26 Sep

Mortgage Market Update September 26, 2013

General

Posted by: Anne Martin

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

Market Update

The bond rate has continued to soften over the past week. If this continues, we may start to see some decrease on fixed rates.

 
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 3.69-3.89% range.10 year funds are in the 4.39% range.Variable rate mortgages are available as low as 2.55%.

  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 October 23, 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
 

CREA hikes forecast after jump in home prices

 

TARA PERKINS – REAL ESTATE REPORTER

The Globe and Mail

Published Monday, Sept. 16 2013, 9:23 AM EDT 

Last updatedMonday, Sept. 16 2013, 7:22 PM EDT

The housing market’s surprising strength was on full display in t  he August data released Monday, with sales up 11.1 per cent from a year earlier and prices rising more than economists expected.

 

“Next to no one predicted a big mid-year bounce in home sales at the start of 2013, when calls for Canadian housing market calamity were all the rage,” Bank of Montreal chief economist Doug Porter wrote in a research note. “Contrary to the Greek chorus of woe, sales are now above their 10-year average in seasonally adjusted terms.”

 

Prices, too, are defying expectations. “The housing market has proven more resilient in 2013 than we had anticipated,” Toronto-Dominion Bank economist Diana Petramala wrote in a note Monday. “The out performance has been particularly notable on the price side.”

 

August’s results prompted the Canadian Real Estate Association to increase its forecasts for both the number of houses that will change hands this year and for prices. It noted that some of the market’s current strength likely stems from buyers with pre-approved mortgages pressing forward before rates rise further. 

 

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
CREA hikes forecast after jump in home prices..
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 Sep

Interest rates continue to rise. Have you reviewed your mortgage plan lately? September 2013 Newsletter

General

Posted by: Anne Martin

 
 
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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  
 
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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…

Dominion Lending Centres has a great line of Visa cards that you can apply for directly through my website or by calling/emailing me today. The Dominion Lending Centres Student Visa is the perfect back-to-school accessory. It features a competitive interest rate and no annual fee, as well as a unique cell phone insurance feature to protect students from having to pay for a new phone if theirs is lost or stolen.

HOMEOWNER TIPS

Creating a Family Photo Wall:

Looking for some indoor projects to tackle this fall or winter that will help warm up your spaces? Why not discover a new way to display photos of your loved ones without using a hammer and nails? Removable self-adhesive plastic hooks are great for photo displays because they won’t mark the walls – you can move them around as much as you’d like until you create your desired display. You can gather your favourite family photos and display them in frames of different shapes and sizes, and put a new spin on showcasing your loved ones. Since you probably already have a variety of frames around the house, this project doesn’t have to cost a lot. And this is also a project that kids and other family members can join in on! 
 
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September 2013
Welcome to my September issue of our monthly newsletter!

 

Rates have continued to rise in the past month.

Will this be a continuing trend? Should you think about locking in your rate early and paying a penalty?

These are questions I am being asked almost every day. Every scenario is different and there is not a “one size fits all” answer.

We are also starting to see lenders enforcing the new government regulations. This will make it tougher to qualify in the months ahead. I will keep you updated on further changes. Not all lenders are implementing this ahead of the Dec. 31st date.

 

However, the one question that should always be considered is, did you review your own mortgage to see if it will be worthwhile?  Not doing this could potentially cost you thousands of dollars in the future. Think of it like an annual medical with your family doctor only it is an annual financial check up.

 

For me to do this for you is free and only takes a limited amount of time on your end.

 

This month’s edition explains the importance of choosing the best mortgage term, as well as offers suggestions for effectively conducting an energy retrofit for your home.

 

I am always available to assist you, your friends and co-workers. Give me a call!

….Anne Martin

  

 

Choosing the mortgage term that’s right for you can be a challenging proposition for even the savviest of homebuyers, as terms typically range from six months up to 10 years.
By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is best suited to your specific needs.
The first consideration when comparing various mortgage terms is to understand that a longer term generally means a higher corresponding interest rate. And, a shorter term generally means a lower corresponding interest rate. While this generalization may lead you to believe that a shorter term is always the preferred option, this isn’t always the case. Sometimes there are other factors – either in the financial markets or in your own life – that you’ll also have to take into consideration when selecting the length of your mortgage term.
With mortgage rates starting to rise, for instance, a longer term may be worth considering now. And if paying your mortgage each month places you close to the financial edge of your comfort zone, you may want to opt for a longer mortgage term, such as five or 10 years, so that you can ensure that you’ll be able to afford your mortgage payments should interest rates increase further.
By the end of a five- or 10-year mortgage term, most buyers are in a better financial situation, have a lower outstanding principal balance and, should interest rates have risen throughout the course of your term, you’ll be able to afford higher mortgage payments.
If you’re shopping for a mortgage for an investment property, you’ll likely want to consider choosing a longer mortgage term – depending, of course, on your overall plan. This will allow you to know that the mortgage payments on the property will be steady for a long time and enable you to more accurately project your future income from the property.
On the other hand, if you know you will not be staying in the same home for the next five or 10 years, opting for a shorter term can save you significant fees when it comes to early payout penalties.
Choosing the right mortgage term is a unique decision for each individual. By understanding your personal financial situation and your tolerance for risk, we can assist you in choosing the mortgage term that will work best for your situation.
As always, if you have any questions about mortgage terms or your mortgage in general, I am here to help!
 

 

Energy efficiency retrofits can reduce your energy consumption, impact on the environment and save you money. If not done properly, however, replacing windows, adding insulation and reducing air leaks can have unintended effects on your house, indoor air quality and your family’s safety.

