Growing Quote of the Day: “Disneyland will never be completed. It will continue to grow as long as there is imagination left in the world.” – Walt Disney

These guys are learning from us, ay? Canada’s housing market is hot right now – much like ours was in 2006. Trying to prevent a bubble from bursting, Finance Minister Jim Flaherty is making mortgages harder to get. In Canada you’re putting down a minimum of 20% to buy a home, 30-year mortgages have been eliminated (25 years is max), and government-backed mortgage insurance will no longer be available for homes with purchase prices over $1 million. Flaherty has complained in the past about people using their homes as ATM machines. Sounds familiar, right?

Also, it should be noted that the first joke I ever wrote was a Canadian joke, and back in the 5th grade I thought it was genius because the punch line was in the question: “What’s the first letter of the alphabet, ay?” This is reason #142 why I’m writing mortgages instead of doing standup comedy.

Rates are still beautiful, Mortgage Fans! 30-yr fixed remains in the mid-to-upper 3s with ARM rates about a point lower. Don’t forget to let everyone know that for any purchase or refinance loan over $240k I will eat all lender fees – a $1,200 savings.

Growing Quote of the Day 2:“Look at you all grown up and back living with mom. How good do you feel about yourself on a scale from one to…two?” – Charlie (Charlie Sheen), Two and a Half Men (2007).

Timeout for Trivia: Congrats to those of you who guessed John Cusack two weeks ago. Want to be entered into a drawing to win a package of 100 balloons? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “One of my highest grossing movies opened on this day in 1994 starring a brilliant actor (if you’re my parents’ age you’ll remember him from acting with James Dean in Rebel Without a Cause). I didn’t win an Academy Award for that one but I did win one for Best Actress in 2009 even though I am not blind. Maybe I was blind in my marriage from 2005-2010 to a cheating outlaw.”


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