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Steve Sedgwick
Royal Lepage Noralta Real Estate
3018 Calgary Trail, Edmonton, Alberta
P: 780-431-5600
F: 780- 431-5624
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Thursday, March 25, 2010 - Interest rates expected to climb.

There is much talk about an increase in interest rates in Canada. If you are considering a purchase, your current mortgage is coming up for renewal, or you have an open variable mortgage you may want to investigate your options for locking in for the longer term.I suspect a substantial increase over the next 2-4 years. It is possible, and some say even likely, that we will see a 5 year fixed mortgage rate greater than 7% and as high as 10% in that time frame. My personal opinion is that it is ... Full Article...

posted in General at Thu, 25 Mar 2010 11:43:24 -0600

Monday, March 8, 2010 - Revised CMHC Rules Announced

The following is a copy of an update I received from one of my mortgage brokers.SteveCMHC NEW RULESEffective April 19, all high-ratioinsured mortgages that have a variable rate or a fixed term under five years will be qualified using the greater of:the chartered bank 5-year posted rate (5.39% today), or the contract rate. There?s been a lot of speculation surrounding this change. The new qualifying rate has been a big question mark ever since the Finance Department announced its new mortgage ... Full Article...

posted in News at Mon, 08 Mar 2010 12:17:44 -0700

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