Clients to Thank This Month

Matt and Karie Sedman, Wade Thackery, Judy Wong and Christina Andreef.

Thank you for your continued Business Support and I look forward to being there for your next Mortgage!

I WENT TO SEE THE SOLDIERS

I went to see the soldiers, row on row on row,
And wondered about each so still, their badges all on show.
What brought them here, what life before
Was like for each of them?
What made them angry, laugh, or cry,
These soldiers, boys and men.
Some so young, some older still, a bond more close than brothers
These men have earned and shared a love, that's not like any others
They trained as one, they fought as one
They shared their last together
That bond endures, that love is true
And will be, now and ever.
I could not know, how could I guess, what choices each had made,
Of how they came to soldiering, what part each one had played?
But here they are and here they'll stay,
Each one silent and in place,
Their headstones line up row on row
They guard this hallowed place.
- Kenny Martin

Taste of the Westbank

I am officially letting you know the first day of November is here! I had the opportunity to be a part of the Rotary Taste of Westbank 2009. My role was to gain the support of the businesses on the Westside and ensure their needs where met for this function. Please see the attachment as we could not have done this with success, with out there support. The community needs support, as we all know it supports us. Our goal was to raise funds for the Children's Water Park opening in 2010 on the Westside. We had this event as a Mardi Gras theme and the food fare was fantastic. The Restaurants that participated in this presented samples of their dishes. We ate and ate until there was a winner. The winner was Mike from Fintasticly Fresh. We then proceeded with our Silent Auction to raise more funds. It ended off with some dancing and great wine. I am very proud to say that we as a Rotary group raised some big funds for the Water Park and look forward to doing it all again next year.
Your Mortgage Broker, Steven Faux

Bank of Canada Rates

Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010

OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.

Recent indicators point to the start of a global recovery from a deep, synchronous recession. Global economic and financial developments have been somewhat more favorable than expected at the time of the July Monetary Policy Report (MPR), although significant fragilities remain.

A recovery in economic activity is also under way in Canada. This resumption of growth is supported by monetary and fiscal stimulus, increased household wealth, improving financial conditions, higher commodity prices, and stronger business and consumer confidence. However, heightened volatility and persistent strength in the Canadian dollar are working to slow growth and subdue inflation pressures. The current strength in the dollar is expected, over time, to more than fully offset the favorable developments since July.

Given all of these factors, the Bank now projects that, relative to the July MPR, the composition of aggregate demand will shift further towards final domestic demand and away from net exports. Growth is expected to be slightly higher in the second half of this year than previously projected but to average slightly lower over the balance of the projection period. The Canadian economy is projected to grow by 3.0 per cent in 2010 and 3.3 per cent in 2011, after contracting by 2.4 per cent this year. This is a somewhat more modest recovery in Canada than the average of previous economic cycles.

The Bank now expects that the output gap will be closed in the third quarter of 2011, one quarter later than it had projected in July. Correspondingly, inflation is also expected to return to the 2 per cent target in the third quarter of 2011, one quarter later than in July's projection.

While the underlying macroeconomic risks to the projection are roughly balanced, the Bank judges that, as a consequence of operating at the effective lower bound, the overall risks to its inflation projection are tilted slightly to the downside.

Conditional on the outlook for inflation, the target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010 in order to achieve the inflation target. Consistent with this conditional commitment, the Bank will continue to conduct longer-term Purchase and Resale Agreements based on existing terms and conditions and according to the accompanying schedule: http://www.bankofcanada.ca/en/notices_fmd/2009/notice_fad201009.pdf.

In its conduct of monetary policy at low interest rates, the Bank retains considerable flexibility, consistent with the framework outlined in the April MPR.

Information note:
A full update of the Bank's outlook for the economy and inflation, including risks to the projection, will be published in the MPR on Thursday, 22 October. The next scheduled date for announcing the overnight rate target is 8 December 2009.

CALGARY REAL ESTATE

CALGARY - For the sixth consecutive month, MLS residential sales in Calgary have increased from year-ago levels in both the single-family home and condominium markets--another sign the local real estate market has rebounded from its malaise earlier in the year.

The strength of the market can also be seen in average house prices. Today, single-family homes, for example, are selling in the neighbourhood of $50,000 more than they were in January.

The housing market today is far more positive than it was last October, said Kathleen LaPlante, a realtor with Re/ Max Realty Professionals.

"Buyers are excited. They have choices. Sellers are excited to be getting the offers," said LaPlante.

Click here to read more.

