This Week's Mortgage Market Update Contains:

• Is your home your sanctuary?
• Unwanted U.S. houses cost owners thousands in upkeep
• U.S. private sector sheds 473,000 jobs in June

This Week's Quotation:

"The highest reward for man's toil is not what he gets for it, but what he becomes by it." - John Ruskin (1819 - 1900)

This Week's Highlights:

• Canadian interest rates to remain low; long-term bond yields to grind lower with USTs
• Canadian dollar's strength presents clear and present danger to economic outlook
• Inflation rate stays in positive territory

This Week's Mortgage Market Update Contains:

• Condo resales are on a roll
• Erosion of household worth slowing
• New home sales unexpectedly drop of 0.6 per cent in May

This Week's Quotation:

"Slow down and enjoy life. It's not only the scenery you miss by going too fast - you also miss the sense of where you are going and why." - Eddie Cantor (1892 - 1964)

This Week's Highlights:

• Housing starts perk up
• It was the worst of times
• Is the end in sight?

This Week's Mortgage Market Update Contains:

• Is it time to lock in your mortgage?
• Confidence in housing market a 'good sign': economist
• U.S. house construction rises in May

This Week's Quotation:

"The only limit to our realization of tomorrow will be our doubts of today." - Franklin D. Roosevelt (1882 - 1945)

This Week's Highlights:

• Housing starts perk up
• It was the worst of times
• Is the end in sight?

This Week's Mortgage Market Update Contains:

• Long-term mortgage rates on the rise
• Mortgage break fees are clear as mud
• Mortgage Applications Fall as Interest Rates Jump

This Week's Quotation:

"The big secret in life is that there is no big secret. Whatever your goal, you can get there if you're willing to work." - Oprah Winfrey (1954 - ), O Magazine

This Week's Highlights:

• Risky business
• It was the worst of times
• Is the end in sight?

This Week's Mortgage Market Update Contains:

• Five banks raise mortgage rates
• Canadian consumer confidence climbs to highest level in 15 months: Harris-Decima
• Bernanke urges work to curb growing deficits

This Week's Quotation:

"You have to have confidence in your ability, and then be tough enough to follow through." - Rosalynn Carter (1927 - )

This Week's Highlights:

• Housing starts reverse course
• Lowest annual inflation rate in almost 15 years
• QE or not to QE -- That is the question

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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