24 Jun

June 2012 Newsletter


Posted by: Anne Martin

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Anne Martin, AMP
Anne Martin AMP, Mortgage Agent FSCO  M10002257
Neighbourhood Dominion Lending Centres FSCO Lic. 11764
39 Collier Street Ste. 300 Barrie ON  L4M 1G5
Direct: 705.791.6683 P: 705.720.1001 or 1.888.500.184
F: 705.739.1893 or 1.866.739.1893
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Summer Water Conservation Tips:


As a general rule your lawn only needs 2-3 cm of water per week. To cut down your water usage even further, try to use low angle or pulsating sprinklers that produce large droplets of water opposed to a fine mist that will evaporate quicker. Routinely check your irrigation systems for leaks and fit your hose with an automatic shut-off nozzle to ensure water is not wasted when left unattended. Invest in a rain barrel to collect rain water. Be sure to find one with a spigot and suitable cover to protect from contamination and evaporation. Water collected in your rain barrel is actually better for your garden because it doesn’t contain chlorine contaminants and is at ambient temperature. Not only will these tips help protect our environment, but it will help to water down your bills as well. Click here to check how your household measures up with Environment Canada’s Water Use Calculator.



Find out how a simple “mortgage check-up” can help you. A single call may be all the care you need.

It’s important to protect yourself against market conditions. But how do you know you have the right mortgage if you haven’t seen what’s possible?
Health2Simply call us today for a “mortgage check-up” and you’ll be better prepared. 705.720.1001 or 1.888.500.1841



By any measure – health, education, housing or income – Canadians are far better off than residents of the developing world. But they’re also better off than many of the planet’s richest countries, according to the Organization for Economic Co-operation and Development’s latest quality-of-life assessment, released last month. In a comparison of 11 well being indicators in 36 countries, Canada placed sixth, behind top-ranking Australia and third-place US. Norway, Sweden and Denmark also finished ahead of Canada. Click here for the full Globe and Mail article.

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June 2012
Hi Everyone, welcome to our June Newsletter …

This month’s edition shows that Canadians are comfortable with their mortgages, as well as offers some money- and time-saving renovation tips. Please let me know if you have any questions or feedback regarding anything outlined below.


Thank you for your referrals and continued support.

….Anne Martin



Canadians Comforable with their Mortgages

Canadian homeowners are comfortable with their current mortgage, focusing on reducing their mortgage faster by making lump sum payments, reducing amortization periods and refinancing with lower interest rates, according to the Canadian Association of Accredited Mortgage Professional’s (CAAMP) most recent survey report released May 30th – Confidence in the Canadian Mortgage Market.
Following are just a few key highlights from the report:

  • 74% of mortgage borrowers who renewed in the last year saw their new interest rate decrease. On average, the interest rate was reduced by one-half percentage point
  • Borrowers are making significant efforts to accelerate mortgage repayment, such as voluntarily increasing their regular payments (23%) and making lump sum payments (19%), with some borrowers (10%) doing both
  • Approximately 50% of borrowers pay $100 per month (or more) above their required payments
  • Recent buyers indicate that their expected amortization period will be about 20% shorter than their contracted length
  • Mortgage brokers account for 26% of all mortgages. For borrowers who took out a new mortgage in 2011, 31% obtained it from a mortgage broker
  • 83% of Canadians have at least 25% equity in their home
  • “Despite daily warnings in the media about mortgage indebtedness – or maybe because of them – Canadians are making responsible decisions about their mortgages and they’re exhibiting confidence in their own situations,” said Jim Murphy, AMP, President and CEO of CAAMP. “We should feel encouraged by this behaviour – it means Canadians are well positioned to weather a potential rise in interest rates”

As always, if you have any questions about the best mortgage product and rate options for you, or about your mortgage in general, I am here to help!



