PERSONAL. PROFESSIONAL. PASSIONATE.

February 1, 2010

MCAP - IMPORTANT CHANGES

MCAP is happy to announce the removal of the Sales Only Clause!!!

As always we are committed to moving forward with your needs in mind. January 21st MCAP confirmed the removal of the Sales Only  Clause.

What does this mean to you?

Based on the announcement dated January 21st, MCAP will no longer have a Sales Only clause attached to our regular fixed rate and variable rate mortgages funded after the announcement date.

We have removed from our commitment letters and our various Standard Charge Terms across Canada.

OPTIONS for MCAP mortgages currently subject to the Sales Only clause:

Please note this information applies to ONLY mortgages funded from MARCH 31, 2008 to JANUARY 25, 2010

As always, MCAP will continue to offer rate blends, term extensions, porting and assumption options that will satisfy most re-financing needs. In the event that a borrower wishes to pursue any of these options, MCAP must be given the first right to satisfy their changing borrowing needs.


Best Calgary
Mortgage Rates

Term Rate (%)
as of Mar 9, 2010

Mortgage News

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.

The ongoing global economic recovery is being driven largely by strong domestic demand growth in many emerging-market economies and supported in advanced economies by exceptional monetary and fiscal stimulus, as well as extraordinary measures taken to support financial systems.

Read More
A ‘reverse mortgage’ is a new way of borrowing money for people 60 or older and own a home or condo to qualify for a reverse  mortgage in Canada. The flexibility of never having to make monthly payments is why reverse mortgages are such an attractive option for thousands of Canadian homeowners. Read More

Calgary Mortgage Associate/Calgary Mortgage Broker/Calgary Mortgage Agent/Calgary Mortgage Rates
Copyright John Inaba/VERICO MyMortgage.ca Inc./ MyMortgage.ca / All Rights Reserved, Disclaimer, Privacy Policy

.