This Week's Mortgage Market Update Contains:

• New transit lines will drive house prices
• Credit crunch handcuffs bank, Carney says
• Jump in U.S. productivity beats forecasts

This Week's Quotation:

"Creativity can solve almost any problem. The creative act, the defeat of habit by originality, overcomes everything." - George Lois

This Week's Highlights:

• Fed and Bank of Canada signal end of easing cycle is near
• Market expectations shifting as market turmoil eases
• Signs emerging that financial markets are stabilizing

This Week's Mortgage Market Update Contains:

• Canadian economy slows in February
• Banks bank on 'healthy' Canadian consumer
• Market disconnect

This Week's Quotation:

"Wit is so shining a quality that everybody admires it; most people aim at it, all people fear it, and few love it unless in themselves." - Lord Chesterfield (1694 - 1773)

This Week's Highlights:

• DP rebounds, regains lost ground
• Job growth slows after two months of blockbuster gains
• Housing starts stay strong

This Week's Mortgage Market Update Contains:

• Bank of Canada cuts interest rate, growth outlook
• 2 views of scary times
• U.S. mortgage applications plunge

This Week's Quotation:

"If we fall, we don't need self-recrimination or blame or anger - we need a reawakening of our intention and a willingness to recommit, to be whole-hearted once again." - Sharon Salzberg, O Magazine, The Power of Intention, January 2004

This Week's Highlights:

• DP rebounds, regains lost ground
• Job growth slows after two months of blockbuster gains
• Housing starts stay strong

This Week's Mortgage Market Update Contains:

• Do homework before buying abroad
• Shy lenders, and the oil patch, will help Canada fend off recession
• U.S. home foreclosures climb in March

This Week's Quotation:

"Success is a journey, not a destination. The doing is often more important than the outcome." - Arthur Ashe

This Week's Highlights:

• DP rebounds, regains lost ground
• Job growth slows after two months of blockbuster gains
• Housing starts stay strong

This Week's Mortgage Market Update Contains:

• Shoppers in driver's seat
• Liberals mulling a 'green mortgage' plan
• U.S. won't repeat Japan's 'lost decade,' says Fed official

This Week's Quotation:

"Never again clutter your days or nights with so many menial and unimportant things that you have no time to accept a real challenge when it comes along. This applies to play as well as work. A day merely survived is no cause for celebration. You are not here to fritter away your precious hours when you have the ability to accomplish so much by making a slight change in your routine. No more busy work. No more hiding from success. Leave time, leave space, to grow. Now. Now! Not tomorrow!" - Og Mandino (1923 - 1996)

This Week's Highlights:

• GDP rebounds, regains lost ground
• Job growth slows after two months of blockbuster gains
• Housing starts stay strong

This Week's Mortgage Market Update Contains:

• Young home buyers should invest cautiously despite unusually low interest rates
• Longer payback loan fuels housing market
• Global slowdown is good for Canada, central bank says

This Week's Quotation:

"Real, constructive mental power lies in the creative thought that shapes your destiny, and your hour-by-hour mental conduct produces power for change in your life. Develop a train of thought on which to ride. The nobility of your life as well as your happiness depends upon the direction in which that train of thought is going." - Laurence J. Peter (1919 - 1988)

This Week's Highlights:

• Inflation -- Not a problem in Canada
• Inflation still a worry for the Fed
• Financial markets price in aggressive Canadian and U.S. rate cuts

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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