Money-Saving   Renovation Tips Everyone has a different reason for wanting to renovate their home. You may be looking to make a change in the way your home looks or feels, or you may want to fix a maintenance issue or make your home more comfortable or energy efficient. Whatever your reason, undertaking a renovation involves a number of important decisions.
To help you make more informed decisions, Canada Mortgage and Housing Corporation (CMHC) offers a number of tips, tools and resources like the Before you Renovate: Renovation Guide. Consulting these resources before you begin can help you save time, money and a lot of frustration – resulting in a better overall renovation experience.
First, always take the time to thoroughly plan your renovation before you pick up a hammer (or the phone). Mistakes on paper are much easier and less expensive to fix than mistakes on the job. Taking the time upfront to identify your priorities and how you want to achieve them can save you a great deal of expense (and more than a few headaches) further down the road.
Next, decide whether your planned renovation is practical. For instance, that addition may look great, but can your home’s systems handle the additional heating, lighting and plumbing requirements? Learn to draw the line between what would be nice and what’s really essential, and consider hiring a qualified professional early in the process to help guide you toward what’s practical for your home.
It’s also a good idea to think about the long-term impact of your renovations. For example, renovations that make your home more energy efficient could pay for themselves through years of lower monthly utility bills. In addition, think about your family’s future needs by making sure your design is flexible enough to adapt to changes as time goes by.
To avoid going over budget, have a clear idea in advance of how much your renovation will cost. CMHC’s Household Budget Calculator is designed to help you understand what you can afford. Get written estimates from at least two reputable local renovators, architectural firms or materials suppliers and, if they ask for a deposit, make sure it’s a nominal amount and request a signed receipt.
If you need help financing your renovation project, it may be beneficial to refinance your mortgage at today’s great low rates! And if the renovation will make your home more energy efficient you may even qualify for financial assistance. Answers to your questions are just a phone call or email away!

17 ways to landscape on the cheap

It’s ealandscapingsy to spend thousands cultivating an idyllic lawn and garden. But a little ingenuity and patience will go a long way to keeping some green in your wallet, as well.

Traditional thinking says you should expect to pay anywhere from 5% to 15% of your home’s value on landscaping. Even at the low end of that range, you’re looking at spending $10,500 if you live in the median-value American home worth $213,000.


That’s tough to stomach no matter how much you love the outdoors. Thankfully, you can do it right and still spend a fraction of that amount. Here’s how.


Get the most visual bang for your buck: First of all, realize that budget gardening can still be beautiful. Let’s say you’ve got less than $1,000 to spend. The first things you should focus on are improving your soil and adding trees, recommends Joanie Clarke, a design consultant for Classic Nursery and Landscape Co. in Redmond, Wash. “You can spend $500 on plants, but they’re not going to grow in clay or sand,” she says. Clarke advises amending your soil with compost and other ingredients to improve its quality. Buying soil, in comparison, can cost as much as $27 a yard plus delivery.


Take advantage of freebies

  • Your city, your friend:Cities often give away free trees, mulch and compost. In Seattle, for example, groups of neighbors can request 10-40 trees from the city in exchange for planting and maintaining them.
  • Demolition sites:These are great sources for bricks and stones, but make sure you have permission to remove them.
  • Fellow gardeners: See something you like in a neighbor’s yard? Offer to trade cuttings. Also, set up seed exchanges with other gardeners or check out existing exchanges online such as those on iVillage’s GardenWeb and GardenHere.com.

Avoid costly mistakes:Really think about how you’re going to use your outdoor space. If you plan a water feature but are annoyed by the noise of babbling brooks, you’re going to spend more money ripping it out and replacing it with something else later.  Take the time to educate yourself and you’ll avoid common pitfalls such as planting a tree too close to your house.


Click here to read the full article By Ann Archer of MSN Real Estate


This email was sent to natalia@ndlc.ca by anne@barriemortgagelocators.com |  
Neighbourhood Dominion Lending Centres | FSCO Lic. 11764 | Independently Owned & Operated | 1140 Stellar Drive | Newmarket | Ontario | L3Y 7B7 | Phone: 905.715.7086 | Canada

21 Jun

Federal Government Makes Major Changes to Mortgage Rules effective July 9, 2012


Posted by: Anne Martin

NDLC News Watch 2
June 21st, 2012
Ottawa tightening mortgage rules; no more 30-year amortizations


OTTAWA AND TORONTO – The Globe and Mail

Published Wednesday, Jun. 20 2012, 9:25 PM EDT

Last updated Thursday, Jun. 21, 2012,7:53 AM EDT


The federal government is moving again to tighten the rules on mortgage lending in Canada amid growing concerns that the housing market is overheated and household debt levels are climbing to perilous levels.


The country’s biggest banks were caught off guard on Wednesday night as the Department of Finance prepared to clamp down on mortgages by reducing the maximum amortization for a government-insured mortgage to 25 years from 30.


Ottawa will also limit the amount of equity that can be borrowed against a home to 80 per cent of the property’s value, down from 85 per cent.


The moves are designed to cool the housing market and limit the record levels of personal debt Canadians have amassed in recent years. Figures from Statistics Canada show the average ratio of debt-to-disposable income climbed to 152 per cent, up from 150.6 per cent at the end of 2011. A rise in interest rates or further job losses could put some households at financial risk, endangering any economic recovery.


