Welcome to Your Mortgage Newsletter

Hello, I wanted to welcome you to the first edition of the Mortgage News Letter in the Okanagan.

Although we have been publishing this News Letter for over two years now throughout Alberta, we are excited to be expanding our business to you and your fellow Okanagan `ers.

You will find Your Mortgage News Letter emailed to you once a month, usually in the first week depending on the holidays. It will contain local news on the industry, mortgage tips, local business support and articles that are enjoyable and knowledgeable.

There will be a varity of sorts and we do encourage your questions. When questions are sent in you may look in the following News Letter and find that we have addressed that question with an insightful answer.

You may also add your friends, family or business partners to the News Letter by either forwarding it or signing them up to receive it. You may at anytime sign your self off of the list as well.

As you may know, we can help with your personal mortgage needs, business mortgage needs and of course the investing needs that can appear in a short time frame.

Thank you for meeting with us earlier and we look forward to working with you on all your mortgage needs.

Steven Faux Your Mortgage Agent
Direct Office Line: 250-768-0535
Direct Fax Line: 250-768-0510
Email: steve@yourmortgages.ca

A Time To Remember

Each year, Canadians pause on November 11 to remember the Veterans who served our country in times of war during the 20th century — the men and women who died or risked their lives while serving in the Army, the Air Force, the Navy, the Merchant Navy, and with peacekeeping forces. We also remember the men, women and children who rallied to support Canada's war efforts in countless ways in homes, businesses, factories, voluntary service organizations and schools across the country.

Through the yearly celebration of Veterans' Week, we have a unique opportunity to better understand the achievements of men, women and children of all ages, from all backgrounds and in all areas of endeavor, who contributed wherever they were needed in wartime.

Getting involved is the first step toward remembering the past, understanding the present and facing the future.

Bank of Canada Cuts Growth?

TAVIA GRANT - Globe and Mail Update

The Bank of Canada left its key lending rate unchanged Tuesday at 4.25 per cent and lowered its economic forecast.

It's the third time in a row the central bank has left rates on hold as inflation quickens in Alberta, but remains muted in the rest of Canada. For the first time, the central bank said it expects core inflation to creep above its 2-per-cent target over the near term.

Economists said the statement suggests the central bank won't likely budge on the interest-rate front any time soon.

"Although the bank did, indeed, lower its forecast for economic growth, there is not even a whiff of potential rate cuts in its statement," said Marc Lévesque, chief strategist at TD Securities Inc., in a note. "The bank is clearly still in wait-and-see mode."

While domestic demand continues to be robust, economic growth "over the second and third quarters of 2006 has been weaker than expected, largely because of weaker net exports," the bank said, adding that labour productivity growth has also been lower than expected.

"The current level of the target for the overnight rate is judged at this time to be consistent with achieving the inflation target over the medium term," the bank said.

A weakening U.S. economy has curbed the near-term prospects for Canadian exports and growth, the central bank said. It now expects Canada's economy to grow 2.8 per cent this year, from a previous forecast of 3.2 per cent. It sees growth of 2.5 per cent in 2007, and 2.8 per cent the year after that.

The bank said the Canadian economy is still operating "just above" its production capacity.

Risks in its projections are now greater than they were in the central bank's last report in July. The main risks of an over-heated economy are the momentum in household spending and housing prices.

The main risk of a slowdown is that the U.S. economy could ease more sharply than expected, the bank said, leading to lower demand for Canadian exports.

The bank also revised its stance on inflation in the short term. Core inflation is expected to move "slightly" above 2 per cent in coming months, and return to 2 per cent by the middle of 2007.

Total inflation, which includes the temporary impact of the GST reduction, will likely average about 1.5 per cent through to the second quarter of 2007, before returning to the 2-per-cent target and remaining there through to the end of 2008, the bank said. The risks to its inflation projections are "roughly balanced," according to the bank.

Economists had expected rates to stay unchanged today. Several predict the central bank will trim interest rates in the first half of next year amid tepid economic growth.

The target for the overnight rate dictates to major banks the average lending rate the Bank of Canada wants to see in the marketplace when they lend each other money for one day, or "overnight."

The overnight rate influences everything from mortgage rates and credit card rates to the Canadian currency. At 4.25 per cent, the overnight rate is the highest since 2001.

Following the announcement, the Canadian dollar was trading 0.04 of a cent lower at 87.9 cents (U.S.).

The central bank will provide more details on its views Thursday, with the release of its monetary policy report.

Did You Hear?

That the B.C government has an idea to cure or slow obesity in the B.C area? Taxing junk food by 40%! If you think I am kidding, in 3 years from now if you paid 40% tax on a candy bar you will recall me saying, "I am not kidding!"

FCm Travel Solutions

Click here to download information on FCm Travel Solutions from:

Wes Flanagan

Steve's Rates

YourMortgages.ca Premium Rates
Mortgage Term	Steve's Rates	Bank Rates
Variable Rate	3.50%	6.25%
6 Month Closed	5.85%	5.95%
1 Year Closed	5.35%	5.75%
2 Year Closed	5.52%	5.90%
3 Year Closed	5.39%	6.00%
4 Year Closed	5.36%	6.15%
5 Year Closed	5.34%	6.30%
7 Year Closed	5.53%	6.95%
10 Year Closed	5.74%	7.40%
15 Year Closed	6.09%	n/a
18 Year Closed	6.17%	n/a
25 Year Closed	6.28%	n/a

Rates are subject to constant change, for the best rates call 667-9816.

Resources

Business Supporting Business — Thank You:

Insurance
Canyon Insurance covers all your needs, ask for Harry Mason
hmason@canyoninsurance.ca

Musician
claytoni@telus.net

Senotrini Spa & Wellness
www.scentorinispa.com

FCm Travel Solutions
wes.flanagan@fcmtravel.ca

Two Amigos Moving
www.twoamigos.com

Friends Supporting Friends — Thank You:

Evan William's Group
www.evanwilliamsgroup.com

otis & huckleberry
www.otishuck.com

For your Recreational Investments — www.buycanadaproperty.com

WFG SECURITIES OF CANADA
George Negrette
Mutal Fund Representative
P:403-809-7885
E: gnegrette@shaw.ca

A Quote to Note:

Courage is the first of human qualities because it is the quality, which guarantees all others.
- Sir Winston Churchill

Contact

At Prolink Mortgage Inc., I have over 30 lending financial mortgage institutions in Canada with Steve Faux sourcing the best rates and the best products to suit your needs!

Direct Line — 250.768.0535

Direct Fax — 250.768.0510

Email — steve@yourmortgages.ca