Mortgage Loan Minute
... 60 seconds to informed home ownership
In This Issue
Newcomers to Canada
Are you sitting in the dark?
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  Current interest rates:

  Prime Rate ................... 5.25
  3 year fixed ..................  5.50 
  5 year fixed ..................  5.59
  7 year fixed ..................  6.00
  10 year fixed ................. 6.15
  Variable rate ................. 4.65
Tracy Irwin, AMP
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Thank you for taking the time to respond to our recent survey.  Your response has made a tremendous impact.  Over the next few months, we will be sharing the results with you.
Participation rate was 10% while the industry average is only 5% - way to go and thank you!
Winner of the $75.00 gift certificate for a restaurant of their choice is S. Lategan, Oakville - Congratulations!
Newcomers to Canada

The Ontario government announced that the changes to the immigration policy will include 300,000 new immigrants annually within the next five years.

If you are a newcomer to Canada either with temporary status, a permanent status or living as an expatriate and looking for mortgage financing, there are some unique challenges.

The single biggest obstacle you will face is being able to provide credit history.   Some international credit reports are incomplete and not reliable in providing the documentation required to qualify for a mortgage according to Canadian lending guidelines.

Are you sitting in the dark?

Susan Smith - Ambiance, Outdoor Lighting Specialists
Picture this -  you have had an incredibly stressful day, ridiculous traffic delays - you finally get home, open up a bottle of wine, go outside to enjoy your outdoor living space - and it's dark!
Landscape lighting is the first item to get cut from the budget of any landscaping design.  Why is this, when in fact it can be the most rewarding part?  Most of our clients say it is due to budget constraints.
Yes, it may be an expensive proposition, but homeowners are spending thousands of dollars on creating outdoor living spaces.  An investment into lighting increases your pleasure and the amount of time you can enjoy your outdoor experience.
Click Are you sitting in the dark?
Charlie Sifford, the groundbreaking African American golfer, was thirteen in 1935 when he got his first job as a caddie.  At the time he was earning $2 a week.  In 1961. Sifford broke golf's colour barrier when, as a 41 year old rookie, he became the first African American to play full-time on the PGA Tour.  He won two events that decade and continued to open for other blacks.  In 2004, he became the first black inducted into the World Golf Hall of Fame.
Tracy Irwin
The Mortgage Centre