28 Mar

Rates and Bonds unchanged. The Easter addition of Mortgage Market Update.

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: March 28th, 2013  
Keeping you updated on Mortgage Matters

Market UpdateHappy Easter
Best wishes to you all, for a “Happy Easter” and a safe and enjoyable long weekend!

Rates and bonds were unchanged last week. 5 year funds are available in the 2.84-2.99% range, 10 year funds as low as 3.69%. Variable rate mortgages are available as low as 2.65%. 

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 April 17th, 2013.

  

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
 

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
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@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
25 Mar

Considering a home purchase? Get a preapproval and a rate hold! March Newsletter.

General

Posted by: Anne Martin

 
 
Consumers Home Digest Header
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
Email My Website Company Website
2013_Achievement_logo1  
 
Like me on Facebook
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Health1
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.
705.791.6683 or 705.720.1001 ext 225
 

DID YOU KNOW…
Now’s the perfect time of year for a free mortgage check up. With Spring on its way and interest rates still hovering near historic lows, now’s the perfect time for us to revisit your mortgage and ensure it still meets your needs. Perhaps you’ve been thinking about refinancing to consolidate debt, purchasing a rental or vacation property, or you simply want to take a vacation. Whatever your needs, I can evaluate your situation and help you determine what’s right for you.
 
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March 2013
Welcome to the March issue of my monthly newsletter!
This month’s edition discusses the value of obtaining a rate hold and preapproval, as well as offers some helpful mortgage fraud prevention tips.

With the new government changes and the overall tightening up of the mortgage market, it has never been more important to work with an experienced team of mortgage brokers.

 

If you or someone you know is going to buy or sell in the Spring, call me for a free, unbiased, no obligation appointment, at 705.791.6683 or 705.720.1001 ext. 225.

Let me help you plan your strategy so that your experience is smooth and there are no surprises.

….Anne Martin

  

 

Value of a Rate Hold

Securing a rate hold is like having insurance on your mortgage rate – you no longer have to worry about mortgage rates increasing while you find your new home over the next 90-120 days. And if rates drop within that same period, so too will your preapproved rate.
For instance, if you obtain a 3.00% rate hold and then global risks subside and the economy strongly recovers over the next three to four months, that 3.00% could easily jump to 3.5% or higher. In this case, your rate hold for 3.00% would have saved you half of a percentage point, which would translate to a savings of a significant amount of money over the term of your mortgage. 

 

But a rate hold means nothing if you don’t meet the lender’s qualifications. By obtaining a preapproval and a rate hold, you can be confident you have access to mortgage financing and you’ll know how much you can spend before you head out shopping for a property.
It’s important to note, however, that there is a significant difference between being preapproved and prequalified. In order to obtain a preapproval, the lender fully underwrites the deal, whereas with a prequalification only the most basic details are considered. Remember that many banks will only issue a prequalification, while mortgage brokers will ensure you’re preapproved. 

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

 

Owning your home Sales_Home_Property
Remains a Logical Long-Term Investment
There are varying opinions abut the merits of treating a principal residence as part of a long-term investment strategy, rather than renting a home and investing the remaining savings. Dollar for dollar, renting sometimes comes out ahead in such analyses, largely based on the lump sum required for most down payments, and the costs associated with ongoing maintenance. However, there are enormous advantages in making a commitment to purchase a home when it is certain to increase in value over time. Once you purchase a home, mortgage payments become a forced discipline that contributes to long-term equity. Meanwhile, you are able to enjoy the relative security of living in a place of your choosing, under relatively preferred terms. In other words, you make your home to your liking, while it makes you more financially secure over time. This may seem unconvincing to anyone who prefers to rent, but few renters possess the discipline to systematically invest their “spare” cash month after month the same way a homebuyer readily accepts a mortgage as a normal part of a meaningful and rewarding financial investment.
Call us for a free, no obligation consultation if you or someone you know is looking to buy a home whether it is their first or second home.
 

