Month: June 2014

6 Jun

Bank of Canada Update. No changes. June 5, 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

Thursday, June 5, 2014
Market Update

As predicted there were not any changes in the Bank of Canada announcement today. A summary can be found below.

Summary:

  • “Global economic expansion is expected to strengthen over the next three years as headwinds that have been restraining activity dissipate”
  • Overall global economic growth has been slow
  • Global bond yields have continued to decline- this is good news for long term rates
  • Our Canadian economy grew modestly in the first quarter.


Next announcement is scheduled for July 16th 

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

Bank of Canada maintains overnight rate target at 1 per cent

04 June 2014
Contact: Media Relations 613 782-8782

OTTAWA — 


The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Total CPI inflation has moved up to around the 2 per cent target, sooner than anticipated in the Bank’s April Monetary Policy Report (MPR), largely due to the temporary effects of higher energy prices and exchange rate pass-through. Core inflation remains significantly below 2 per cent although it has drifted up slightly, partly owing to past exchange rate movements.

Global economic growth in the first quarter of 2014 was weaker than anticipated in the MPR and recent developments give slightly greater weight to downside risks. The U.S. economy is rebounding after a pause in the first quarter, but there could be slightly less underlying momentum than previously expected. Globally, long-term bond yields have continued their decline, reflecting in part growing market anticipation that interest rates will remain low over the long term. This, along with buoyant stock markets and tight credit spreads, indicates that financial conditions remain very stimulative.

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 


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
2 Jun

Rising real estate price and low interest rates keep Canadian household upbeat. Mortgage Market Update May 30, 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 30, 2014

CONGRATULATIONS !
to the 2nd winners
of $1000

Click to find out who won – Was it You?

Market Update

Bond rates have continued to inch downwards. The results of this are being reflected in continued low mortgage rates.

5 year funds are running in the 2.95-3.09% range. Variable rate mortgages are in the 2.35-2.6% range.

The Bank of Canada meets next Wednesday and no changes to Bank Prime(3%)are expected at this time.

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

 

Rising real estate prices and low interest rates keep Canadian households upbeat

Bloomberg News | May 20, 2014 | Last Updated: May 20 12:01 PM ET 

The share of Canadians who are predicting higher home prices in their neighborhood remained above 40% for a fifth week in the latest weekly polling by Bloomberg and Nanos Research. That’s kept consumer confidence levels at near the highest in four years, the data show.

Improving views on housing follow a recent acceleration in the real estate market in recent months that reflects a shift by policy makers at the Bank of Canada to dim expectations for rate increases as it plays down concerns over rising household debt to focus on stimulating the economy.

Read More

 


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