23 Oct

Bank of Canada rate stays unchanged. Still concern over household debt.

General

Posted by: Anne Martin

 
NDLC Logo with wording
Bank of Canada Announcement
Date: October 23, 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 2.99% to 3.19%. We have one lender with a 10 year rate, both conventionally and high ratio, at 3.89%.   

 

Below are the highlights of the Bank of Canada Announcement: 

  • Very little change in the “Banks” wording re future plans of any rate changes. 
  • “over time, some modest withdrawal of monetary stimulus will likely be required.”
  • Inflation continues to be in line.
  • Similar concerns on the global economy and especially Europe, continue to be top of mind.   
  • Modest growth is still expected in the Canadian economy 

 Click Here to Read the Full Announcement

   

The next Bank of Canada Announcement is scheduled for  December 4th, 2012 

 

Bank prime is 3.0%

P.S. If you have any questions as to what this means to your mortgage, we are always here to help you with unbiased advice. 
 
 
In This Issue
No change in bank rate…
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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 annem@rogers.com by anne@barriemortgagelocators.com |  
Neighbourhood Dominion Lending Centres | FSCO 11764 | Independently owned and operated | 1140 Stellar Drive | Newmarket | Ontario | L3Y 7B7 | Canada

 

 

19 Oct

Canadian average household debt rises! Mortgage Market Update October 19, 2012

General

Posted by: Anne Martin

 

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: October 18, 2012  
Keeping you updated on Mortgage Matters

Market Update
The Canadian mortgage market was unchanged the past week. The Bank of Canada meets on October 23rd and at this time, no change is anticipated.
 
Regular 5 year money is currently in the 2.99% – 3.19% range.
We still have one lender, both conventional and high ratio, offering 10 year funds at 3.89%.               
 

If you have a variable rate of any more than prime +.75 or a fixed rate of 3.75% or more, we should explore the merits of refinancing to a lower rate.  It may result in savings of thousands of dollars and a longer term at today’s record low rates.  

  

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 October 23rd, 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

 

Quebecers have the least non-mortgage debt, RBC poll suggests

Canadian average household debt rose to record 152 per cent at the end of 2011

 

Montreal Gazette
October 10, 2012

 

TORONTO – A new poll suggests more Canadians are living debt free this year compared to 2011.

 

The annual RBC survey found that 26 per cent of respondents had no personal debt – excluding mortgage debt – in 2012, up from 22 per cent last year.

 

However, the poll found that on average Canadians are carrying $13,141 in non-mortgage debt, up $84 from last year.

 

Ontario residents were carrying the heaviest load at $15,361 while Quebecers had the least at $10,171.

 

Some 40 per cent of those polled said they were comfortable with their current debt level, down from 45 per cent last year.

 

And one-in-three respondents said their debt levels are a source of anxiety – up slightly from 2011.

 

Richard Goyder, vice-president of personal lending at RBC, says it’s “encouraging that the results show more Canadians have become debt-free over the past year.”

 

The poll also found a majority of respondents – 51 per cent – said it’s more important right now to pay down debt rather than save and invest for the future.  

Click here to read the 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
Quebecers have the least non-mortgage debt, RBC poll suggests…
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 annem@rogers.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

12 Oct

Don’t get caught in the cold. Winterize your home now!

General

Posted by: Anne Martin

With the closing of our family cottage last weekend and the frigid night temperatures we endured I have come to two realizations. 

Number one – don’t wait until Thanksgiving long weekend to close the cottage next year.  We keep trying to stretch it further and further hoping for a warm weekend so we can enjoy the beautiful Fall colours, but guess what, more often than not, we freeze instead!

Number two – It’s time to get the house ready for the winter.  

Here are some tips for winterizing your house and property.

  1. Furnace – if you haven’t yet, turn it on and make sure it works.  The last thing you need is to find out it doesn’t work on the first really cold day.  Have it cleaned and inspected to make sure it’s in good shape for the heating season.  The better shape it’s in, the more efficient it will be and the more money you will save.
  2. Insulation and drafty areas– is your home well insulated?  Have you been thinking about adding some insulation and filling drafty places?  Do that now before you lose valuable heat and drive your heating bill through the roof. 
  3. Roof – speaking of roof, what about the gutters and eaves.  Check those for blockage by leaves and debris.  You may think who cares about them, nobody can see it, but having a blocked gutter can cause ice to form causing a back up of water into your house when it melts.  Not to mention the damage the ice could cause to the eaves.  So by just scooping out the leaves you can save yourself lots of aggravation.
  4. Fireplace – do you have a fireplace?  It’s a good time now to have it cleaned and to have the chimney inspected.  A blocked chimney can be a dangerous situation either causing a backup of smoke, creosote, and other harmful chemicals.  Chimney fire is also a risk.   If you have a woodstove, take care of that too.
  5. Windows – if you have storm windows, it’s time to install them.  If you have drafty windows but no time or finances to replace them, there are kits that you can buy which includes plastic sheeting that is stretched across the window and a blow dryer is used to cause it to make it adhere to the window, blocking wind from getting in.
  6. Carbon Monoxide detector – with the furnace coming back on and the use of fireplaces, the risk of carbon monoxide returns, therefore check your detector to make sure it is functional.  Change the battery in that and the smoke detector.
  7. Outdoor furniture – outside furniture needs to either be brought in or covered to be ready for snow, wind and bad weather
  8. Flower bulbs – time to plant spring blooming bulbs and to bring in your bulbs that won’t survive the winter.  You can layer your bulbs in newspaper or dry mulch for the winter in a box and store for the winter in a cool dry place.
  9. Garden Hose – bring it inside or store it in a place where it won’t get damaged by the cold.  An exposed hose can get brittle from the cold and crack over the winter causing holes and leakage.
  10. Cover plants – cover your trees and plants before first frost to make sure they have a good chance to survive our chilly winters.

