FOR A MOTHER

A mother casts her dreams into the sea;
We, the words sent bobbing towards the sun,
The eggs of stone, the shards of prophesy.

Because she must conclude her melody
And fall back to the sweet dark hush of One,
A mother casts her dreams into the sea,

Hoping to cross that wild infinity
And on some infant shore again to run,
The eggs of stone, the shards of prophesy

Outside the fiery circle of memory,
The howling surf, the incessant years undone...
A mother casts her dreams into the sea

And then dissolves into a tapestry,
Her rolling, helpless drift again begun,
The eggs of stone, the shards of prophesy

Afloat once more upon eternity,
Once more the alien fury, never done...
Again, again, her dreams into the sea,
The eggs of stone, the shards of prophesy!

MORTGAGE RENEWALS TO COME!

Wow it sure seems where we talk about money we talk about the Government and it's changes. I have a unique outlook to the changes. If we study the changes and ask "why" you will source the answers. I look at what the Government is doing buy having Mortgage Holders qualify at a higher rate then what they are being offered in the mortgage terms. If you look at it closely... they are planning for the future. No kidding, look at 2002 to 2007... those were big housing pushes, right. So this being the start of the renewal periods and so worth from September 2010 until September 2015. The Government is making sure that those clients that went into mortgage then, can qualify in todays higher market. That all being said, credit conditions, financing planning and values are key to your renewal. At least 6 months before your mortgage is due you should be calling me. I can help you plan and correct any issues you might have on your credit. There are so many elements now that may cost you your "Best Rate" or the lender will charge you a fee? Take it seriously, as your home is the biggest tool you have.

Call me or email me for more information.

Your Mortgage Broker, Steven Faux

Canadian banks raise rates as finance costs rise

Royal Bank of Canada raised mortgage rates for the second time in two weeks, setting the stage for another wave of hikes by major banks as they grapple with higher financing costs.

"This is just the beginning," said Canadian Imperial Bank of Commerce economist Benjamin Tal. "There is no reason to believe that this will stop at this point." Indeed, by late Tuesday Bank of Nova Scotia had already followed suit, matching RBC's 25 basis point hike on fixed-rate mortgages. Bankers at rival institutions were weighing their options.

RBC kicked off the increases in March when it increased the price of fixed-rate five-year mortgages by 0.60 percentage points to 5.85 per cent; many rivals followed suit. Following Tuesday's move, RBC and Scotiabank's posted rates will be 6.10 per cent.

Executives are balancing their desire for market share with their need to pad profit margins. For instance, most banks increased their rates two weeks ago after RBC did so. Bank of Montreal, which has lost market share in the mortgage market and wants to win it back, has been heavily promoting a special five-year rate for customers who sign up for mortgages with a term of 25 years or less. Other banks also have special rates.

But even BMO's rates are poised to increase. Though the bank didn't boost its five-year rate Tuesday, it will soon. "We wanted to give consumers an opportunity over the next few days to come in and get pre-approved and locked in at 3.95 per cent," said Jane Yuen, senior manager at BMO.

Click here to read more...

Canadian firms expect gradual recovery

OTTAWA - The Bank of Canada's spring survey of businesses is providing further evidence that the economic recovery is taking hold, but that key decision-makers expect improvements will be gradual rather than robust.

Canadian firms are saying they expect sales to increase modestly over the next year. They also plan to hire more workers and invest more on new equipment and machinery.

But most also report that they are operating below their capacity and expect to do so for at least the next six months.

"Firms expect a modest increase in sales volumes following declines over the past year," the central bank said today.

"Firms reported that sales expectations are supported by the U.S. general economic recovery, an improving near-term U.S. economic outlook, and, in a growing number of cases, their own initiatives to reposition themselves for growth."

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Pain in Australia is a peek at what's to come

For a glimpse of what the future may feel like in the Great White North, look Down Under.

Faced with a jumping housing market, a steadily improving job market and a commodity boom, all of which sound familiar to Canadians, Australian central bank chief Glenn Stevens is cranking up interest rates hard and fast.

The goal is to unwind emergency cuts and return borrowing costs to the historical average, and fast. Last week Mr. Stevens tightened again, his fifth quarter point move in seven months, leaving home builders furious and retailers begging for mercy because customers are disappearing.

The rapid rate increases have made the Australian central bank chief a controversial figure in a world where most central banks have been standing pat. He is a hero to many who believe that other bankers are leaving rates too low too long and courting inflation. Doubters believe he risks overdoing it and the Australian economy will suffer.

With Bank of Canada Governor Mark Carney widely expected to embark on a path to higher interest rates in coming months, Mr. Stevens' actions and their consequences are a reminder to Canadians who haven't had to deal with rising rates in four years just what it feels like. In short, it hurts.

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Consumer credit experts call on homebuyers to exercise caution

TORONTO - Potential homebuyers spurred into action by fears of an imminent interest rate hike may be better off to wait and avoid bidding wars that can prove even more costly, according to consumer credit experts.

Laurie Campbell, executive director of Credit Counselling Canada, says Canadians already feeling societal pressure to be homeowners are more likely to engage in bidding wars and overspend when they hear that their ability to fulfil that "North American dream" could soon erode.

"We're not only enticed by agents and those who market mortgages and the whole concept but... society as a whole," she said.

The hot housing market is being driven, in part, by an influx of consumers willing to pay a premium for home ownership before interest rates rise.

Click here to read more...

THANK YOU FOR YOUR BUSINESS

I would like to take this moment and thank the Real Estate Professionals for their business support: Christopher Blake, Shirlee Ross, Wayne Ross and Kathy York.

I would like to thank the following clients for their business: David Narang, Adam Day, Dennis and Lori Isaac, Sarath Desilva.

Your business and the referrals you provide are greatly appreciated.

Expect the best borrowing solutions from Steven Faux

Weekly Market Commentary

TSX edges 0.2% lower on week, gold producers shine

Canada's resource-heavy S&P/TSX Composite index slipped 0.2% over the week ended April 30, 2010 as week-ending profit-taking drove the benchmark slightly into the red.

Gold producers were one of the TSX's few bright spots on the week as the precious metal's ascent to its highest level since December drove the benchmark's Materials sector 3.4% higher on the week.

The Utilities, Consumer Staples and Financials sectors hampered the broader benchmark, falling 3.1%, 2.2%, and 1.7%, respectively, on the week... 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 1.75% 2.50%
6 Month Closed 4.60% 6.65%
1 Year Closed 2.65% 4.05%
2 Year Closed 3.30% 4.35%
3 Year Closed 3.85% 4.90%
4 Year Closed 4.29% 5.73%
5 Year Closed 4.39% 6.25%
7 Year Closed 4.95% 7.00%
10 Year Closed 5.35% 7.35%
15 Year Closed 8.99% 0.00%
18 Year Closed 8.99% 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

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

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

Private Home Sellers
www.privatehomesellers.ca

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

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:

"A best friend is like a four leaf clover: hard to find and lucky to have."
- Author Unknown

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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