31 May

New waterfront village on Barries’ Kempenfelt Bay.

General

Posted by: Anne Martin

New waterfront village on Barries’ Kempenfelt Bay has been announced called Harmony Village. Aimed at the growing number of seniors who want to make Barrie their home, it sounds like a great idea.  They will enjoy the spectacular views of the bay plus have all the amenities of living downtown Barrie.

Hopefully, this will mimic Allistons Green Briar and Briar Hill communities.

See below for more details.

http://ow.ly/bgMhT

25 May

Mortgage Market Update May 24, 2012

General

Posted by: Anne Martin

 

FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: May 24th, 2012  
Keeping you updated on Mortgage Matters

Market Comment
V39060: Government of Canada marketable bonds, average yield, 3-5 year
Low           1/06 /2012                                1.15

Average   1/02/2012- 05/22/2012          1.38           Piggy Bank

High           04/25/2012                              1.62 

 

A fairly uneventful week in the market.  

Bonds remained steady and as a result we did not see any movement on fixed rates.

Keep in mind we still have 2 lenders offering 10 year funds at 3.89%. A wonderful option for those concerned with future rates.  

 

If you have a variable rate of any more than prime +.75 or a fixed rate of 4.0% or more, we should explore the merits of refinancing to a lower rate.  

 

Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars. 

 

Bank prime is 3.00%


The next meeting of the Bank of Canada is on June 5, 2012.

 

P.S. If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.

 


….Anne

 

Ben Tal Summer Economic Buzz
The American consumer is starting to move in the right direction.Shopping Bags

First quarter US GDP was OK, but nothing to write home about. What’s important, however, is that the American consumer is starting to move in the right direction. Will the bruised American consumer regain its traditional role as the main engine of America’s economic growth? We think so. An array of indicators suggests that consumers will build on recent  momentum and will probably surprise the market with their  regained resiliency.

In Europe, both the UK and Spain are now officially in a recession and once again the market gets nervous. While the European Central Bank will take its time to intervene, there are already some communications from the Bank that it will be willing to reintroduce its lending program if needed. The likelihood is that this kind of merry-go-round will dominate the European markets in the coming months.


Bank of Canada might start raising rates before the end of the year.

In Canada, the government is giving Canada’s banking regulator-The Office of the Superintendent of Financial Institutions-new authority to oversee Canadian Mortgage and Housing Corporation (CMHC). The government is also putting a stop to banks using mortgages insured by CMHC as collateral on covered bonds. We view these two developments as marginally negative to the mortgage market.

It appears that the Bank of Canada is turning hawkish again suggesting that it might start raising rates before the end of the year. Note that exactly a year ago, we were in the same situation when the Bank hinted even more strongly that it will start raising rates, but had to change its mind due to the increased global macro economic uncertainty. At this point the likelihood of a move before the end of the year is about 50%-but even if the Bank starts moving, say in the 4th quarter, it will be a very slow and hesitant move.
 

Historical Interest Rate Graphs 

 
Below you will find a feature which will give you current interest rate trends.interest rate graph It can also be accessed on our web site. I hope you and your clients find it useful..

 
 

Our Commitment to You

  • Constant update of Market Conditions
  • Innovative Mortgage Products
  • Value Added Services
  • Unbiased Advice
  • Innovative Mortgage Strategies and NOT just Order Taking
In This Issue
Market Comment
Benjamin Tal Economic Buzz Spring 2012…
Interest Rate Graphs
Quick Links

Anne Martin
 Anne Martin
Mortgage Agent
FSCO Lic. M10002257  
Neighbourhood Dominion
Lending Centres
FSCO Lic. 11764

39 Collier Street,
Suite 300
Barrie, ON  L4M 1G5

P: 705.720.1001 x225 or 1.888.500.1841
Direct: 705-791.6683
Fax: 705.739.1893 or 1.866.739.1893

Email
Visit My Website

Like me on Facebook  
 
This email was sent to anne@barriemortgagelocators.com by anne@barriemortgagelocators.com |  
Head Office; Neighbourhood Dominion Lending Centres | FSCO 11764 | Independently Owned and Operated | 1140 Stellar Drive | Newmarket | Ontario | L3Y 7B7 | Canada

23 May

Proposed Changes to Mortgage Rules

General

Posted by: Anne Martin

Banking regulator (OSFI) is PROPOSING substantial changes to mortgage rules in Ontario.  Among them would be re-qualification for borrowers at renewal time.  If you’ve had a substantial change or there is a substantial change in rates, etc. you may not qualify to renew with your existing financial institution even if you have kept your obligations. See the following Globe and Mail article for more details.

11 May

Mortgage Market Update May 10, 2012

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: May 10th, 2012  
Keeping you updated on Mortgage Matters

Market Comment
strategy

V39060: Government of Canada marketable bonds, average yield, 3-5 year Low           1/31/2012                                 1.15

Average   1/02/2012- 05/08/2012           1.38         

High           04/25/2012                               1.62 

 

With instability of the current European elections, we have seen the bond rate drop slightly. With so much European uncertainty there is potential to see the bond rate stay in this lower range.
The low bond rate creates our low interest market.  
Keep in mind we still have 2 lenders offering 10 year funds at 3.89%. A wonderful option for those concerned with future rates

 

If you have a variable rate of any more than prime +.75 or a fixed rate of 4.0% or more, we should explore the merits of refinancing to a lower rate. 

 

Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars.

 

Bank prime is 3.00%

The next meeting of the Bank of Canada is on June 5, 2012.

 

P.S. If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.
….Anne
 

Should you pay off your mortgage before you retire?

