28 Jul

Stability! Mortgage Market Update July 28, 2013

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: July 26, 2013  
Keeping you updated on Mortgage Matters

Market Update
               Rates have become steady!
 
The past 3 weeks have seen the bond rates become stabilized after the rapid increase we experienced.

5 year funds are available in the 3.39-3.59% range.  10 year funds are now in the 3.99- 4.19% range. 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 4.50% or more, we should explore the merits of refinancing to a lower rate.  Should you pay a penalty and lock in now for the future? It may result in savings of thousands of dollars and a longer term at today’s 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 September 4th, 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 home sales improve in June

 

 Mon, 07/15/2013 – 09:00

Ottawa, ON, July 15, 2013 – According to statistics  released today by The Canadian Real Estate Association (CREA), national  home sales rose in June 2013, building on   gains recorded over the  previous three months.

Highlights:

  • National home sales rose 3.3% from May to June.
  • Actual (not seasonally adjusted) activity came in 0.6% below levels in June 2012.
  • The number of newly listed homes edged down 0.5% from May to June.
  • The Canadian housing market has tightened but remains in balanced territory.
  • The national average sale price rose 4.8% on a year-over-year basis in June.
  • The MLS® HPI rose 2.3% year-over-year in June.

The number of home sales processed through the MLS® Systems of real  estate Boards and Associations and other cooperative listing systems in  Canada rose 3.3 per cent on a month-  over-month basis in June 2013. This  marks the fourth consecutive monthly increase, with activity now running  11 per cent above where it stood in February.

 

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 home sales improve in June…
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
18 Jul

No Change. Bank of Canada Announcement July 17, 2013

General

Posted by: Anne Martin

NDLC Logo with wording
Bank of Canada Announcement
Date: July 17, 2013  
Bank of Canada Announcement

Market Comment  Money Clock

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.

 

Five year money ranging from 3.39%-3.59% and 10 year money is at 3.99%  

 

Below are the highlights of the Bank of Canada Announcement: 

  • the global economy is expected to pick up in 2014 and 2015  
  • “Inflation has been low in recent months and is expected to remain subdued in the near term”     
  • “Monetary policy stimulus currently in place will remain appropriate
  • “As the normalization of these conditions unfold, a gradual normalization of policy interest rates can also be expected” 

 Click Here to Read the Full Announcement 

 

The next Bank of Canada Announcement is scheduled for September 4th, 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
2013_Achievement_logo1

 
 
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
5 Jul

Interest Rates have stabilized! Mortgage Market update July 5, 2013

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: July 5th, 2013  
Keeping you updated on Mortgage Matters

Market Update

Historical Canadian mortgage rates – 5 year Jan. 1990- Oct. 2012
 
The graph above allows you to look at rates at any point in time by placing your cursor on it, Try it out.

(Click on the graph image above and you will be sent to a different page where it becomes interactive for you.)
 
Rates have stabilized

The past week saw bond prices level out and mortgage rates stop increasing. The bonds actually fell about 10 basis points.

 
5 year funds are available in the 3.39-3.59% range.10 year funds are now in the 3.99- 4.19% range. Variable rate mortgages are available as low as 2.55%.
If you have a variable rate of any more than prime +.75 or a fixed rate of 4.25% or more, we should explore the merits of refinancing to a lower rate.  Should you pay a penalty and lock in now for the future? It may result in savings of thousands of dollars and a longer term at today’s 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 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
 

Toronto house prices up 5% but analysts say market stable

Housing_Market Home prices in the Greater Toronto area were up 4.7 per cent in June compared to a year ago, according to a report by the Toronto Real Estate Board that also showed a slight drop in sales over the same time period.

 

The rise in prices was driven by single-detached and semi-detached homes – particularly in the city of Toronto. The board called the price growth “in line with the 2013 norm,” in its report.

 

The report shows a housing market that continues to be balanced, according to RBC senior economist Robert Hogue.

 

 

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
Toronto house prices up 5% but analysts say market stable
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
2 Jul

Interest Rates Continue to Go Up. June 28, 2013 Newsletter

General

Posted by: Anne Martin

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

Market Update

Bond Yield Graph 2013

Gov’t of Canada. benchmark bond yields – 5 year  

21 June 2012 – 21 June 2013

Rates continue to go up!

The last 2 weeks has seen an increase in the bond prices of 60 basis points! This has been the sharpest adjustment in some time. 

 
What caused this? Two things. The U.S. Fed announcement that they were considering scaling back their financial stimulus ($85 Billion a month) sometime in 2014. Secondly, there has been concerning news on money tightening in   China. The markets immediately reacted by dumping bonds and subsequently the rate increases. A lot of experts have said this is an emotional reaction and will level out. Time will tell.
 
In the past 4 days or so, the prices have stabilized. I feel it is too soon to comment if this will continue or not. The article below is an excellent overview of this story.
 
If the market stays stable, variable rate mortgages in the 2.5-2.65% range will become a more attractive option.
5 year funds are available in the 3.39-3.59% range.10 year funds are now in the 3.89- 4.19% range. 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 me 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 me, I am always available to help.  
….Anne
 

Economists work to ballpark rising bond yields

 

13/06/24 | Last Updated: 13/06/25 5:32 PM ET  

Shredded US Dollar Time to strap on your seat belt. The yield on the U.S. 10-year will  shoot up to 3% by the end of this year, nearly twice this year’s lows  from back in the winter, says Royal Bank of Canada’s U.S. chief  economist.

 

“We do not expect that process will be linear, however,” cautioned Tom  Porcelli, in a recent note to clients. That may be an understatement.

 

Over the past few days the yield on the benchmark 10-year bond has has  staged one one of the biggest moves since the financial crisis in 2009.  Since Tuesday it’s jumped nearly 40 basis   points.

 

Said Mr. Porcelli: “Remember, while the Fed may no longer represent a  significant impediment to higher yields, the fate of rates is  multifaceted: European stress, EM growth concerns, and   our own homegrown  issues will all ultimately dictate the direction and speed with which  we get to 3% – or, even if we get to 3%.”

 

Translation: The U.S. central bank along with its peers around the world  is about to back away from quantitative easing programs that  artificially pumped up liquidity and cushioned against   market turmoil.  Get ready for the full impact of the storm that is raging in global  markets.

 

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
Economists work to ballpark rising bond yields…
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