This Week's Mortgage Market Update Contains:

• Mortgage lending tightens for self-employed, immigrants
• Limit on CMHC mortgages could tighten lending and slow housing market
• US construction spending rose 1.5 pct. in December with housing and government both up

This Week's Quotation:

“Change has a considerable psychological impact on the human mind. To the fearful it is threatening because it means that things may get worse. To the hopeful it is encouraging because things may get better. To the confident it is inspiring because the challenge exists to make things better.” - King Whitney Jr.

This Week's Highlights:

• Housing starts show strong increase in December
• Employment rises in December: unemployment rate also rises
• Inflation rate held at 2.9% in November

This Week's Mortgage Market Update Contains:

• Central bank stands pat with 1% rate
• Moderate growth eases concern of crash in housing market
• Why are mortgage rates hitting record lows?

This Week's Quotation:

“When you win, say nothing. When you lose, say less.” - Paul Brown (1908 - 1991)

This Week's Highlights:

• Housing starts show strong increase in December
• Employment rises in December: unemployment rate also rises
• Inflation rate held at 2.9% in November

This Week's Mortgage Market Update Contains:

• Canada Mortgage and Housing Corp. says housing starts rose in December
• Consumer debt still rising, but at slower pace
• Fed officials push more stimulus for U.S. housing

This Week's Quotation:

“Human beings, by changing the inner attitudes of their minds, can change the outer aspects of their lives.” - William James (1842 - 1910)

This Week's Highlights:

• Using CMHC Programs to Help You Build Equity in Your Home

This Week's Mortgage Market Update Contains:

• How Being Self Employed Impacts Your Mortgage Qualification
• Aging baby boomers helping change face of Canada's housing market: CMHC
• Construction spending increased 1.2 per cent in November, led by gains in housing

This Week's Quotation:

“Mach-S, the speed at which stress can't keep up, is simply forward motion. But it has to be self- propelled. Note that people in cars are still stressed.” - Jef Mallett, Frazz, 08-26-05

This Week's Highlights:

• Housing starts decline in November
• Labour market drops
• Inflation rate held at 2.9% in November

This Week's Mortgage Market Update Contains:

• Canadian economy 'vulnerable' to overheated housing market, IMF warns
• Surrey tops real estate investment list
• U.S. new-home sales up 1.6 per cent in November, but 2011 worst year on record

This Week's Quotation:

“There's only one corner of the universe you can be certain of improving, and that's your own self.” -  Aldous Huxley (1894 - 1963)

This Week's Highlights:

• Housing starts decline in November
• Labour market drops
• Inflation rate held at 2.9% in November

This Week's Mortgage Market Update Contains:

• Top 10 Questions to Help You Find the Right Mortgage Broker
• 5 reasons why a fixed-rate mortgage could be your best bet
• Rates you can take to the bank

This Week's Quotation:

“The only courage that matters is the kind that gets you from one moment to the next.” -  Mignon McLaughlin, The Second Neurotic's Notebook, 1966

This Week's Highlights:

• Housing starts decline slightly in October
• Employment tumbled in October
• Annual headline and core inflation rates up in September

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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