Financial Update

Toronto stocks sideswiped by falling commodities

· TSX fell after a roller coaster session -85.57

· Dow -100.97 as investors worried that the financial sector is still suffering badly from the credit crisis, received another indication the long string of interest rate cuts is over, while General Motors Corp. announced the closure of its pickup truck plant in Oshawa, Ont., and three other factories.

· Dollar slipped slipped further -.73c to $99.15

· Oil -3.45 to $124.31US per barrel

· Gold -11.30US to $881.60US

Bond Rates: http://www.bankofcanada.ca/en/rates/bonds.html <http://www.bankofcanada.ca/en/rates/bonds.html>


To some originators the gloomy economic articles in the press may just be part of the daily Financial Update, while to others, it may be part of your communities reality and you may have clients who are experiencing financial difficulties.

If they have a Merix high ratio mortgage, it’s been insured by Genworth Financial and Genworth Financial has a helpful
Homeowner Assistance Program

Financial difficulties can hit at any time and can be due to a variety of causes. For example, a downturn in the economy, loss of a job, a marriage breakup, a serious illness or accident, death of a wage earner in your household, or a significant increase in mortgage interest rates at renewal time, etc.

To learn more about the program, go to . http://www.genworth.ca/mi/eng/home_ownership/homeownerassistance.html