters, while they are applying for a $300,000 mortgage completely in the dark.

With the interest rates still steadily moving up and no real end in sight it appears that people everywhere are grasping for ways to come up with the downpayment necessary to buy a home. Most people know of illegitimate ways to come up with a downpayment, but here are a couple of above board ways to reach the same goal.

More and more today we are seeing a lot of incentive programs that end up luring consumers in for higher rates over the term of their mortgage. If you are trying to find the most inexpensive mortgage financing, then the most important thing that you have to consider is your net cost of borrowing. Put aside the cash-back offers, the low introductory rates, and interest free periods and take a look at the whole picture before you make any mortgage decisions.

Avoid the 10 Most Common, Painful, Frustrating Mistakes First Time Home Buyers Make

Buying a residence can be a hair raising experience. A roller coaster of emotions from finding the right place, to securing the mortgage and moving in. For most of us the first time home purchase is the largest investment we've ever considered. Often the emotions of purchasing something so expensive and personal can cloud our business judgment.

People seem to be continually confused by their credit report (aka credit rating), and how it impacts their ability to get credit. This document alone can impact your ability to work at certain companies, rent an apartment, get a credit card, and even open a savings account.

The Calum Ross team has researched and put together these important and useful Bank of Canada links for you.

We deliver our service with the recognition that our loyal clients are always the backbone of our success. Each and every day we are further indebted to our clients and partners for being given the opportunity to serve our clients' needs. Our team's philosophy for customer service delivery can be summed up in one sentence, "Perfection is our goal - excellence is tolerated".

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