25 Feb

Interest Rate Market Steady this week. Mortgage Market Update February 25, 2014

General

Posted by: Anne Martin



 


Anne Martin
Mortgage Agent | FSCO # M10002257

705-720-1001
1-800-500-1841 
 
anne@ndlc.ca | www.barriemortgagelocators.com

39 Collier Street, Ste 300 Barrie ON L4M 1G5

  

  Neighbourhood Dominion Lending Centres |  FSCO 11764  Independently Owned & Operated

Monday, February 24, 2014
Market Update

The interest rate market was extremely steady the past week. We currently have 5 year money in the 3.29-3.49% range. Variable rates continue to be an attractive option with rates around 2.50-2.60%. With the Bank of Canada meeting in the next couple of weeks, we do not expect any changes at this time. 
  
If your mortgage is renewing in the next 6 months or you are thinking of refinancing, I strongly recommend that you start the process now.

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.   
 

Please 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 Bank of Canada meeting is on March 4th.

P.S. If you, your family, or co-workers require guidance on current market trends, please call me, I’m always available to help.

…Anne

To enter, close a mortgage through Neighbourhood Dominion Lending Centres (including switches and refinancing) OR refer others to do the same. For each deal that closes, you and your referral will receive an entry ballot! The more referrals you send, the better your chances of winning!

Call me for more details.

Contest closes November 20th, 2014 at midnight EST.

Contest Rules and Regulations


 Historical Interest Rate Graphs   

Below you will find a feature which will give you current interest rate trends. It  can also be accessed on our web site. I hope you and your clients find it useful

Click here to  access rate graphs 


My Commitment to You 

  • Constant update of Market Conditions
  • Innovative Mortgage Products
  • Value Added Services
  • Unbiased Advice
  • Innovative Mortgage Strategies and NOT just Order Taking
18 Feb

Enter to Win $25,000. Mortgage Market Update February 18, 2014

General

Posted by: Anne Martin



 


Anne Martin
Mortgage Agent | FSCO # M10002257

705-720-1001
1-800-500-1841 
 
anne@ndlc.ca | www.barriemortgagelocators.com

39 Collier Street, Ste 300 Barrie ON L4M 1G5

  

  Neighbourhood Dominion Lending Centres |  FSCO 11764  Independently Owned & Operated

Tuesday, February 18, 2014
Market Update

Rates have remained stable the past week. Bond rates did inch upwards a little, but no changes in lenders rates yet.

5 year mortgages are ranging from 3.15%-3.39% range, Variable rate mortgages are in the 2.45%-2.65% range.

The federal budget did contain several mortgage related items, however; they do not directly effect anyone individually at this time. They may have some long term negativity on the overall supply of mortgage funds. Time will tell on this

If your mortgage is renewing in the next 6 months or you are thinking of refinancing, we strongly recommend you start the process now.

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.   
 

Please 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 Bank of Canada meeting is on March 4th.

P.S. If you, your family, or co-workers require guidance on current market trends, please call me, I’m always available to help.

…Anne

To enter, close a mortgage through Neighbourhood Dominion Lending Centres (including switches and refinancing) OR refer others to do the same. For each deal that closes, you and your referral will receive an entry ballot! The more referrals you send, the better your chances of winning!

Call me for more details.

Contest closes November 20th, 2014 at midnight EST.

Contest Rules and Regulations


 Historical Interest Rate Graphs   

Below you will find a feature which will give you current interest rate trends. It  can also be accessed on our web site. I hope you and your clients find it useful

Click here to  access rate graphs 


My Commitment to You 

  • Constant update of Market Conditions
  • Innovative Mortgage Products
  • Value Added Services
  • Unbiased Advice
  • Innovative Mortgage Strategies and NOT just Order Taking
13 Feb

Consumers Home Digest and Contest with Prize of $25,000. Feb. 13, 2014

General

Posted by: Anne Martin

 



 


Anne Martin
| FSCO # M10002257

705-720-1001
1-800-500-1841 
 
anne@ndlc.ca | www.barriemortgagelocators.com

39 Collier Street, Ste 300 Barrie ON L4M 1G5

  

  Neighbourhood Dominion Lending Centres |  FSCO 11764  Independently Owned & Operated
 
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? 

Simply call us todayfor a “mortgage check-up” and you’ll be better prepared. 

 


 

705-720-1001 1-800-500-1841

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 

Seal Out the Cold:

In winter, reduce the heat lost from your home or workplace by getting rid of drafts around windows, doors, baseboards and outside wall openings. 

Windows can account for a large part of heat loss in a building. Upgrade them if they are too old. Window insulators can help keep your home warm in winter and cool in summer. Insulate power outlets and other sockets using foam pads – this is really important if the walls are not properly insulated

INSPIRATION

“A life is not important except in the impact it has on other lives”

~ Jackie Robinson

Welcome to the February issue of Home Digest

This month’s edition introduces our NEW$25,000 Contest – read below to understand how easy it is to enter for your chance to win.

Our newsletter articles suggest five deeper questions you should consider asking about your mortgage, as well as shows you how to save energy and money with a setback thermostat.

