The Mortgage Minute

The clock continues to tick

Not much new last week with the pipeline fiasco. The deadline for government help approaches and still not real threats from Ottawa. What will this week hold?

Warehousing and distribution centers become Alberta’s next big economic driver.

Everyone looks for the next big business in Alberta. I think it has already arrived and continues to thrive.

Supersized warehouses are popping all over the NE near the airport. With Amazon’s announcement last year and Walmart working on plans for a second Alberta location. The two big giants have a good feeling about Alberta’s future.

Finance minister continues to worry about consumer debt

Record debt levels continue to haunt Canadians. They have been signing this tune for the last two years. They fail to realize that even though a nasty recession we can survive.

The majority of the debt is housing related with mortgages. With auto loans or leases next in line.

Oil approaches $70 per barrel

We could see a barrel of oil surpass $70.00 early this week. Even with our discount that is still a positive sign for the oil business.

Fixed rates go up again!

The major banks all raised their fixed rates last week and it has trickled down to the monoline lenders. The base 5-year rate is now 3.44% with discounts 3.34%

The upward trend continues.

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