30 Aug

Mortgage see-saw tilts again! Mortgage Market Update August 30, 2013

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: August 30th, 2013  
Keeping you updated on Mortgage Matters

Market Update
Rates were stable this past week. With the Bank of Canada meeting next week, no changes are anticipated at this time.
 
With rates starting to increase, and if your mortgage is maturing in the next 6 months or you are thinking of refinancing, we strongly recommend you start the process now.
  
5 year funds are available in the 3.59-3.89% range.10 year funds are in the 4.19% range.Variable rate mortgages are available as low as 2.55%. 
If you have a variable rate of any more than prime +.25 or a fixed rate of 4.25% 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 September 4, 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
 

Mortgage see-saw tilts again
 

By Jay Bryan, Special to The Gazette August 23, 2013 Montreal Gazette

For most of the past 30 years, betting on a  variable-rate mortgage – the kind whose interest rate floats up and down  with a bank’s prime rate – has been a good bet. People who thought  rates were headed up and then locked in a long-term fixed mortgage rate  mostly tended to pay more in the end.

 

But that  changed radically by early this year, with long rates having become a  screaming bargain – for a few months. Sadly for buyers, the mortgage  see-saw has tilted once again, creating new uncertainty for anyone  eyeing or refinancing a home.

 

One reason that  variable rates tended to be cheaper in past years was that when you  borrow at a fixed rate for, let’s say, five years, it’s a risky  proposition for whoever is lending to you.

 

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
Mortgage see-saw tilts again…
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
23 Aug

No more changes expected by Federal Gov’t. Mortgage Market Update August 23, 2013

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: August 22nd, 2013  
Keeping you updated on Mortgage Matters

Market Update
Today’s article is excellent news that the Federal government is not expecting any more changes to the mortgage rules at this time.
 
The cost of funds continued to increase last week. Several of the major banks announced rate increases over the past few days.
 
With these increases, there is now approximately a 1% spread between the cost of 5 year fixed vs 5 year variable rate mortgage. We are starting to see renewed interest in variable rate mortgages because of this.
 
With rates starting to increase, and if your mortgage is maturing in the next 6 months or you are thinking of refinancing, we strongly recommend you start the process now.
 
5 year funds are available in the 3.49-3.79% range. 10 year funds are in the 4.19% range. Variable rate mortgages are available as low as 2.55%.
If you have a variable rate of any more than prime +.25 or a fixed rate of 4.25% 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 September 4, 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
 

No plans to intervene in housing market, Flaherty says

 

By Meagan Fitzpatrick CBC NewsPosted: Aug 21, 2013 12:27 PM ET Last Updated: Aug 21, 2013 7:18 PM ET

 

Federal finance Minister Jim Flaherty said today he is satisfied with the measures his government has already taken to calm the housing market and has “no plans” to intervene any further.

 

Flaherty said the government watches the housing and condo market closely, and noted that in the last five years, he has taken steps, including changes to mortgage lending rules, to deal with a hot housing market. But, he said, “there are no plans presently to intervene further.”

 

Flaherty was asked about the housing market and a range of other issues when he spoke to reporters Wednesday ahead of his annual summer policy retreat in Wakefield, Que., across the river from Ottawa.

 

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
No plans to intervene in housing market, Flaherty 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@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
18 Aug

Rise in Bond Rates, interest rates on the rise! Mortgage Market Update August 16, 2013

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: August 16th, 2013  
Keeping you updated on Mortgage Matters

Market Update
The bond rates have moved up over the past few days, and several lending institutions have   increased their rates by 10-20 basis points. We still have some 5 year funds at 3.39%.
 
With rates starting to increase, and if your mortgage is   maturing in the next 6 months or you are thinking of refinancing, we strongly recommend you start the process   now.
  
The major announcement by CMHC last week is still working   itself through the market. While it is still too early to accurately assess what it will mean to the consumer, it   is becoming clear that slightly higher rates will likely exist. Expect to hear more about this in the weeks to   come
  
5 year funds are available in the 3.39-3.59% range. 10 year funds are in the   4.19% range. Variable rate mortgages are available as low as 2.60%. 
If you have a variable rate of any more than prime +.25 or a fixed rate of 4.25% 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 September 4, 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
 

Mortgage lending changes unwelcome in cool Ottawa market

 

CBC News Posted:  Aug 12, 2013   6:28 AM ET     Last Updated:   Aug 12, 2013     7:48 PM ET   

New rules designed to cool hot housing markets in Toronto   and  Vancouver could send a chill through Ottawa’s real estate sector,  according to an Ottawa real estate   expert.

 

Last week the Canada Mortgage and Housing Corp. put a cap on the amount of mortgage-backed securities sold by banks that it is willing to   guarantee.

 

The rules come as markets such in Toronto and Vancouver   continue to  see home sales and prices rise despite predictions of a market  correction.

 

Ottawa’s housing market has been stable, and only recently   started picking up in July.

 

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
Mortgage lending changes unwelcome in cool Ottawa market…
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
9 Aug

Major Announcement affecting CMHC volumes. Mortgage Market Update August 9, 2013

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: August 9th, 2013  
Keeping you updated on Mortgage Matters

Market Update
The past month has seen the bond rates remain extremely stable. Therefore, nominal movement on all fixed rates.
 
There was a major announcement by CMHC this past week as to limiting the volume of insured mortgages  available to any one lender to $350 Million per month. It is too early to tell how this will effect our money markets. Expect to read and hear more about this in the weeks and months to come.
 
5 year funds are available in the 3.39-3.59% range. 10 year funds are 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 +.25 or a fixed rate of 4.25% 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 September 4, 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
 

Data Release: Toronto and Vancouver housing reignite in July

TD Economics August 2, 2013 
Data from the respective real estate boards released today revealed that Toronto and Vancouver’s housing markets reignited in July, with sales up 16% and 40% year-over-year, respectively. It was the best July on record for sales in Vancouver and the third best for sales in Toronto.
According to the Toronto Real Estate Board, the Toronto housing market is in seller’s territory, with sales growing faster than listings. As a result, home prices rose 8% from year ago levels Vancouver’s market remains more balanced and home prices were down 2.3% from year ago levels.

higher interest rates and a shorter amortization period.

 

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 and Vancouver housing reignite in July
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