Fraud Prevention Tips

 

In recognition of March as Fraud Prevention Month, Canada Mortgage and Housing Corporation (CMHC) has compiled several helpful tips to protect borrowers against becoming victims of mortgage fraud.

 

Misrepresentation of information Mortgage fraudoccurs when someone deliberately misrepresents information in order to obtain mortgage financing that would not have been granted if the truth had been known. This can include:

  • Misstating one’s position or inflating one’s income or length of service at their job
  • Misstating employment status (ie, salaried/full-time versus contract, part-time, hourly, commission-based or self-employed)
  • Misrepresenting the amount and/or source of the down payment
  • Purchasing a rental property and misrepresenting it as owner-occupied
  • Not disclosing existing mortgage and/or debt obligations
  • Misrepresenting property details or omitting information in order to inflate the property value
  • Adding co-borrowers who won’t be residing in the home and don’t intend to take responsibility for the mortgage        

Another common form of fraud is when a con artist convinces someone with good credit to act as a “straw buyer.” A straw buyer is someone who agrees to put his or her name on a mortgage application on behalf of another person. In return for their participation, straw buyers may be offered cash or promised high returns when the property is sold. Often, straw buyers are deceived into believing that they’ll not be held responsible for the mortgage payments.
Consequences of misrepresentation Borrowers who misrepresent information and straw buyers who allow a property to be purchased in their name are committing mortgage fraud and will be responsible for any financial shortfall in the event of default. They may also be held criminally responsible for their misrepresentation.
Reporting fraud If you suspect that you or someone you know has been the victim of mortgage fraud, contact your local police department or The Canadian Anti-Fraud Centre: www.antifraudcentre-centreantifraude.ca; 1-888-495-8501; info@antifraudcentre.ca.
To find out more about mortgage fraud, visit the fraud prevention section of the Canadian Association of Accredited Mortgage Professionals (CAAMP) website:  http://mortgageconsumer.org/protect-yourself-from-real-estate-fraud.

 

 

 
 
 
 
This email was sent to glennafraser@hotmail.com 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 Mar

Mortgage Market Update March 21, 2013

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: March 21st, 2013  
Keeping you updated on Mortgage Matters

Market Update
Bond and mortgage rates continue to stay at record lows. No changes in interest rates.
5 year funds are available in the 2.89-3.04% range, 10 year funds as low as 3.69%. Variable rate mortgages are available as low as 2.65%.

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 April 17th, 2013.

 

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
 

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
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@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
8 Mar

Spring renovations are just around the corner. Get started on the right foot!

General

Posted by: Anne Martin

Choosing the right contractor can make all the difference between having a good renovation experience and a job done that leaves you feeling cheated.

Here are some tips for choosing a contractor

 Ask friends, neighbours and relatives for recommendations of a good contractor.  Go to see their work if possible.  Find out what kind of work they did for them. The last thing you want is a company that specializes in kitchen cabinets doing your hardwood floors.  Ask your friends what they liked and didn’t like about their work.  Remember that the quality of the work is just as important as how they handle mistakes and disagreements.

During the term of the contract and work completion, make sure any changes and extra expenses are provided in writing. The last thing you need is a big surprise when you get the final invoice at the end.  This is what keeps small claims court busy!

Get references from the contractor and check them.  Talk with people that personally used that contractor, so they can speak about their direct experience.

Get at least three estimates for the same job.  This will check prices and ideas.  Be sure you are comparing apples to apples.  Some contractors may have different ideas as to how they would do the job.  Pick the one that you are most comfortable with that will suit your needs.  The lowest price is not always the best choice!

Keep down payments and advances to a minimum, and make sure you are thoroughly satisfied with the work prior to making the final payment.  It also ensures that the contractor completes the work.

Plan a budget.  Keep in mind that the projected cost of the renovation may be different than the real cost.  Ensure that you receive a quote in writing, not just a business card where the contractor writes a number on the back.  A good estimation system is a sign of a qualified and professional company.