Please let me know if you have any questions or feedback regarding anything outlined below.

Thanks again for your continued support and referrals!



Anne


To enter, close a mortgage through Neighbourhood Dominion Lending Centres (including switches and refinancing) OR refer others to do the same. For each deal that closes, you and your referral will receive an entry ballot! The more referrals you send, the better your chances of winning!

Ask your participating Neighbourhood Dominion Lending Centres Mortgage Broker/Agent for more details

Contest closes November 20th, 2014 at midnight EST.

Contest Rules and Regulations

As a mortgage borrower – particularly if this is your first time embarking upon home-ownership – there’s no doubt you have a load of questions related to the mortgage process. Aside from the most common questions, such as those relating to mortgage rate, the maximum mortgage amount you’ll be able to receive, as well as how much money you’ll need to provide for a down payment, the following five questions and answers will help you dig a little deeper into the mortgage financing process.

1. Can I make lump-sum or other prepayments on my mortgage without being penalized? Most lenders enable lump-sum payments and increased mortgage payments to a maximum amount per year. But, since each lender and product is different, it’s important to check stipulations on prepayments prior to signing your mortgage papers. Most “no frills” mortgage products offering the lowest rates often do not allow for prepayments.

2. What mortgage term is best for me?Terms typically range from six months up to 10 years. 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 – you’ll also have to take into consideration. 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.

3. Is my mortgage portable? Fixed-rate products usually have a portability option. Lenders often use a “blended” system where your current mortgage rate stays the same on the mortgage amount ported over to the new property and the new balance is calculated using the current rate. With variable-rate mortgages, however, porting is usually not available. This means that when breaking your existing mortgage, you will face a penalty. This charge may or may not be         reimbursed with your new mortgage. Some lenders allow you to port your mortgage, but your sale and purchase have to happen on the same day, while others offer extended periods.

4. What amortization will work best for me?The lending industry’s benchmark amortization period is 25 years, and this is also the standard used by lenders when discussing mortgage offers, as well as the basis for mortgage calculators and payment tables. Shorter timeframes are also available. The main reason to opt for a shorter amortization period is that you’ll become mortgage-free sooner. And since you’re agreeing to pay off your mortgage in a shorter period of time, the interest you pay over the life of the mortgage is, therefore, greatly reduced. A shorter amortization also affords the luxury of building up equity in your home sooner. While it pays to opt for a shorter amortization period, other considerations must be made before selecting your amortization. Because you’re reducing the actual number of mortgage payments you make to pay off your mortgage, your regular payments will be higher. So if your income is ir! regular because you’re paid commission or if you’re buying a home for the first time and will be carrying a large mortgage, a shorter amortization period that increases your regular payment amount and ties up your cash flow may not be your best option.

5. How do I ensure my credit score enables me to qualify for the best possible rate?There are several things you can do to ensure your credit remains in good standing. Following are five steps you can follow: 1) Pay down credit cards. This is the #1 way to increase your credit score. 2) Limit the use of credit cards. If there’s a balance at the end of the month, this affects your score – credit formulas don’t take into account the fact that you may have paid the balance off the next month. 3) Check credit limits. Ensure everything’s up to date as old bills that have been paid can come back to haunt you. 4) Keep old cards. Older credit is better credit. Use older cards periodically and then pay them off. 5) Don’t let mistakes build up. Always dispute any mistakes or situations that may harm your score b! y making the credit bureau aware of each situation.

As always, if you have any questions about the information above or your mortgage in general, I’m here to help!

Thermostats control heating and cooling appliances in houses. A setback thermostat gives the user the option of changing the temperature setting automatically at night and also during the workday when the occupants have left the house. A setback thermostat can help reduce overall household energy consumption.

A conventional thermostat simply regulates house heating at one temperature. For instance, in the winter, if you set the thermostat to 20°C (68°F), it will activate the heating system when the house temperature drops below 20°C and will shut the system off when the house air warms up past 20°C.

A setback thermostat contains an electronic clock. It can automatically turn down the temperature setting at night when you’re asleep, or during the day when you’re at work. It can also return the temperature to a more comfortable level before you wake up or arrive home from work. That way, you can have the energy savings of a lowered thermostat setting without the discomfort of having to wait for the house to heat up again.

The setback thermostat can also be used as a set-forward thermostat for an air conditioning system. It can allow the house to heat up when it’s unoccupied and return it to a comfortable temperature before occupants return from daytime activities.

Although this article deals with setback thermostats and forced-air heating systems generally, you can apply some of the advice to electric baseboards or to summer usage.

You can use a standard thermostat to set your house temperature lower during times when the house is unoccupied. This will lead to similar energy savings as with a setback thermostat, but without the convenience.
          
What’s a normal house temperature?

CMHC randomly surveyed Canadian households. Thermostat settings in the winter tend to be quite closely grouped around 20°C – 21°C (68°F – 70°F). Summer temperatures range much more widely, depending upon whether the house has air conditioning.

Where should I set the thermostat?

