YOUR CANADIAN MORTGAGE BROKER

February 1, 2010

MCAP - IMPORTANT CHANGES - Removal of Sales Only Clause!

MCAP is happy to announce the removal of the Sales Only Clause!!!

As always we are committed to moving forward with your needs in mind. January 21st MCAP confirmed the removal of the Sales Only Clause.

What does this mean to you?

Based on the announcement dated January 21st, MCAP will no longer have a Sales Only clause attached to our regular fixed rate and variable rate mortgages funded after the announcement date.

We have removed from our commitment letters and our various Standard Charge Terms across Canada.

OPTIONS for MCAP mortgages currently subject to the Sales Only clause:

Please note this information applies to ONLY mortgages funded from MARCH 31, 2008 to JANUARY 25, 2010

As always, MCAP will continue to offer rate blends, term extensions, porting and assumption options that will satisfy most re-financing needs. In the event that a borrower wishes to pursue any of these options, MCAP must be given the first right to satisfy their changing borrowing needs.


BREAKING NEWS

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September 1, 2010
Not that there are a lot of people buying houses these days, but the answer to the age-old question of whether to go long or short on your mortgage is unclear yet again.
August 25, 2010

CALGARY - It's taking Calgarians longer now to sell their homes on the MLS market.

According to preliminary unofficial data on the website of realtor Mike Fotiou, of First Place Realty, so far this month up until Sunday the average days on the market for a single-family home to sell was 52 while it was 53 days for condominiums.

August 17, 2010
Five of Canada's major banks reduced many of their posted mortgage rates by one-tenth of a percentage point, effective today.
August 11, 2010
When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network (REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest.

www.mymortgage.ca

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FAX: 1.866.392.3672

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Calgary, AB. T3A 2V7

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