The Bank of Canada is expected to keep interest rates low for some time because the economy shows little sign of a strong recovery, so tightening mortgage rules is one way to ensure Canadians don’t get in over their heads during a prolonged period of ultra-low interest rates.


Reducing the maximum amortization on government-backed mortgages will eliminate the 30-year mortgage for most borrowers in Canada. The changes, which are expected to be unveiled at a news conference in Ottawa on Thursday morning, will translate into higher monthly payments, but result in the loan being paid off sooner.


Ottawa will announce two other changes, according to a source. It will no longer allow high-ratio mortgages over $1-million, and it will cap the gross debt service (which looks at a consumer’s total debt payments as a percentage of their income) at 39 per cent. While many banks tend not to allow mortgages over 40 per cent, there had been no official rule in place.


It is the fourth time in four years that Ottawa has moved to cool the housing market by tightening mortgage rules. In early 2011, Finance Minister Jim Flaherty reduced maximum insured amortizations to 30 years, and limited borrowing to 85 per cent of the property value.


CIBC economist Benjamin Tal described the changes as a “gentle push,” since the government didn’t make alterations to the minimum downpayment required on mortgages, which stands at 5 per cent.


“The fact that they didn’t change downpayments is a realization that doing so would probably be too severe given that the market is slowing down,” he said.


However, there remain concerns the changes could cause too abrupt a shift in the market. “All of these things might precipitate the housing market downturn that the government wants to avoid,” Jim Murphy, CEO of the Canadian Association of Accredited Mortgage Professionals, said in an interview.


With a report from Boyd Erman

Click here to read full article


Anne Martin, AMP
Anne Martin

Mortgage Agent | FSCO M10002257
Neighbourhood Dominion Lending Centres 39 Collier Street, Ste. 300 Barrie ON L4M 1G5 Phone: 705.720.1001 ext. 225 or 1.888.500.1841 Direct: 705.791.6683 Fax: 705.739.1893 or 1.866.739.1893 Email| Website
This email was sent to natalia@ndlc.ca by anne@barriemortgagelocators.com |  
Neighbourhood Dominion Lending Centres | FSCO 11764 | Independently Owned and Operated | 1140 Stellar Drive | Newmarket | Ontario | L3Y 7B7 | Phone: 905.715.7086 | Canada

6 Jun

Bank of Canada Announcement June 5, 2012


Posted by: Anne Martin

NDLC Logo with wording
Bank of Canada Announcement
Date: June 5th, 2012  
Bank of Canada Announcement

Market Commentcanadian economy

As expected, there was no change in the Bank of Canada press release. Bank prime remains at 3%. 


This means no changes in variable rate mortgages or line of credit rates.


Fixed rates remain at records lows. We currently have five year money ranging from the 3.19% to 3.39%. We still have two lenders with 10 year rates at 3.89%.  



Below are the highlights of the Bank of Canada Announcement:

  • “Some of the risks around the European crises are materializing and risks remain skewed to the downside”  
  • Housing activity has been stronger than expected   
  • “Business and household confidence has held up and domestic financial conditions remain very stimulative” 
  • They expect CPI to fall below 2% with lower gas prices and core inflation to remain around 2%
  • It is projected that if the economy continues to grow, the Bank of Canada may start to slowly withdrawal some monetary policy stimulus. 
  • “The timing and degree of any such withdrawal will be weighted carefully against domestic and global economic developments”


Click here to read the full announcement    


The next Bank of Canada Announcement is scheduled for July 18th, 2012


Bank prime is 3.0%

P.S. If you have any questions as to what this means to your mortgage, I am always here to help you with unbiased advice.
In This Issue
No change in bank rate…
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Visit my Website

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

39 Collier Street, Suite 300 Barrie ON L4M 1G5

Cell: 705.791.6683 Office: 705.720.1001 ext.225 or 1.888.500.1851

Email Website

This email was sent to anne@barriemortgagelocators.com by anne@barriemortgagelocators.com |  
Neighbourhood Dominion Lending Centres | FSCO 11764 | Independently owned and operated | 1140 Stellar Drive | Newmarket | Ontario | L3Y 7B7 | Canada

1 Jun

Mortgage Market Update May 31, 2012 Bond rates drop slightly


Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: May 31st, 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- 05/29/2012          1.38          Interest Rate Sales

High           04/25/2012                              1.62 


Continued heightened awareness around Greece and Spain has caused our bond rate to slowly drop over the last few weeks. As a result, we have seen the majority of our lenders follow the market and tweak fixed rates. Five year money has lowered to the 3.14%-3.19% range.
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.

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..

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  • Constant update of Market Conditions
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  • Innovative Mortgage Strategies and NOT just Order Taking
In This Issue
Market Comment
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