31 Dec

Consumers Home Digest, monthly mortgage news. December 22, 2014

General

Posted by: Anne Martin

 

HAPPY HOLIDAYS

May the magic and wonder of the holiday season stay with you throughout the coming year. Best wishes for a new year filled with health, happiness and spectacular success!


 


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… 


Lenders make a lot more money when they renew your mortgage than on your initial term. That’s partly because they don’t have to compensate anyone for referring your business (or compensate them as much). But it’s also because many renewers don’t comparison shop as much or negotiate as hard. According to a recent Maritz/CAAMP survey, only 56% of borrowers negotiated their mortgage rate at renewal. A remarkable four in 10 took the first rate their bank offered. That’s a scary statistic considering banks rarely, if ever, offer their lowest rate upfront regardless of how long you’ve been a customer! That’s why it’s so important to rely on your mortgage broker at renewal as well.

HOMEOWNER TIPS

Reduce Heating Costs:

Your furnace or boiler is the largest energy user in most homes. If health permits, keep thermostat at 20°C or below. Lower the thermostat at night and when no one’s home. Check the furnace filter once a month during the heating season. Change or clean when dirty. Have a professional tune-up of your heating system every other year. Replace your older, 60% efficient furnace with one of at least 90% efficiency.

Welcome to the December issue of Home Digest

This month’s edition looks at the benefits of refinancing, as well as talks about the value of creating sustainable neighbourhoods. 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 $25,000 Winners 

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 December 1st, 2015 at midnight EST.

Contest Rules and Regulations

There are numerous reasons why homeowners choose to refinance their mortgages – everything from debt consolidation to freeing up money for their child’s education to using their home equity to buy another property. But the most popular reason for refinancing at this time of year is for holiday gift buying and entertainment.

Planning ahead really can save you money down the road. And with the high-cost holiday gift-buying and entertaining season quickly approaching, this may be the perfect time to refinance your mortgage and free up some money instead of relying on high-interest unsecured credit such as credit cards and lines of credit.

You may find that taking equity out of your home will help bring joy back into your holiday season – and start the New Year off on a debt-free note, as you may also be able to use some of the equity in your home to pay off high-interest debt such as your credit card and/or line of credit balances. This will enable you to put more money in your bank account each month.

And since interest rates continue to hover near historic lows, switching to a lower rate may save you a lot of money – possibly thousands of dollars per year.

There are penalties for paying your mortgage loan out prior to renewal, but these could be offset by the lower rates and extra money you could acquire through a refinance. I can sit down with you and work through all of the equations to ensure this is the right move for you.
    
With access to more money, you’ll be better able to manage both your holiday spending and existing debt.

Paying your mortgage down faster

By refinancing, you may extend the time it will take to pay off your mortgage, but there are many ways to pay down your mortgage sooner to save you thousands of dollars in interest payments. Most mortgage products, for instance, include prepayment privileges that enable you to pay up to 20% of the principal (the true value of your mortgage minus the interest payments) per calendar year. This will also help reduce your amortization period (the length of your mortgage), which, in turn, saves you money.

You can also increase the frequency of your mortgage payments by opting for accelerated bi-weekly payments. Not to be confused with semi-monthly mortgage payments (24 payments per year), accelerated bi-weekly mortgage payments (26 payments per year) will not only pay your mortgage off quicker, but it’s guaranteed to save you a significant amount of money over the term of your mortgage.

By refinancing now – before the holiday season is in full swing – and planning ahead, you can put yourself and your family in a better financial position.

As always, if you have any questions about refinancing, reducing debt or paying down your mortgage quicker, I’m here to help!

A neighbourhood with sustainable features is one that meets your needs while protecting the environment and leaving an affordable legacy. This type of neighbourhood offers homes that are located near shops, schools, recreation, work and other daily destinations. Like a village, these places are a pleasant, convenient and safe walk, cycle or bus ride from home. This helps you reduce driving costs and enjoy the health benefits of walking and cycling. Land and services, like roads, are used efficiently. Old or new, they also feature a choice of homes that you can afford.