Linda Stern, Reuters Financial Post May 2, 2012 – 5:12 PM ET | Last Updated: May 7, 2012 12:28 PM ET

House for SalePay off the house before you retire. That’s the conventional wisdom, and there’s some evidence that people are following it.
Older families aggressively rid themselves of mortgages between 2007 and 2009, according to U.S. Federal Reserve data. Some 45.5% of American households headed by people between 65 and 74 had mortgages in 2007; by 2009, only 41.6% of the same households held home loans. Only 15.1% of households headed by people over 75 (in 2007) still had mortgages in 2009.
That data is complex and could cover a lot of different situations: mortgages being paid down as people age, borrowers losing homes during the U.S. housing crisis, and more. But it does point to a disinclination by retirement-age people to hold mortgages.
The question is: Are they – and the conventional wisdom – right? The answer: Maybe not.
With mortgage rates still skirting historic lows, the “pay-it-off-before-retirement” argument may be less compelling. It may even make more sense to keep that mortgage as long as you possibly can.

 

Click here to read full article

 

 

Historical Interest Rate Graphs 

 
Below you will find a feature which will give you current interest rate trends.interest rate graph It can also be accessed on our web site. I hope you and your clients find it useful..

 
 
Our Commitment to You

  • Constant update of Market Conditions
  • Innovative Mortgage Products
  • Value Added Services
  • Unbiased Advice
  • Innovative Mortgage Strategies and NOT just Order Taking
In This Issue
Market Comment
Should you pay off your mortgage before you retire?
Interest Rate Graphs
Quick Links

Anne Martin
Anne Martin Mortgage Agent FSCO Lic. M10002257 
Neighbourhood Dominion
Lending Centres
FSCO Lic. 11764

39 Collier Street, Suite 300 Barrie, ON  L4M 1G5

P: 705.720.1001 x225 or 1.888.500.1841 Direct: 705-791.6683 Fax: 705.739.1893 or 1.866.739.1893

Email Visit My Website

Like me on Facebook  
 
This email was sent to natalia@ndlc.ca by anne@barriemortgagelocators.com |  
Head Office; Neighbourhood Dominion Lending Centres | FSCO 11764 | Independently Owned and Operated | 1140 Stellar Drive | Newmarket | Ontario | L3Y 7B7 | Canada

4 May

Mortgage Market Update – April 4, 2012

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: May 3rd, 2012  
Keeping you updated on Mortgage Matters

Market Comment
Money Clock

V39060: Government of Canada marketable bonds, average yield, 3-5 year Low           1/31/2012                                 1.15

Average   1/02/2012- 05/01/2012          1.37        

High           04/25/2012                              1.62

 

The past week has been uneventful in terms of interest rate movement. The bonds remained fairly steady with last Wednesday still being the high for 2012.
Keep in mind we still have 2 lenders offering 10 year funds at 3.89%. A wonderful option for those concerned with future rates. 

 

If you have a variable rate of any more than prime +.75 or a fixed rate of 4.0% or more, we should explore the merits of refinancing to a lower rate. 

 

Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars.

 

Bank prime is 3.00%

The next meeting of the Bank of Canada is on June 5, 2012.

 

P.S. If you, your family, or co-workers require guidance on current market trends, please call us, we are always available to help.
….Anne
 

Buying a house? Don’t go to the bank

Lesley Scorgie Metro Canada News April 24, 2012

I sold my property last week and I’m in a mad scramble to find a new home. With my wish list in hand and a pre-approved mortgage under my belt, I’m confident I’ll eventually find what I’m looking for.

 

Much to the chagrin of my financial planner, a bank employee, I’ve decided to use an independent mortgage broker rather than getting my mortgage from the bank. Based on my research, mortgage brokers often have access to better rates and more flexible repayment terms.

 

Mike, my broker and an old pal from university, walked me through the pre-approved application process and reviewed my commitments to the bank where my existing mortgage resides. He then shopped my application around to multiple vendors and came back less than 24 hours later with a rock-bottom rate. 

 

An independent mortgage broker isn’t tied to any financial institution and instead works on your behalf, rather than the lender. 

 

Because they are not employees of a lending institution, mortgage brokers are not limited in the products they can offer you.

 

They can seek out the best mortgage options to suit your specific situation, from a multitude of lenders – banks, trusts, private companies and insurance firms. Their primary role is to provide unbiased mortgage options and advice to clients.

 

Click here to read full article

 

 

Historical Interest Rate Graphs 

 
Below you will find a feature which will give you current interest rate trends.interest rate graph It can also be accessed on our web site. I hope you and your clients find it useful..

 
 
Our Commitment to You

  • Constant update of Market Conditions
  • Innovative Mortgage Products
  • Value Added Services
  • Unbiased Advice
  • Innovative Mortgage Strategies and NOT just Order Taking
In This Issue
Market Comment
Buying a house? Don’t go to the bank…
Interest Rate Graphs
Quick Links

Anne Martin
Anne Martin Mortgage Agent FSCO Lic. M10002257 
Neighbourhood Dominion
Lending Centres
FSCO Lic. 11764

39 Collier Street, Suite 300 Barrie, ON  L4M 1G5

P: 705.720.1001 x225 or 1.888.500.1841 Direct: 705-791.6683 Fax: 705.739.1893 or 1.866.739.1893

Email Visit My Website

Like me on Facebook  
 
This email was sent to anne@barriemortgagelocators.com by anne@barriemortgagelocators.com |  
Head Office; Neighbourhood Dominion Lending Centres | FSCO 11764 | Independently Owned and Operated | 1140 Stellar Drive | Newmarket | Ontario | L3Y 7B7 | Canada