Lindsay goes long or short RBC has got you covered!

Having been though now 4 business cycles I know now the importance of these four precious words. "This too will pass."

The economy will pick up, buyers and sellers will come to the table and all this uncertainty will become very clear.

To help you inspire your clients RBC has announced two price offerings

A one year closed rate at 4.35% A four year closed rate at 4.89% There is no expiry on these rates as with RBC when we launch a product we tend to keep pricing in place for a reasonable time.

We also offer a preferred pricing on our variable closed at 4.6% and 4.85% open variable mortgages. We have also announced effective December 10th (Wednesday) our prime lending rate will drop from 4% to 3.5%, marking the lowest rate in the prime since before most of most of us were even born!

http://www.cbc.ca/money/story/2008/12/09/bankofcanada.html?ref=rss

Remember as I keep saying to you in times of uncertainty it is of the upmost importance to align your business and your clients with a company who clearly thrives in all markets.

RBC is showing not only Canada but the world that providing expert financial advise will always earn us the right to be our client's number one choice.

Here is what our Minister of Finance Mark Carney had to say in late September, right after the fallout of the US sub prime market.

The Canadian financial system does not need to reduce leverage, we are not immune from the fallout from this process elsewhere. Canadian institutions are in considerably better shape than their international peers. Their losses on structured products have been relatively modest. More importantly, their absolute leverage is markedly lower. As a simple illustration, major Canadian banks have an average asset-to-capital multiple of 18. The comparable figure for U.S. investment banks is over 25, for European banks is in the 30s, and for some major global banks is over 40. While foreign banks are in the process of moving towards Canadian levels, our banks obviously face no such pressures. Indeed, Canadian banks could modestly increase leverage by growing their lending relative to their current capital base.

This flexibility gives our economy a rare advantage. Reflecting better domestic credit conditions, there are few signs that Canadian financial institutions are restricting the availability of credit to households. In fact, such growth has remained surprisingly robust to date. While growth in Canadian business credit has slowed in recent quarters to rates around historical norms, there is no evidence at this point that our corporations are facing unusual credit restrictions. That said, especially in light of the intensified global financial strains, we will continue to watch closely the evolution of credit availability in Canada, through analysis of monetary and credit aggregates, industry visits, and surveys.

Folks it up to us to spread this message to our clients. If we ourselves allow the CNN newscasts and negative images to project into our own businesses we doing our clients and ourselves a dis-service.

Just remember if we look back to all the recorded world crises over the past 100 years how within 6 months of recovery the financial markets averaged a growth rate of 20%!
Yes, 2009 may prove to be a challenge but by working smarter and together each of us will meet and exceed our goals

Guest Contribution; Lindsay Doke Royal Bank Trusted Mortgage Advisor
email: lindsay.doke@rbc.com http://mortgages.rbcroyalbank.com/lindsay.doke

David Pylyp; There are some great opportunies out there, I still cannot believe the Multi offer property in Bloor West Village.