Rates Are Down Again!

Today’s best rates...

4.90% = 6 month
3.20% = 1 year
3.69% = 2 year
3.64% = 3 year
4.09% = 4 year
3.85% = 5 year
5.30% = 6 year
5.15% = 7 year
5.25% = 10 year
3.30% = Variable

Call me today at 1-888-444-4198 for more information on mortgage rates, or to find out how you can get the financing package that meets your individual needs simply apply online at http://www.joemalek.com/

OAC. Certain conditions may apply. Rates are subject to borrower and property qualification. Posted rate is the rate offered by the majority of Canadian financial institutions. Rates may vary and are subject to change without notice.

Thank you

Joe Malek Mortgage Agent #M08004649

My Best Mortgage Rates

Are you back from your March break yet?

Check out my best mortgage rates!

This is the perfect time to refinance and consolidate debt or purchase your dream home. I can make sure you get the mortgage that meets YOUR needs.

Today’s best rates...

5.20% = 6 month
3.50% = 1 year
3.99% = 2 year
3.69% = 3 year
4.14% = 4 year
3.85% = 5 year
5.40% = 6 year
5.15% = 7 year
5.80% = 10 year
3.30% = Variable

Simply apply online at http://www.joemalek.com/

OAC. Certain conditions may apply. Rates are subject to borrower and property qualification. Posted rate is the rate offered by the majority of Canadian financial institutions. Rates may vary and are subject to change without notice.

Thank you

Joe Malek
Mortgage Agent #M08004649

Bank of Canada Cuts Again

The Bank of Canada cut its key interest rate by a half-point on Tuesday to a record low of 0.5 percent, as expected, but it’s really too bad they didn’t act sooner.

All of this rate cutting should’ve been done when Canadian dollar was $1.10 U.S. dollar.

It would’ve saved thousands of Canadian jobs and hundreds of foreclosures which despite what you see on your TV… IS happening here in Canada!

These rate cuts came in too late for thousands of homeowners who were not able to refinance and are now facing foreclosures, collection calls and judgments.

Don’t let this happen to you…

Go to my website www.joemalek.com where you can apply online… you just may qualify to reduce your monthly payments by 50% or more and save your home from foreclosure.

Joe Malek
Mortgage Agent #M08004649

Mortgage Rates Are Heading Down!

I expect the mortgage rates will go down in March making this the perfect time to refinance and consolidate debt or purchase your dream home.

I can make sure you get the mortgage that meets YOUR needs. Call me today and SAVE your money!

Today’s best rates...

5.20% = 6 month
3.50% = 1 year
4.75% = 2 year
4.19% = 3 year
4.39% = 4 year
4.34% = 5 year
5.40% = 6 year
6.00% = 7 year
6.35% = 10 year
3.80% = Variable

Call me today for more information on mortgage rates, or to find out how you can get the financing package that meets your individual needs or simply apply online at http://www.joemalek.com/

OAC. Certain conditions may apply. Rates are subject to borrower and property qualification. Posted rate is the rate offered by the majority of Canadian financial institutions. Rates may vary and are subject to change without notice.

Thank you

Joe Malek Mortgage Agent #M08004649

Get Expert Advice!

When it comes to mortgages, rates, and the housing market, I’ll speak to you in plain language. I can explain the various mortgage terms and conditions so you can choose confidently.

There’s absolutely no charge for our services on typical residential mortgage transaction.

How can I afford to do that?

Like many other professional services, such as insurance, mortgage brokers are generally paid a finder’s fee when we introduce trustworthy, dependable customers to a financial institution.

These fees are quite standard and nearly industry-wide so that the focus remains on you, the customer.

My current 5 year fixed rates are as follow...

4.34 for credit score 620+
4.19 for credit score 680+
4.14% for credit score 680+ and loan amount over $500,000

Do not hesite to email or call me if you have any questions or simply go to my site www.joemalek.com where you can apply online to get started.

Joe Malek
Mortgage Agent
M08004649

Today’s Best Rates!

I am pleased to announce rate decreases on 3 and 5 year term products.

Effective immediately, my today's best rates are now as low as 4.04% for 3 year and 4.14% for 5 year mortgages!

These rates are now available for home purchase or mortgage refinancing! Refinance your debt today to lower your monthly budget and make your home ownership more affordable.

Apply online at http://www.joemalek.com/

Thank you

Joe Malek
Mortgage Agent
M08004649

P.S. Rates are subject to borrower and property qualification.

Cost of Borrowing is Rising!

