Down Town( City Centre) (Fort McMurray, AB)
By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
 A friend Gary Tagg sent me this report. With the election now in the past, the big news headlines are all about the economy. Terms such as "credit crunch" have been coined to try and describe what the international financial sector has been experiencing.We thought we would spend a few minutes and go over how this credit crunch has affected the mortgage markets. 1. Existing Adjustable Rate Mortgages If you are fortunate enough to be in a floating interest rate mortgage, you have probably noticed your payments decrease over the past several months. You will also notice in November that your payments will have gone down again.Prime, which your mortgage rate is floating against has gone from 6.25% all the way down to 4.0%. For many of our clients, that means an interest rate less than 3.5%...
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Fort McMurray, AB Real Estate Professionals