 

So before the work is started, have your house checked for pre-existing conditions that could lead to problems down the road. These problems may include high humidity, water leaks, dampness and mold. Your house may also have stale air, lingering odours, soil gas intrusion and pollutant emissions from household products. Structural sags, cracks and deflections in the walls, floors or ceilings also represent problems that may need to be addressed first. Undertaking an energy efficiency building envelope retrofit before dealing with pre-existing conditions may make the problems worse and result in loss of time and money invested in the retrofit work.
For example, sealing air leaks can improve comfort, reduce heating costs and protect walls, windows and attic because it cuts down on the amount of leaking in to and out of your house. But, this can cause the air in the house to seem stale and odours to linger longer. Odours from previously unnoticed sources such as hobbies, pets or stored items may become more noticeable
Measuring the air leakage of the house with a blower door test before and after the retrofit work can offer an idea of how much the air leakage of the house has been reduced. If the reduction is significant, it may be a good idea to add a bathroom fan, range hood, air exchanger or, better yet, a heat recovery ventilator. When properly designed and installed, mechanical ventilation is more energy efficient and effective than uncontrolled air leakage.
Reducing air leaks can also decrease the air needed for the safe and efficient operation of furnaces, water heaters and fireplaces. Adding powerful or numerous exhaust fans can further increase the risk that fuel-fired appliances will not properly vent combustion gases – a situation known as “backdrafting”.
Providing adequate combustion air for heating appliances and sufficient make-up air to balance exhaust fans may be a necessary part of a building envelope insulation retrofit project. The safest solution is to convert fuel-fired appliances to direct-vent units or sealed-combustion units. The backdrafting risk can often be assessed by a qualified energy advisor. Mechanical contractors can be consulted regarding make-up air systems as well as direct-vent and sealed-combustion appliance options for furnaces, hot water tanks and fireplaces.
Retrofitting your home to make it more energy efficient and to reduce your heating and cooling costs is always a good idea. By recognizing and addressing the potential issues associated with any retrofit project, you’ll help reduce the likelihood of problems occurring after the work is done. Consult a qualified energy advisor, building professional, home inspector or contractor before you begin your energy efficiency retrofit to better understand, and plan for, pre-existing conditions and possible unintended effects of the retrofit project. Often, corrective measures can be planned that not only prevent problems, but also add value to the overall project.
To learn more about other sustainable technologies and practices that can improve the performance of your home, visit Canada Mortgage and Housing Corporation’s website at www.cmhc.ca or call 1-800-668-2642.

 
 
 
 
This email was sent to anne@barriemortgagelocators.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
19 Sep

Interest rates still on the rise. Mortgage Market Update Sept. 19, 2013

General

Posted by: Anne Martin

Neighbourhood Dominion Lending Centres
FSCO 11764 | Independently Owned & Operated
Mortgage Market Update
Date: September 19th, 2013  
Keeping you updated on Mortgage Matters

Market Update

The past few days have seen bond rates soften due to the US Federal Reserve, saying they are continuing their bond purchase program. Hopefully , this will stem the rising interest rate trend.

 
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 3.69-3.89% range.10 year funds are in the 4.39% 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 October 23, 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
 

Global Real Estate Trends
Global Economics

Adrienne Warren, September 11, 2013 Scotiabank
Aggressive monetary policy easing, which has anchored shGlobal Trends1ort-term interest rates in many countries near historic lows, alongside pent-up demand are helping to reinvigorate global property markets. Notwithstanding the sluggish pace of economic activity and elevated financial market volatility, inflation-adjusted home prices strengthened year-over-year in the second quarter in the majority of countries in our survey (chart 1). The turnaround is most notable in a number of advanced nations such as the United States and the United Kingdom, but prices are re-accelerating again in some emerging markets as well, including China.
The United States maintains its position near the top of our international ranking, with inflation-adjusted home prices rising 8% y/y in Q2. Demand is being bolstered by moderate job growth and near record housing affordability, while low inventories and fewer distressed sales are supporting prices. We expect rising mortgage rates will moderate, but not derail the recovery, which is still in its early stages from a cyclical standpoint. Household finances have improved, consumer confidence is rising and lending conditions are slowly easing. There is also considerable pent-up demand for housing following the multi-year downturn.
Canadian housing activity remains buoyant, though the underlying fundamentals for continued gains are becoming less favourable. Average inflation-adjusted home prices increased 2½% y/y in Q2 alongside
strengthening sales volumes. Low borrowing costs and balanced market conditions continue to attract buyers, though slowing job growth and the recent uptick in fixed mortgage rates will likely cool activity later in the year and into 2014. Affordability also is challenged in some of Canada’s largest urban centres, primarily for single-family homes.

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
Global Real Estate Trends…
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
5 Sep

Bank of Canada Announcement. No change. September 4, 2013

General

Posted by: Anne Martin

NDLC Logo with wording
Bank of Canada Announcement
Date: September 4, 2013  
Bank of Canada Announcement

Market Commentcanadian economy

There was no change in today’s press release. Their overall message of keeping Bank prime the same has not changed. Bank prime remains at 3%. 

 

This means no changes in variable rate mortgages or line of credit rates.

 

Five year money ranging from 3.59-3.89% and 10 year money from 4.19% range. Variable rate mortgages are available in the 2.6% range  

 

Below are the highlights of the Bank of Canada Announcement:

  • In the United States, the process of normalization of long-term interest rates has begun.
  • Inflation in Canada remains subdued. With inflation expectations well-anchored, both core and total CPI inflation are expected to return slowly to 2 per cent as the output gap closes.
  • mortgage interest rates are higher

Click Here to Read the Full Announcement

 

The next Bank of Canada Announcement is scheduled for Oct. 23, 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