The last 4 weeks have seen huge changes in the mortgage industry. We saw fixed interest rates rise by almost 1% and the new mortgage qualifying rules took effect this past Monday.

Our best 5 year fixed rate is now 4.39%. The prime interest rate remains unchanged at 2.25% but is expected to rise in June.

The benchmark 5 year qualifying rate is currently 6.1%. This makes a big difference to the amount a person can qualify for, especially since we have been accustom to qualifying under 4% over the last year and a half. Refinances have now changed from 95% loan to value to 90% loan to value.

Home sales increased in the month of March by 29% over the same period in 2009. The median home price in Calgary for March was $423,000 up by 3% from the same time last year.

I would like to send a special thank you to those that have sent referrals over the past few months. Your support has been tremendous and greatly appreciated.

Please do not forget about my special referral package!

 

 

 



Contact Information
Calgary:
403.681.9099
Toll Free:
1.877.875.1946
Fax:
403.457.1548
Email:
laura@lbmortgages.com
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