Hello Everyone!
I am sorry that I have not put up any news in the past couple weeks, the news has been a little slower but still the economic situation in Europe is a leading factor as to why our rates are still continually slow.
A huge bonus to new clients is our 2.99% 5 year with all the great pre-payment conditions that you would expect with a 5 year mortgage. Very unlike the BMO market grab that they did earlier in the year.
In this week’s episode I go over the S&P downgrading their outlook on the 7 major Canadian banks from STABLE to NEGATIVE. This is in relation to the S&P thinking that the government has not done enough to try to reign in the excess debt Canadians are amassing through HELOCs valued at 80% LTV. I do think that within a year or 2 we will see the LTV at 65%.
Anyways, have a great week, enjoy the long weekend with friends and family!
Here is the video:
[youtube]http://www.youtube.com/watch?v=8T9Cdb8IPyU[/youtube]
Nick Bachusky, 613-294-4475, Ottawa Mortgage Specialist.
