27 May

Mortgage Market Update May 23, 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, May 23, 2014
Market Update

The bonds have continued to soften this past week. These lower bond rates are causing lenders to make small adjustments to their fixed rate money. 

5 year money has lowered and is now in the 2.89- 3.09% range.

Variable mortgages are in the 2.35-2.6% range.

If your mortgage is renewing in the next 6 months or you are thinking of refinancing, I 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.     
 
Contact me for a free, no obligation review. Spending a few minutes could save you thousands of dollars.

Bank prime is 3.00%

Next Bank of Canada update is June 4th

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

 

CONGRATULATIONS !
to the first winners
of $1000

Click to find out who won – Was it You?


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
22 May

Bond rates have fallen, low rates remain. Mortgage Market Update May 20, 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, May 20, 2014
Market Update

Bonds rates have fallen the past week. Low rates remain the story of the day.

5 year funds are ranging from 2.95- 3.09% range.

Variable mortgages are in the 2.35-2.6% range.

If your mortgage is renewing in the next 6 months or you are thinking of refinancing, I 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.     
 
Contact me for a free, no obligation review. Spending a few minutes could save you thousands of dollars.

Bank prime is 3.00%

Next Bank of Canada update is June 4th

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

 

Home prices showing ‘early signs of accelerating’ 

Tara Perkins – REAL ESTATE REPORTER
The Globe and Mail
Published Wednesday, May. 14 2014, 9:22 AM EDT  


Canadian home prices appear to be picking up a little steam.

The gains come even after a sluggish winter for home sales, and forecasts from a number of economists for price growth to peter out.

Teranet-National Bank’s house price index, which tracks 11 cities, hit an all-time high in April, with prices rising 0.5 per cent from March and 4.9 per cent from a year earlier.

Read More

 


CONGRATULATIONS !
to the first winners
of $1000

Click to find out who won – Was it You?


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 May

Private mortgage insurers opt not to follow CMHC. Mortgage Market Update May 9, 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, May 9, 2014
Market Update

Rates have been stable the last 7 days, no changes at all.  

5 year monies still range in the 2.95% to 3.19% range, with variable rates being from 2.35-2.55% range.

If your mortgage is renewing in the next 6 months or you are thinking of refinancing, I 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.     
 
Contact me for a free, no obligation review. Spending a few minutes could save you thousands of dollars.

Bank prime is 3.00%

Next Bank of Canada update is June 4th

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

 

Private mortgage insurers opt not to match CMHC’s cuts 

Published Friday, May. 02 2014, 3:43 PM EDT 

Canada’s two private-sector mortgage insurers have decided not to match all of Canada Mortgage and Housing Corp.’s recent product cuts.

Genworth MI Canada sent a letter to banks Friday saying that it will not be making any changes to its standards for self-employed borrowers.

Genworth will, however, tighten its rules for second homes slightly. As of May 30, it will only sell second-home mortgage insurance on homes with one unit in them, rather than two (such as duplexes or a self-enclosed apartment in a house).

Read More

 


CONGRATULATIONS !
to the first winners
of $1000

Click to find out who won – Was it You?


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
5 May

CMHC discontinues two mortgage products. Mortgage Market Update May 2, 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, May 2, 2014
Market Update

Bonds have stayed steady the past 7 days. No changes long or short term rates.

5 year rates are in the 2.95-3.19% range. Variable rates are in the 2.4-2.6% range.

CMHC announced 2 changes. These will not effect too many customers. Also, the other 2 insurers, as of today, have not changed their policies in these 2 areas. If you have any questions on these changes, please contact me directly.

If your mortgage is renewing in the next 6 months or you are thinking of refinancing, I 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.     
 
Contact me for a free, no obligation review. Spending a few minutes could save you thousands of dollars.

Bank prime is 3.00%

Next Bank of Canada update is June 4th

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

 

CMHC Discontinues Two Insurance Products Effective May 30, 2014

Apr 28, 2014 

The news came on Friday afternoon – usually a good time to release bad news. But, as CMHC said in its press release, since the insurance products it is discontinuing effective May 30, 2014 account for less than 3% of its business volumes in units, the news should be easily absorbed: “given the limited use of these products, their discontinuation is not expected to have a material impact on the housing market”.

Which insurance products are being discontinued?  The Second Home product and the Self-Employed Without 3rd Party Income Validation product. Self-employed borrowers will still be able to qualify for CMHC mortgage insurance as long as they can validate their income using “traditional methods” – something some will certainly find challenging. The elimination of the Second Home program also means that CMHC insurance is effectively limited to one insured loan per person.  This will apply not only to recreational second properties but to homeowners wanting to purchase another residence to rent or to occupy while renting their existing residence. Parents who may want to acquire (or help by way of sharing ownership) a property for their children may also find themselves unable to do so. 

CMHC describes these changes as part of its changing mandate “to contribute to the stability of the housing market, benefitting all Canadians, while effectively managing and reducing taxpayers’ exposure to risk”. The Corporation is conducting a review of its insurance business to ensure that it is meeting its mandate which also includes contributing to the stability of the housing market and finance system. Friday’s press release goes on to say that “this is the first set of changes resulting from this review”, clearly implying that more changes are coming.

The Second Home program was introduced in 2005 and the Self-Employed Without Traditional 3rd Party Validation program came along in 2007 “in response to industry competition” as CMHC’s Backgrounder explains. Self-employed borrowers will, after May 30th, need to provide Notices of Assessment, audited financial statements or unaudited statements by an independent third party for a two year period. 

It is not yet clear if Genworth or Canada Guarantee will adjust their qualification criteria and/or product offerings in response to these changes announced by CMHC

 


CONGRATULATIONS !
to the first winners
of $1000

Click to find out who won – Was it You?


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