Did you know…

  • The Heart and Stroke Foundation of Canada recommends at least 30 minutes of exercise every day, like walking or biking, to reduce the risk of obesity, heart disease and stroke. Where homes are within walking distance of stores and other services, people are 2.4 times more likely to meet the 30-minute minimum than those in homes that are not within a convenient or pleasant walk to stores/services.
  • The average annual cost to own and operate a car in Canada is $9,000+. If you can eliminate the need for a second car, drive less or avoid having a car at all, that’s money in your pocket.
  • A two-storey detached home loses 20% more heat than a semi-detached one, and 50% more than a middle home in a row of townhouses of the same size with the same heating system, insulation and windows.
  • Trees shading your house can make it feel cooler in the summer. Healthy trees also increase your property value. They intercept rainwater, improve air quality, and make streets and public spaces more comfortable and attractive.
  • Asphalt surfaces, like parking lots, can make urban areas hotter than the surrounding countryside in the summer. With less asphalt surface, neighbourhoods are more attractive and land-efficient. In mixed-use neighbourhoods, fewer parking spots are needed because places with high daytime needs, like offices, are close enough to share parking with places that need more parking at night, like homes and restaurants.
  • Cars are a major source of smog in urban areas, so driving less helps everyone’s health, particularly children, the elderly and people at risk for cardio respiratory problems.
  • Half of the greenhouse gases from energy use by individual Canadians comes from passenger road transportation, like cars. In the Toronto area, greenhouse gases from weekday passenger travel generated by people living in mixed-use, pedestrian and transit-friendly neighbourhoods near the urban core are about 1/3 of those by people living in dispersed, strictly residential neighbourhoods on the urban fringe.

How do real neighbourhoods compare?

A CMHC study compares six types of neighbourhoods in five Canadian cities to determine:

  • How close the homes are to schools, jobs and other daily destinations, so people can choose how to get there (for example by walking, biking or using public transit)
  • If people get by with fewer cars or drive less, which can save money
  • Monthly costs to rent or own a home
  • How many rooms homes include
  • If people reduce greenhouse gas emissions by driving less
  • If there is a range of housing choices available, so people can remain in the neighbourhood as their needs change
  • Select the city that interests you:VancouverCalgaryTorontoOttawa;Montréal
19 Dec

Bank of Canada next move on interest rates might be a cut! Mortgage Market Update. December 19, 2014

General

Posted by: Anne Martin

 

Today at 3:10 PM
15 Dec

Bank of Canada maintains overnight rate. Mortgage Market Update December 12, 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, December 12, 2014

CONGRATULATIONS !
to the $25,000 Winners 

Click to find out who won – Was it You?

Market Update

Bonds have continued to stay at record lows due to the current volatility in the global stock markets and oil prices.  

5 year fixed rates remain in the 2.94%-3.09% range. 

Variable rates are in the 2.4%-2.6% range.

Last week the Bank of Canada left interest rates unchanged

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 meeting with the Bank of Canada is January 21, 2015

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

Ottawa, Ontario
3 December 2014

 
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.

Inflation has risen by more than expected. The increase in inflation over the past year is largely due to the temporary effects of a lower Canadian dollar and some sector-specific factors, notably telecommunications and meat prices. Underlying inflation has edged up but remains below 2 per cent.

The U.S. economy has clearly strengthened, particularly business investment, which has benefitted Canada’s exports. Growth in the rest of the world, in contrast, continues to disappoint, leading authorities in some regions to deploy further policy stimulus. Oil prices have continued to fall, due to both supply and demand developments. In this context, global financial conditions have eased further.

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 December 1st, 2015 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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15 Dec

Congratulations 2014 $25,000 Contest Winners!

General

Posted by: Anne Martin

 

 

CONGRATULATIONS !
to our $25,000 Winners

Click to find out who won – Was it You?

For your chance to win $25,000:
 

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 each receive an entry ballot! 
The more referrals you send, the better your chances of winning!
    
• Four (4) prize draws of $1000.00 for the borrowers, and (4) prize draws of  $1000.00  for  the referral source.

    • One (1) Grand Prize of $12,500 for the borrower and one (1) Grand Prize of $12,500 for the referral source. 

We will have 8 draws for $1000 throughout the year, 
and one (10 Grand Prize of $12,500 for the borrower and one (1) Grand Prize of $12,500 for the referral source. ( You could win both Grand Prizes)

Contest closes December 1st, 2015 at midnight EST.
 

Contest Rules and Regulations



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