1] Canadian Government announces 3 new rules for home financing, that will take affect April 19, 2010. 
   Important note: These new rules apply to government-backed insured mortgages only.
    *  Borrowers will need to qualify for a 5-year fixed rate regardless of what term they choose.
    *  Borrowers will no longer be able to refinance their homes to 95% of it's value. 90% will be the new 
       refinance maximum.
    *  People buying non-owner occupied rental properties will need to put down 20% to get an insured 
       mortgage, versus 5% previously.
2] Prime rate for the week of Feb 22: 2.25

3] Available posted rates:
       Variable: 1.95
      
5 yr fixed: 3.89 (compared to banks posted rate of 5.39)

Warm regards,
 
Margaret Dron
Mortgage Consultant | Invis
www.BCMortgageAdvice.com
Office:  604-430-2090
Mobile: 778-888-6274