05-Sep-10
Variable 6/13 Prime minus .70% 2.05%
1 year closed 2.40%
2 year closed 2.90%
3 year closed 3.54%
3 year variable insured 2.15%
4 year closed 3.89%
5 year closed 3.69%
5 year variable Prime - .65% 2.10%
7 year closed 4.85%
10 year closed 5.19%
BENCHMARK RATE 5.39%
Andre Glockl - Mortgage Broker

Prime Rate: 2.75 %
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FOR IMMEDIATE RELEASE
22 March 2009
The 2009 Federal Budget introduced the following changes affecting Retirement Savings Plans (RSP):


The 2009 Federal Budget introduced the following changes affecting Retirement Savings Plans (RSP):
• The Home Buyers’ Plan (HBP) maximum withdrawal limit has been increased to $25,000 from $20,000 for withdrawals made after January 27, 2009.
ADDITIONAL INFORMATION
How much can I withdraw from my RRSP under the HBP?
For withdrawals made after January 27, 2009, the maximum amount that you can withdraw from your RRSP to purchase or build a qualifying home without having to pay tax on the withdrawal is $25,000.

If I withdrew $20,000 from my RRSP under the HBP after December 31, 2008, but on or before January 27, 2009, can I withdraw an additional $5,000 from my RRSP?
Yes, you can withdraw additional funds, as long as the total of all your withdrawals does not exceed the new maximum amount of $25,000. However, under existing requirements, neither you nor your spouse or common-law partner can own the qualifying home for more than 30 days before making the final withdrawal.





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