Mortgage Loan Minute 60 seconds to informed home ownership
In This Issue
Combining your Mortgage
Water Damage Nightmares!
Quick Links
  Current interest rates:

  Prime Rate ................... 4.75
  3 year fixed ..................  5.19 
  5 year fixed ..................  5.14
  7 year fixed ..................  5.55
  10 year fixed .................  5.55
  Variable rate .................  4.10
Tracy Irwin, AMP
Join Our List
Join Our Mailing List

The U.S. banking "woes" continue to plague our economy.  As I am sure you have already heard, Lehman Brothers filed for Bankruptcy and Merrill Lynch was bought byThe Bank of America.  These recent developments has resulted in additional liquidity issues in the credit markets. 
Stay tuned for changes and the impact to our mortgage interest rates in the coming months!
Combining your Mortgage, Line of Credit and Banking into one Account...What's all the Hype? 

Some lenders have introduced mortgage accounts that combine your mortgage, line of credit, personal loans, chequing and savings accounts.  The theory is that you can save money by combining all your bank accounts into a single flexible mortgage account.

How does it work?

The money from your savings and chequing accounts are applied against your mortgage so that you are reducing your mortgage limit and saving mortgage interest expense instead of collecting the negligible daily interest savings interest from your bank.
Click "Combining your Mortgage"
Forward to a Friend

Water Damage Nightmares and your Homeowner's Insurance Policy

Matthew Poort, PV&V Insurance Centre
Over the past few years and especially this summer, the frequency and severity of water damage claims have been increasing.  We have experienced substantial flooding in Peterborough, Stoney Creek, Hamilton and Burlington.  Did you know that not all water damage claims are covered by your homeowner's insurance policy? 
Are you protected?

Comic actor and golf nut George Lopez said it was unlikely he, boxer Oscar de la Hoya, and PGA player Robert Gamez would be partnered during the 2005 AT&T Pebble Beach National Pro-Am.  "That would be three Latinos together at one time, which is considered a gang," he joked.
Tracy Irwin
The Mortgage Centre