18 Nov

Monthly Mortgage & Home News. November 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
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 today for 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 Visa Travel Gold program is as good – or better – than any other current Canadian offering! There are no 14-day advance booking notices required and no blackout periods. Plus, 1% of purchases are credited as BONUSDOLLARS – and this reward jumps to 2% for purchases made in foreign currencies.

HOMEOWNER TIPS

5 reusable tips for getting rid of clutter 
– Globe and Mail

They clutter up your kitchen, hog your closets and collect in your entryway. Just about everyone has too many of something. And the things we hoard are surprisingly predictable. Forget heirlooms and sentimental tchotchkes, it’s the utilitarian items that overrun our homes.

“We hold onto things because they seem to have a purpose, whether it’s recipes we’ve clipped or little jewellery boxes,” says Susan Borax of Good Riddance, a professional organizing firm in Vancouver. “We don’t realize that there’s a statute of limitations on how useful something can be.”

Need some breathing room? Chances are, you’ve got more of these than you need:

Reusable shopping bags

“I always forget them and end up buying new ones,” says Carrie Macmillan, a student at Ryerson University in Toronto. “I have enough for an unreasonable amount of groceries.” Too much of a good thing is, well, not good. “People forget about the first part of reduce, reuse, recycle,” says Emily Alfred, a waste campaigner with the Toronto Environmental Alliance. Instead of squirrelling them away, drop a few bags off at a food bank or thrift store. Always keep one on you and a few in your car, so you won’t feel tempted to buy more at the checkout counter.

Plastic containers

Your cupboards are probably riddled with orphan lids and semi-disposable plastic takeout containers. Give up the hope of reuniting each piece with its long-lost mate – keep one set of each size and recycle the rest, or just use regular bowls with reusable stretch-to-fit silicone lids.

Umbrellas

You have several of the el cheapo variety sitting forlornly by your front door, and yet you never seem to have an umbrella when there is a downpour. Invest in a tiny purse-sized one to carry with you at all times, or do your best impression of a born-and-bred West Coaster: In a drizzle, they just pull up their hoods and carry on.

Clothes hangers

Go Joan Crawford on your closet and round up all the wire hangers. Some (but not all) dry cleaners will take them back, so you will have to ask around. Better yet, replace your mishmash of plastic and wood hangers with matching slim flocked ones. When they are all the same size, you will find closet space you never knew you had.

Luggage

Ms. Borax sees a lot of clients who can’t part with old suitcases, even if they have broken wheels and straps. “They have this idea that some day they’ll have time to fix them,” she says. Don’t bother. They make excellent under-the-bed storage containers.

INSPIRATION

“You only live once, 
but if you do it right, 
once is enough.”


~Mae West

Welcome to the November issue of Home Digest

This month’s edition discusses the importance of mortgage portability, as well as offers tips on how to save energy and water in your home. Please let me know if you have any questions or feedback regarding anything outlined below.

Thanks again for your continued support and referrals!



Anne

CONGRATULATIONS !
to the 4th winner
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

Selling your current home and moving into a new one can be stressful enough, let alone worrying about your current mortgage and whether you’re able to carry it over to your new home.

Porting enables you to move to another property without having to lose your existing interest rate, mortgage balance and term. And, better yet, the ability to port also saves you money by avoiding early discharge penalties.

It’s important to note, however, that not all mortgages are portable. When it comes to fixed-rate mortgage products, you 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 interest rate.

With variable-rate mortgages, on the other hand, porting is usually not available. As such, upon breaking your existing mortgage, a three-month interest penalty will be charged. This charge may or may not be reimbursed with your new mortgage.
    
Porting conditions
While porting typically ensures no penalty will be charged when you sell your existing property and buy a new one, some conditions that may apply include:

  • Some lenders allow you to port your mortgage, but your sale and purchase have to happen on the same day. Other lenders offer a week to do this, some a month, and others up to three months.
  • Some lenders don’t allow a changed term or force you into a longer term as part of agreeing to port your mortgage.
  • Some lenders will, in fact, reimburse your entire penalty whether you’re a fixed or variable borrower if you simply get a new mortgage with the same lender – replacing the one being discharged. Additionally, some lenders will even allow you to move into a brand new term of your choice and start fresh.
  • There are instances where it’s better to pay a penalty at the time of selling and get into a new term at a brand new rate that could save back your penalty over the course of the new term.


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

Many Canadians are looking for ways to save money and the environment by conserving water and energy consumed within their households. The green housing section of Canada Mortgage and Housing Corporation’s (CMHC) website is a great reference for tips on ways you can make your home greener.

Among the valuable and reliable content, this section is filled with videos that cover a wide variety of eco-friendly housing topics. They provide helpful tips and practical information on sustainable housing practices and technologies.
    
The videos can be accessed directly through the link above or via CMHC’s YouTube channel.

The green housing section of the website also includes helpful information related to:

  • Saving Energy at Home
  • Saving Water at Home
  • Healthy Indoor Environment
  • Building and Renovating
  • Energy Efficiency Building Envelope Retrofits
10 Nov

Bank of Canada Commentary and Monetary Policy Review. Mortgage Market Update Nov. 7, 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

The FREE Dominion Lending Centres Hockey Pool is back!

Registration is open and continues throughout the regular season for your chance to win $100,000 along with weekly cash prizes and random draws.

NO PURCHASE NECESSARY. Contest is open to residents of Canada (excluding Quebec) who have reached the age of majority within the province or territory in which they reside. Contest begins on or about September 10, 2014 and ends on or about April 11, 2015. See Official Rules at dominionhockey.ca for additional eligibility restrictions, prize  descriptions / restrictions / ARVs and complete details. Void where prohibited by law.

Friday, October 31, 2014

CONGRATULATIONS !
to the 4th winner
of $1000

Click to find out who won – Was it You?

Market Update


Rates remained unchanged last week.

5 year fixed range in the 2.74-2.99% with most lenders. 

Variable rates are in the 2.25-2.5% range.

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 December 3, 2014

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 Commentary and Monetary Policy Review

MCAP Mortgage News
Nigel Aplin | Oct 27, 2014

 
Staff at the Bank of Canada undoubtedly logged some long hours helping to prepare both the Governor’s remarks and the Monetary Policy Review (MPR) document last week in the wake of the gyrations in the world’s financial and commodity markets over the previous two weeks. As the price of oil plunged, along with share prices on stock markets around the world, the impact on the Canadian economy was being feverishly analyzed. 

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

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