Dear
Millionaire School Attendees,
A WARM WELCOME from Dan Heon at ProLink Mortgages to the new
Mortgage News providing you with all
the information you need to keep your business profitable and enjoyable. Mortgage News will be published in
concise monthly editions offering information, suggestions, tips and
opportunities at-a-glance to investors.
Thank you for your positive feedback and for your
interest in the Gold Member Mortgage Investing Program. Congratulations on taking this opportunity
to keep up-to-date with what is going on in the industry. I am convinced that
this is the place to be! We are on the
threshold of unprecedented opportunity for financial freedom with mortgage
investing. As this newsletter is for your benefit and information, I welcome
any questions you have and suggestions for topics you would like covered. You may email my assistant, Rebecca, at r.heon@excite.com
I came upon this interesting article which I
would like to pass on to you:
OTTAWA (CP) - Citing global uncertainties, the
Bank of Canada left its key overnight interest
rate unchanged at 2.75 per cent Wednesday and
kept the bank rate at three per cent. However,
the central bank warned that rate increases are
inevitable.
"It remains the bank's view, going forward, that
timely removal of monetary stimulus will be
required to achieve the inflation target over the medium term," it said in
a statement.
"The pace of monetary policy tightening will depend on unfolding economic,
financial and geopolitical developments and their implications for pressures on
capacity and inflation in Canada."
While domestic conditions might have supported a rate hike, the bank resisted
the urge to raise rates immediately because of offshore factors.
"The outlook for global economic activity has weakened, reflecting
uncertainty about economic, financial and geopolitical developments, as well as
a reduced tolerance for risk in global financial markets," it said.
"These uncertainties and the weaker global outlook may dampen growth in
aggregate demand for Canadian output in the near term."
The Canadian economy has shown unexpected strength this year, defying the
sluggish performance recorded in the United States.
Overall inflation in Canada was at 2.6 per cent in August, with the core rate -
measuring the most volatile items in the price index - hitting 2.5 per cent.
That's well above the bank's two per cent target for core inflation.
Job-creation remains strong, despite some slippage last month, when most new
jobs were part-time. The economy grew by 4.3 per cent in the second quarter of
the year, with real consumer spending up 3.0 per cent.
David Dodge, governor of the bank, has warned repeatedly that he's prepared to
raise rates as needed to rein in the economy. But the has also tempered those
warnings by saying increases have to be measured and timely.
Given uncertain prospects abroad, the bank does not want to cool the economy
right away.
Economists predict, though, that rates will rise by two percentage points next
year.
The next scheduled interest rate announcement is Dec. 3.
I will keep you all informed.
Our website http://www.canadiannotenetwork.com/ will be finished construction soon.
Today’s ProLink Interest Rates on First Mortgages are as follows:
Rates are subject to change without notice.
|
Description |
Best
Rate |
|
5 Year
Variable |
1.99
% |
|
6 Month
Closed |
4.75
% |
|
1 Year
Closed |
4.10
% |
|
2 Year
Closed |
4.80
% |
|
3 Year
Closed |
5.05
% |
|
4 Year
Closed |
5.60
% |
|
5 Year
Closed |
5.50
% |
|
7 Year
Closed |
6.09
% |
|
10 Year
Closed |
6.35
% |
|
15 Year
Closed |
6.79
% |
|
18 Year
Closed |
6.85
% |
|
25 Year
Closed |
7.05
% |
Regards,
Dan Heon
Phone:
403-257-1801
Fax:
403-206-7622
Toll Free:
1-888-281-0111
Email: ProLink@telus.net