This Week's Mortgage Market Update Contains:

• Condos drive Canada's housing start surge
• Why the Bank of Canada plays coy on interest rates
• Canada Housing Bubble Concern Shown in Insurer Query: Mortgages

This Week's Quotation:

“One's first step in wisdom is to question everything - and one's last is to come to terms with everything. ” - Georg Christoph Lichtenberg (1742 - 1799)

This Week's Highlights:

• Housing starts surged in April
• Canada generated 82,300 new jobs in March
• Canadian core and headline inflation rates dipped in March

This Week's Mortgage Market Update Contains:

• Jay Bryan: Rising rates, if they happen, will be good news
• Most Canadian home buyers would avoid bidding war: study
• What will make the housing boom go bust? 'Greed'

This Week's Quotation:

“Be master of your petty annoyances and conserve your energies for the big, worthwhile things. It isn't the mountain ahead that wears you out - it's the grain of sand in your shoe.” - Robert Service (1874 - 1958)

This Week's Highlights:

• Housing starts increased in February
• 2,800 jobs cut in February, unemployment rate slips to 7.4%
• Canadian consumer prices were 2.5% higher than in January 2011

This Week's Mortgage Market Update Contains:

• Toronto condos the 'hot spot in Canadian home building'
• Canadians slash spending to tackle debt
• Tidal wave of foreclosed homes about to flood U.S. market

This Week's Quotation:

“Let no man imagine that he has no influence. Whoever he may be, and wherever he may be placed, the man who thinks becomes a light and a power.” - Henry George (1839 - 1897)

This Week's Highlights:

• Housing starts increased in February
• 2,800 jobs cut in February, unemployment rate slips to 7.4%
• Canadian consumer prices were 2.5% higher than in January 2011

This Week's Mortgage Market Update Contains:

• Real estate: Ontario, B.C. at 'top of our list of concerns'
• Shorter terms for mortgages may be in Ottawa's new budget
• Survey: US home prices declined in 16 of 19 cities in January, despite pickup in home sales

This Week's Quotation:

“Success in business requires training and discipline and hard work. But if you're not frightened by these things, the opportunities are just as great today as they ever were.” - David Rockefeller (1915 - )

This Week's Highlights:

• Housing starts increased in February
• 2,800 jobs cut in February, unemployment rate slips to 7.4%
• Canadian consumer prices were 2.5% higher than in January 2011

This Week's Mortgage Market Update Contains:

• New take on household debt: Families have 'big cushion'
• Bank regulator targets mortgage disclosure
• U.S. existing home sales dip in February

This Week's Quotation:

“Don't aim at success - the more you aim at it and make it a target, the more you are going to miss it. For success, like happiness, cannot be pursued; it must ensue... as the unintended side-effect of one's personal dedication to a course greater than oneself.” - Viktor Frankl

This Week's Highlights:

• Housing starts increased in February
• 2,800 jobs cut in February, unemployment rate slips to 7.4%
• Canadian consumer prices were 2.5% higher than in January 2011

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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