FIVE THINGS TO REMBER TO GETTING PRE QUALIFIED

With mortgage rates and home prices falling and inventory way up, it's a home buyer's market in Alberta and B.C. But the U.S housing crisis and the global recession has made Canadian lenders more selective about who gets mortgage financing. Remember, obtaining a mortgage is privilege, not a right. A little more preparation on your part could be the difference between approval and rejection.

Here are five things you could do to help your chances of getting approved:

Because your credit rating will affect the mortgage terms and rate that the lender offers you, make at least the minimum payment by the due date on your outstanding bills. Better yet, pay your bills off in full every month and reduce the number of unnecessary credit applications. For example, credit card kiosks at the airport or malls will do credit checks on you when you apply, which can negatively affect your credit score. One of the many advantages of working with a Mortgage Broker is that I will share your credit rating with you before approaching lenders.
Know the total amount you are willing to spend on your mortgage per month. This amount should include mortgage payment, property tax payment, home insurance, utilities, and any applicable condo fees, purchase closing costs, and other associated fees.
Have proof of your employment history.
Have your personal information handy, such as social insurance (SIN) number, date of birth, contact information and three-year history of residences.
Have your basic net worth information available, including an account of any assets and liabilities.

Weekly Market Commentary

North American markets close lower despite flurry of favourable earnings reports

Despite an abundance of better-than-expected third-quarter earnings reports, North American equity markets retreated this week as investors paused to take stock of the seven-month rally in equity markets.

Canada's S&P/TSX composite index slipped 1.1% over the week ended October 23, 2009 as nine of the benchmark's 10 sectors closed lower. The TSX's Energy, Health Care and Information Technology sectors led the retreat, all falling more than 2%.

The benchmark's Telecommunications Services sector was the sole advancer on the week, adding 1.4%... Learn More

This article of intrest was presented By Jocko Toic at the Investors Group. If you would like more one on one information, please feel free to contact him at:

Jocko Toic - CFP FMA CDFA
Investors Group Financial Services
3500 Carrington Road, Suite 102, Westbank BC, V4T 3C1
Ph. 250-869-9636
Email jocko.toic@investorsgroup.com
Success starts with a Sound Plan

Steve's Rates

YourMortgages.ca Premium Rates
Mortgage Term	Our Rates	Standard Rates
Variable Rate	2.05%	3.00%
6 Month Closed	4.75%	4.95%
1 Year Closed	2.55%	2.75%
2 Year Closed	3.20%	4.75%
3 Year Closed	3.69%	4.75%
4 Year Closed	3.59%	5.30%
5 Year Closed	4.04%	4.84%
7 Year Closed	4.99%	6.60%
10 Year Closed	5.10%	6.95%
15 Year Closed	9.05%	0.00%
18 Year Closed	9.05%	0.00%
25 Year Closed	9.05%	0.00%

Rates are subject to change with very little notice and certain conditions may apply to individual mortgage applications, QAC, E&OE

For the best rates call 1-866-993-8787.

Resources

Where Can You Find Me Now

I have been selected and recommended to the following Profesional Links: www.advisorslounge.ca, www.homesandlandbc.com, www.okanagannrg.ca.

Business Supporting Business — Thank You:

Investments
www.thenewwestside.ca

Doc's Golf and Ferrier Golf Academy in Penticton BC
Tel: 250-826-3627

Twice the Fun Games - Al Samson
1783 Ross Road on the Westside
Tel: (250) 769-4346
Fax: (250) 769-4347
www.TwiceTheFunGames.com

Rockworld - Natural and Manufactured Stone , Fireplaces & Stoves, Sales & Installations
Brent Copeland
PH: 250-769-7250

Private Home Sellers
www.privatehomesellers.ca

ROOMS BY ROSELYN
Painting and Design
Roselyn Anderson
PH: 250-469-0899
EMAIL: rosely_anderson@hotmail.com

BENSON SALLOUM WATTS
For residential legal call
Shaun Langin
PH: 250-861-5678
Email: slangin@BensonSalloumWatts.com

Leslie Marton, C-I-R REALTY
Calgary PH:403477-6996
EMAIL: lmarton@cirrealty.ca

Kieth R. Sutfin
OK Valley Home Inspections Ltd.
www.okvalleyinspector.ca
www.snowbirdsecurity.ca
Res/Office: (250) 769-2132 Cell: (250) 317-3349
Toll Free: 1-888-575-7784

Friends Supporting Friends — Thank You:

Krystal Beisick
www.krystalbeisick.com

For Investments check out — www.renascencedevelopments.com
Ask for Lisa Thomas lisa@renascencedevelopments.com

A Quote to Note:

I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
- Alan Greenspan

Also a member of the Okanagan Mortgage Lenders Association

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

www.yourmortgages.ca

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