I received many great responses to my last article.

Most of you agreed with me that Canadian style housing meltdown is inevitable but one guy emailed saying “there is no way it will happen here”.

Boy, I certainly hope he is right!

However, Canadians received more proof of the global credit crunch hitting home after this country's biggest banks began hiking their residential mortgage rates in an effort to recoup higher funding costs from their customers.

All mortgages have become money losers for banks because of the cost of funds due to all the challenges that are going on in the world right now.

The interest rate increases follow days of forewarning by financial experts, who predicted Canadians would feel the pinch of the financial crisis through higher borrowing costs on consumer loans.

Bank of Canada Governor Mark Carney said that the credit crunch could intensify the current global economic slowdown and would have an impact on the cost of capital in Canada.

Investment bank Merrill Lynch Canada said that Canadian households are so deeply in debt that a "tipping point" is in prospect for the overall real estate market.

BMO Capital Markets recently warned that housing prices here need to fall nearly 10 per cent more than they already have to bring them back into line with household incomes, while a study by the University of British Columbia said that in some major cities prices would have to plunge 25 per cent.

The housing market is cooling, the stock market is reeling and to top it all off, consumers are now facing rising mortgage rates.

The increase means Canadian home owners are taking a direct hit from the sub-prime crisis, with banks passing on their higher borrowing costs to you.

Canada's economy is starting to retreat. With a well-paying, steady job, you have the confidence to take on long-term debt but what if you lose your job or your hours are cut back?

Take action now…

Go to my website page http://www.joemalek.com/refinance.html to learn more about your options and consolidate your debt today!

Joe Malek, AMP
www.joemalek.com

Mortgage Rates Changed Direction

Mortgage rates are going up instead of going down, a trend that's likely to continue as the Bank of Canada shifts its focus from stimulating the economy to taming inflation.

A five-year fixed mortgage now cost half a percentage point more than it did on Wednesday.

This means the average bank customer will pay a discounted rate of about 6.09 per cent for a five-year fixed term, compared with Wednesday's 5.59 per cent.

The move came sooner than some industry watchers had expected, and was driven largely by a spike in five-year bond yields caused by concerns about the rising cost of living.

Bond yields, on which fixed mortgage rates are based, rose sharply after the Bank of Canada surprised the markets with the announcement that it would freeze, rather than cut, its key lending rate.

The increase in mortgage rates comes at the same time the housing market is softening, with sales dropping and a glut of listings flooding the market in a number of cities.

A Statistics Canada study showed Canadians are finding themselves with two mortgages and deeper in debt than at any time in their lives. They are increasingly house poor, and with housing values sliding, they often owe more on their properties than they're worth.

About 17 per cent of all Canadian households have at least one mortgage, the highest percentage since 1981. The number of Canadians aged 60 and over with mortgages has been increasing since 2001.

And with the Bank of Canada poised for perhaps only one more interest rate cut before they start increasing rates in late fall to combat inflation, Canadians facing rising variable mortgage rates or fixed rates that will be reset at higher levels could find it tough to keep their homes.

If you are considering a home purchase or refinancing then go to my website www.joemalek.com to lock in your rate up to 120 days to protect yourself from further rate increases.

Thank you

Joe Malek, AMP
Accredited Mortgage Professional

Fixed Mortgage Rates Drop

Canadian financial institutions have begun to slash their mortgage rates.

BMO Bank of Montreal was the first to announce lower rates. Their 5 year closed mortgage will carry a posted rate of 6.65 per cent, a drop of a little more than a third of a percentage point.

Bigger cuts apply to shorter-term mortgages. BMO's one-year closed mortgage drops to 6.15 per cent. Its two- and three-year closed mortgages tumbled by 0.85 of a percentage point to 6.15 per cent.

These are all posted rates. Many consumers are actually able to get closed mortgages at rates that are a full percentage point or more below the posted rates. BMO, for instance, said its "special offer" rate for a five-year mortgage will drop to 5.59 per cent, down 0.34 of a percentage point.

If your credit is pretty good then you could qualify for my “quick close” special VERICO mortgage rate.

These 5 year fixed mortgage rates are my current deep discounted rates on deals closing before July 4. 2008 based on your loan size.

$1,000,000 + = 4.85%
$500K - 999K = 4.94%
$100K - 499K = 5.24%

These deep discount rates are yet another reason to apply for your mortgage at my website. Click here to get started.

Thank you


Joe Malek, AMP
Accredited Mortgage Professional