Archives: May, 2010

Greater Sudbury…Some Statistics

Greater Sudbury is the 10th largest city in Ontario.  Here are some quick facts on it. Established 1893 (Sudbury) and then 2001 (Greater Sudbury) Population in 2006 157,857 Population in 2001 155,219 Population Growth of 1.7%. Total Private Dwellings 69,430 Population Density Per Square Kilometre is 49.3 Land Area of 3,200.56 Square Kilometres Located on […]

Bank of Canada Expected to Increase Rates to Deal with Rapid Inflation

The Canadian economy soared in April.  Retail sales during April increased by 2.1 percent within Canada.  This is the fourth straight month where retail sales increased.  Without a doubt, consumer spending within Canada is booming and shows no signs of slowing down.  As a result inflation has also increased.  Inflation increased by 1.8 percent during […]

Mortgage Products Explained

There are many different mortgage products out there.  Here is a simple list of them with a brief explanation. Home Purchase Mortgages Buying a home in Northern Ontario?  SudburyMortgageBrokers.com will get you a pre-approval or an approval for your home purchase.  We get you the right mortgage product and the best rate in the market.  […]

The Current and Future Status of Variable Rate Mortgages

It is no secret that fixed mortgage rates have been on the rise.  Less than a month ago, the Bank of Canada’s posted conventional 5-year mortgage rate was 5.25%.  It is now 6.10% and is likely heading upwards.  But what about variable mortgage rates?  Have they increased as well?  No, they have not.  Prime Rate […]