Hamilton, ON

Many Canadian banks are scheduled to begin reporting their 3rd quarter results, starting on Nov. 25 with Bank of Montreal.

Some analysts are expecting Canada's six big banks to report an average profit decline of 15 percent for Q3, the biggest drop in 6 years.

The Bank of Canada, the country's central bank, stated on Oct.23 that the Canadian economy, the world's 8th-largest economy, will slow to 0.6 percent this year, the lowest since 1991.

With the country suffering from weak demand in the US and lower prices for commodities, we will soon have the Q3 results from the Big Six Banks... and it will be interesting to see if they provide any indication of how they project their results will be like in the months to come. One thing can be expected however... if banks continue to report poor results, they may consider holding onto a portion of any future rate cuts in the near term from the Bank of Canada by not adjusting their prime lending rates by the same amount.

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Gina Burgio, Mortgage Agent
VERICO Designer Mortgages Inc.
Toll Free: 1-877-345-6265
Fax: 1-877-345-6256
Email: gina@ginaburgio.com
www.ginaburgio.com

Each VERICO Broker is an independent owner operator.

This one comes from my good friend Jim at the City of Hamilton:

"I have fact checked this and it is a valid warning. Not a hoax. JR The Government of Canada has issued a warning not to consume Pirate's Gold Milk Chocolate Coins that

have been sold in Canada at Costco, (the candy may also be available in smaller quantities at dollar stores

and bulk stores). The candy has tested positive for melamine. Please pass on this important information

to everyone you know that have children going out for Hallowe'en. For additional details, please consult

the following link: http://news.gc.ca/web/view/en/index.jsp?articleid=421359 ."

Our Mortgage Rates.

Gina Burgio, Mortgage Agent
VERICO Designer Mortgages Inc.
Toll Free: 1-877-345-6265
Fax: 1-877-345-6256
Email: gina@ginaburgio.com
www.ginaburgio.com

Each VERICO Broker is an independent owner operator.

Thousands of people rushed to register their numbers on the Do-Not-Call List caused the website servers to crash. The CRTC has since announced that they are increasing capacity/bandwidth to their website.

The CRTC has also said that by 1:30pm on Tuesday, 223,000 people has registered for the service. More than one million people tried to access their telephone hotline to register. Their site and hotline were activated at 12:01am on Tuesday.

Though the service was launched Tuesday, it won't take effect until 31 days after a person has registered.

Mortgage rates with various financial institutions are expected to rise today in Canada, as a reaction to recent events in the USA.

Some financial institutions are still permitting clients to lock in rates (prior to rate increase taking affect) before the end of day. Contact your mortgage advisor for further details.

Gina Burgio, Mortgage Agent

VERICO Designer Mortgages Inc.

Toll Free: 1-877-34-LOAN-5

Fax: 1-877-345-6256

Email: gina.burgio@verico.ca