Mortgage Loan Minute
... 60 seconds to informed home ownership
In This Issue
New Laws and Regulations for Mortgage Brokers
Designing your Dream Kitchen
Quick Links
  Current interest rates:

  Prime Rate ...................  4.75
  3 year fixed ..................  4.89 
  5 year fixed ..................  5.15
  7 year fixed ..................  5.70
  10 year fixed .................  5.80
  Variable rate .................  4.00
Tracy Irwin, AMP
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New Laws and Regulations for Mortgage Brokers ... What They Mean for You

Effective July 1, 2008, new legislation and regulations for Mortgage Brokers and Agents will take effect.  

This legislation was designed to provide full disclosure by the mortgage industry and protect consumers.

You now have access to a database on the Financial Services Commission of Ontario website to confirm that your broker's licence is in good standing.  Please take a moment and review my status by clicking FSCO to see how this works.
There are also new eductional requirements in order to hold/maintain the position of "agent" or "broker".  I am delighted to report that I have already surpassed those requirements by completing my mortgage broker designation as of April 2008.   
What does this mean for you?  You already know a trusted and qualified mortgage broker who offers "mortgage solutions that open doors"!

For more information, you can visit the FSCO website at


Designing your Dream Kitchen

Soraya Esmail, Soraya's Kitchen 
Today's kitchen is usually the home's focal point and is likely the most used room in the house.
A kitchen should be functional, but at the same time, should be comfortable and inviting  - a place for family and friends to gather and enjoy themselves.
Designing a kitchen requires attention to both purpose and esthetics, because we all know that the kitchen is the key to your long-term enjoyment of your home. A new kitchen is an investment that's yours to enjoy for years to come. That's why it's so important that the people you work with listen to your needs and make sure that the job is done right.
At the 2005 Bruno's Memorial, Champions Tour player Bruce Lietzke was paired with retired NBA star Charles Barkley.  He said Barkley's often-ridiculed swing was positively explosive.  "I couldn't watch," Lietzke said.  "It's like looking at a nuclear blast.  You think you might burn your retinas as you turn away." 
Kind of reminds me of my most recent golf swing video....good thing I have a day job!
Tracy Irwin
The Mortgage Centre