The more you reduce the thermostat setting, the greater the possibility for savings. Generally, a drop of 2°C (3.6°F) will lead to some savings and little risk. Some householders reduce temperatures 4°C – 6°C (7°F – 11°F). But, temperature differences this large create potential comfort and moisture problems.

Does setting back the temperature save energy?

Yes. Research from the Canadian Centre for Housing Technology shows that winter setbacks for the houses tested would result in heating cost savings of 5-15%. The highest savings came with a setback of 6°C (11°F). See CMHC’s Research Highlight: Effects of Thermostat Setting on Energy Consumption.

Savings for the summer were about the same, although simply raising the thermostat set point in the summer from 22°C (71°F) to 24°C (75°F) led to more significant savings than the set-forward strategy and also offered better indoor humidity control.

Note that these savings are for two airtight, well-insulated, unoccupied houses. The savings in your home may vary, but are likely to be in the same range.

To learn more about other sustainable technologies and practices that can improve the performance of your home as well as information on owning or buying a home, call Canada Mortgage and Housing Corporation (CMHC) at 1-800-668-2642 or visitwww.cmhc.ca.

12 Feb

Humanitarian Build Dominican Republic February 2014

General

Posted by: Anne Martin

Last week I had the honour and privilege of participating in a Humanitarian Build in Dominican Republic.  As a member of Builders for Change, a non profit organization located in Barrie, Ontario, we constructed the first floor of a community centre which will house a Boys and Girls Club operated by Dove Mission, a non profit organization dedicated to enriching the lives of Dominican and Haitian Children in an impoverished area just outside of Puerto Plata.  Dove Missions’ main goal is to implement “youth development outreach programs primarily aimed at serving abandoned, abused, and orphaned kids”.

I am very proud to be a member of the team that assisted a local team of builders for 6 days by carrying buckets of cement, moving cement blocks, sifting sand, we pointed cement block walls and many other tasks that I never would have imagined I could do.   We also had many skilled Canadian builders with us that contributed immensely to the construction.

The best activity of the trip for me was the time I spent playing and interacting with the kids and Dominican people.  I truly believe that not only did they receive the beginnings of a great community centre, we touched the hearts of each other in many ways.  The construction week was topped off by a wonderful concert performance put on by the Dominican children at our resort, just for us!  The neatest thing that happened is that one of the older Domincan boys was recruited by the resort to join their evening entertainment program.  A paid position! 

 This was one of the most challenging and rewarding things I’ve ever done.  As expected, we were only able to build the first floor, however, I plan to keep in touch with my new friends down south to watch the project grow to completion.  You can visit http://dovemissions.org/ for more info on the great work that Dove Mission is doing for the people of Dominican Republic. Perhaps even sponsor a kid in need!  For more info on Builders for Change visit http://www.buildersforchange.com/

 For more info and pictures, please visit my Facebook Page

 https://www.facebook.com/BarrieMortgageLocators?ref=hl

 

 

10 Feb

Interest Rate Reductions. NDLC Sweepstakes. Mortgage Market update February 8, 2014

General

Posted by: Anne Martin

 



 


Anne Martin
Mortgage Agent | FSCO # M10002257

705-720-1001
1-800-500-1841 
 
anne@ndlc.ca | www.barriemortgagelocators.com

39 Collier Street, Ste 300 Barrie ON L4M 1G5

  

  Neighbourhood Dominion Lending Centres |  FSCO 11764  Independently Owned & Operated

Friday, February 7, 2014
Market Update

While the news of sub 3% 5 year mortgage money has resurfaced after almost a year absence, it may not last long. More importantly, conditions apply to get this type of rate which make it unattractive to most consumers, Caution and knowledge of the right questions are extremely important here.

5 year rates in the 3.09-3.39% are much more common, but the lower ones still have shorter closing dates required. 

Bond rate the past few days have inched upwards by 10 basis points. This will likely stop any further downward trend, at least for the short term.

Variable rate mortgages are ranging from 2.45-2.65%.

If your mortgage is renewing in the next 6 months or you are thinking of refinancing, we strongly recommend you start the process now.

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.   
 

Please 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 Bank of Canada meeting is on March 4th.

P.S. If you, your family, or co-workers require guidance on current market trends, please call me, I’m always available to help.

…Anne

RRSP or TFSA: Which one do you want fighting in your corner?

Melissa Leong | February 4, 2014 | Last Updated: Feb 4 2:14 PM ET

Selecting your savings vehicle can be a lot like choosing a player character in a fighting video game.

To win big, you need to understand the strengths and weaknesses of your choice. You need to know how to use the powers to your advantage and have a strategy, rather than make random moves in hopes of seeing your numbers rise.

Take saving for retirement — which should you choose to kick financial ass: the RRSP or the TFSA?

Read More


 Historical Interest Rate Graphs   

Below you will find a feature which will give you current interest rate trends. It  can also be accessed on our web site. I hope you and your clients find it useful

Click here to  access rate graphs 


My Commitment to You 

  • Constant update of Market Conditions
  • Innovative Mortgage Products
  • Value Added Services
  • Unbiased Advice
  • Innovative Mortgage Strategies and NOT just Order Taking