Here are some financing options to consider;

Commonly, the work estimates are higher than you anticipated.  There are several options to finance the work and get the whole job done.

–        You can use the equity in your home to pay for these improvements?  And don’t forget that as you improve your home, you increase the value. 

–        There are lines of credit, home improvement mortgages and many other options.

Speak with a mortgage specialist for more details.

Check out the Ontario Ministry of Consumer Services http://ow.ly/isZid

6 Mar

Bank of Canada Announcement. No major changes. Rates are still very low.

General

Posted by: Anne Martin

 

NDLC Logo with wording
Bank of Canada Announcement
Date: March 6th, 2013  
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.

 

Lender competitiveness in the upcoming spring market has led to a slight drop in fixed rates. Five year money ranging from 2.89%-3.04% and 10 year money in the 3.69%-3.79% range.   

 

Below are the highlights of the Bank of Canada Announcement: 

  • “Global financial conditions remain stimulative, despite recent volatility”
  • “Canada’s economy grew by 0.6% in fourth quarter of 2012” 
  • The Bank expects economic growth to pick up through 2013
  • Exports are likely to remain lower than anticipated due to lessened foreign demand and continued competitiveness. 
  • “Monetary policy stimulus currently in place will likely remain appropriate for a period of time”

 Click Here to Read the Full Announcement

 

The next Bank of Canada Announcement is scheduled for April 17th, 2013. 

 

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…
Quick Links
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@ndlc.ca by anne@barriemortgagelocators.com |  
Neighbourhood Dominion Lending Centres | FSCO 11764 | Independently owned and operated | 1140 Stellar Drive | Newmarket | Ontario | L3Y 7B7 | Canada
1 Mar

Canadian Economy stalls at 2012 end. Mortgage Market Update March 1, 2013

General

Posted by: Anne Martin

 

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: March 1st, 2013
 
Keeping you updated on Mortgage Matters

Market Update


The bond rate is virtually the same today as on January 1st. This is the most steady we have seen it in years.

No changes in rates and no change is anticipated in next week’s Bank of Canada announcement.

5 year funds remain in the 2.94-3.19% range, 10 year funds as low as 3.69%. Variable rate mortgages are available as low as 2.65%. 

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 March 6th, 2013.

  

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

 

Canadian economy gets double blow on inflation, retail trade

KEVIN CARMICHAEL

The Globe and Mail

PublishedFriday, Feb. 22 2013, 8:45 AM EST

Last updatedFriday, Feb. 22 2013, 6:54 PM EST

Canada’s economy slowed to stall speed at the end of 2012, putting pressure on the Bank of Canada to extend a period of ultra-low interest rates that already has been locked in for more than two years.

 

Retail sales plunged 2.1 per cent in December, Statistics Canada said Friday, surprising many Bay Street economists who assumed the allure of the holiday shopping season would have offset the damping effects on household spending of stagnant wages and record-levels of debt.

 

A separate Statscan report showed annual inflation at a mere 0.5 per cent in January, marking the smallest 12-month increase in consumer prices since October, 2009, and contributing to the prevailing sentiment that Canada’s economy, once the envy of the industrial world, suddenly is standing still.

 

The Canadian dollar fell 0.2 of a cent, to 97.96 cents U.S., on Friday, while the S&P/TSX composite index advanced 61.65 points to 12,701.63.

 

The decline in retail sales in December was the biggest in almost three years; combined with previously reported drops in wholesale sales, factory shipments and housing starts, it all but assures Canada’s gross domestic product contracted in the final month of 2012.

 

“It’s an ill omen,” said David Watt, chief economist at HSBC Bank Canada in Toronto.

 

Statscan is scheduled to release GDP figures for December and the entire fourth quarter on March 1.

 

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
Canadian economy gets double blow on inflation, retail trade…
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@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