It seems like a lot of work but remember that a bit of work now will prevent a lot more work and expense later on.  And don’t forget, get the snow tires installed before the first snow flies!

 

11 Oct

Stronger US Housing Market helps to boost economy. Mortgage Market Update October 11, 2012

General

Posted by: Anne Martin

 

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: October 11, 2012  
Keeping you updated on Mortgage Matters

Market Update
No change in rates would best describe the past 7 days. The Bank of Canada meets on October 23rd and at this time, no change is anticipated.
 
Regular 5 year money is currently in the 2.99% – 3.19% range.
We still have one lender, both conventional and high ratio, offering 10 year funds at 3.89%.               

If you have a variable rate of any more than prime +.75 or a fixed rate of 3.75% or more, we should explore the merits of refinancing to a lower rate.  It may result in savings of thousands of dollars and a longer term at today’s record low rates.  

  

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 October 23rd, 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

 

Fed survey shows stronger U.S. housing market helping boost economy

 

Martin Crutsinge, Associated Press
Oct 10, 2012 2:26 PM ET

Fed survey shows stronger U.S. housing market helping boost economy

Stronger housing markets helped boost economic growth at the end of the summer in nearly every region of the United States, according to a Federal Reserve survey released Wednesday.

The Fed said growth improved in 10 of its 12 regional banking districts from mid-August through September, while leveling off in one region and slowing in another. Rising home sales helped lift home prices in most districts.

The report, known formally as the Beige Book, also cited an increase in auto sales in most parts of the country. Still, consumer spending was flat or up only slightly in most districts. Manufacturing activity was mixed, with half of the districts reporting slight improvement since the previous Fed report. And hiring was unchanged in most districts.

 

Click here to read the 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
Fed survey shows stronger U.S. housing market helping boost economy…
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 annem@rogers.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

6 Oct

New Financial Toolkit to help plan for your future. Mortgage Market Update Oct. 5, 2012

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: October 5, 2012  
Keeping you updated on Mortgage Matters

Market Update
In the past week, there was virtually no change in the bond or mortgage rates.  Costs of all funds remain extremely low.
All lenders and mortgage insurers are continuing to tighten up on lending policies. This makes it even more important that you are dealing with full time, seasoned professionals for your mortgage advice. We have seen a slight tweaking of fixed funds for high ratio or quick closings, offering a 5 year fixed at 2.99%.
Regular 5 year money is currently in the 3.09% – 3.19% range. We still have one lender, both conventional and high ratio, offering 10 year funds at 3.89%.

 

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 October 23rd, 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
 

Welcome to Your Financial Toolkit

 

Developed by the Financial Consumer Agency of Canada,

the Investor Education Fund and l’Autorité des marchés financiers

 

Do you want to get better at managing your money and feel more secure in your financial future? You’ve come to the right place.

 

Your Financial Toolkit has been designed to help Canadians manage their personal finances. Developed by the Financial Consumer Agency of Canada (FCAC), Investor Education Fund (IEF) and l’Autorité des Marchés financiers (AMF), the Toolkit provides reliable, unbiased and easy-to-use information and tools that people can use to become more capable and confident financial consumers.

 

Click here to read the 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
Welcome to Your Financial Toolkit…
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 annem@rogers.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

1 Oct

Small Business Networking at its Finest

General

Posted by: Anne Martin

Last Thursday morning I had the fortunate experience of attending the Small Business Connect first anniversary party.  This was an excellent demonstration of the power of small business networking.  As I entered the city hall rotunda, I was impressed to see the large number of small business owners that gathered to celebrate the occasion.

Headed by founders Shane Serra of WSI Solutions, Debbie Ouellet of Echelonone Business Consulting, Sinda Simpson of ESS Direct, Patricia Dent of Inciteful Solutions, and Rich Grof – RG Performance Development, this networking group only began one year ago and has grown into two separate locations with attendees bursting at the seams.

With the intent to bring together local entrepreneurs, experienced and new to business, they have brought together a group of people willing to collaborate and share their experiences to help each other grow and learn from each other.  Rather than an atmosphere of competition, there is a warm feeling of caring individuals who are dedicated to making all small businesses in Barrie and area successful in whatever the endeavors they partake. 

And all this is for free! 

Being a small business owner is a large town can often be stressful and rewarding as well.  Thanks Small Business Connect for making me feel at home.

Join my Facebook group Small Business Networking in Barrie and Area to learn and interact with networking groups in our area.  You can even post your event!