20 Jun

Interest Rates are Up! Number of Homes Sold so far in 2013 higher than projected.

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: June 20th, 2013  
Keeping you updated on Mortgage Matters

Market Update
Rates are up!

Bonds rates have steadied the past week. However, yesterday’s news contained reports that the US Fed may stop supporting their extraordinary stimulus in terms of their monthly purchase (85 Billion) of bonds. It will be interesting to see how the world markets react to this.

5 year funds are available in the 3.04-3.29% range.10 year funds remain unchanged as low as 3.69%. This will make the 10 year monies more attractive for those desiring long term security.
Variable rate mortgages are available as low as 2.60%.
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 July 17, 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
 

Canada’s housing market surprising healthy, real estate rep says

Canadian Real Estate Association forecasts there will be more sales next year than in 2013 and 2012

Housing_Market Canada’s housing market continues to show signs of stability as the number of homes sold so far this year has come in slightly higher than projected, a possible signal that the market is set for a rebound in 2014, according to the Canadian Real Estate Association.

 

The industry group representing Canadian realtors reported Monday that although it still expects fewer sales to be logged this year than in 2012, the decline will be smaller than what was predicted in March.

 

Overall, it forecasts that there will be more sales next year than in 2013 and 2012.

 

Douglas Porter, chief economist with BMO Capital Markets, said the figures show that the doom and gloom that has been anticipated for the Canadian housing sector looks like it’s been delayed – at least for the near future.

 

“Overall, this is relatively encouraging news,” he said. “If anything, the surprise has been how healthy the housing market has been.”

 

CREA is now estimating that 443,400 units will be sold in 2013 , a decline of 2.5 per cent from 454,573 in 2012. It had previously projected a decline of 2.9 per cent from 2012.

 

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
Canada’s housing market surprising healthy, real estate rep says…
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
13 Jun

Bounce Back in Canadian Home Prices. Mortgage Market Update June 13, 2013

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: June 13th, 2013  
Keeping you updated on Mortgage Matters

Market Update
 
Rates are up!
 
The bond rates have shot up approximately 40 basis points the past 2 weeks. All lenders have raised their 5 year fixed rates at least once and most have had 2 increases.
5 year funds are available in the 3.09-3.29% range.10 year funds remain unchanged as low as 3.69%. This will make the 10 year monies more attractive for those desiring long term security.
Variable rate mortgages are available as low as 2.60%.
 
The Bank of Canada rate was not changed on May 29th. Prime remains at 3.0%
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 July 17, 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
 

Spring puts bounce back in Canadian home prices

Andrea Hopkins, Reuters 13/06/12 | Last Updated: 13/06/12 10:54 AM ET

House for Sale TORONTO – Canadian home prices jumped in May from April as a spring rebound in real estate continued in most cities, offsetting a couple of weak markets, the Teranet-National Bank Composite House Price Index showed on Wednesday.

 

The index, which measures price changes for repeat sales of single-family homes, showed overall prices rose 1.1% in May, the ninth time in 15 years that May prices were up 1.0% or more from April

 

The index was up 2.0% from a year earlier, which matched the April rate and marked the smallest 12-month gain since November 2009.

 

The report suggested Canada’s housing market regained strength in the spring after a long slow winter of decline following the government’s move to tighten mortgage lending rules in July 2012.

 

Residential real estate activity typically picks up in the spring, and economists have been waiting to see if demand will return after a dramatic slowdown since the middle of 2012.

 

The report echoed one released on Monday by the Canada Mortgage and Housing Corp that showed housing starts jumped much more than expected in May from April, suggesting residential construction may contribute to Canadian economic growth in the second quarter. 

 

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
Spring puts bounce back in Canadian home…
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