30 Jan

Why the banks aren’t passing on the full rate cut to mortgage buyers. Mortgage market update Jan. 30, 2015

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, January 30, 2015
Market Update

Exciting times regarding record low cost of fixed rate money. The bond rate has continued to stay at extremely low levels.  We are seeing many lenders adjusting fixed mortgage rates almost daily.

Currently 5 year fixed rates are running in the 2.75-2.89% range. 

The major banks finally lowered their bank Prime to 2.85%(a .15% reduction). This less than normal drop has not been seen before. It has always been matched with the Bank of Canada

Adjustment. Variable rate mortgages are now in the 2.15-2.35% range.

Next meeting with the Bank of Canada is March 4th, 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

 

Why banks aren’t passing on the full rate cut to mortgage buyers

Financial Post | David Pett | January 28, 2015

 
The decision by Canada’s major banks to reduce prime lending rates on Tuesday, but not fully match the Bank of Canada’s surprise rate cut last week is a compromise that tries to balance the margin pressures associated with even lower interest rates and the threat those reduced rates have on already elevated Canadian housing prices, says Robert Sedran, analyst at CIBC World Markets.

Read More…

 


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


 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

To continue receiving electronic communications, 
please Confirm your Subscription.  

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22 Jan

Bank of Canada lowers overnight rate target to 3/4 percent.

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.

Thursday, January 22, 2015
Market Update

The Bank of Canada announcement caught the global markets totally off guard yesterday.  The surprise, so far, is that none of the major banks or our mortgage lenders have lowered their trending setting rate from the 3% level. Meaning that variable rate mortgages have not dropped yet. We do expect this will play itself out over the next week or so.

The 2nd article from CBC news speaks directly to this issue. This is a major change from historical patterns and certainly will be generating a huge amount of front page news as this unfolds.

Bond rates continue to tumble due to the global uncertainty, with oil being one of the main reasons. They are now at the lowest we have seen in recent history!

5 year fixed rates are poised to drop 5-15 basis points, but so far, we have only seen some marginal drops by a few lenders. 2.84-2.99% are quite common now

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 lowers overnight rate target to 3/4 per cent

Ottawa, Ontario – 21 January 2015

 
The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent. This decision is in response to the recent sharp drop in oil prices, which will be negative for growth and underlying inflation in Canada.

Inflation has remained close to the 2 per cent target in recent quarters. Core inflation has been temporarily boosted by sector-specific factors and the pass-through effects of the lower Canadian dollar, which are offsetting disinflationary pressures from slack in the economy and competition in the retail sector. Total CPI inflation is starting to reflect the fall in oil prices.

Read More…

 


Bank of Canada interest rate cut: At least 1 bank won’t lend for less

By Solomon Israel, CBC News Posted: Jan 22, 2015 1:29 PM ET

 
Overnight rate cut by Bank of Canada usually matched by decrease in prime lending rate.

Canadians have been left wondering whether they’ll enjoy lower rates on mortgages and other loans in the aftermath of a surprise interest rate cut by the Bank of Canada on Wednesday,

Canada’s five biggest banks are deciding whether to cut their prime lending rate, which affects the interest on some mortgages, lines of credit and other financial products.

Read More…

 


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


 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

To continue receiving electronic communications, 
please Confirm your Subscription.  

Please click here if you wish to Unsubscribe Now

 

12 Jan

U.S. forges ahead with plan to raise rates. Mortgage Market Update Jan. 9, 2015

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, January 9, 2015

CONGRATULATIONS !
to the $25,000 Winners 

Click to find out who won – Was it You?

Market Update

Bond rates are at their lowest point in the last 12 months.

5 year fixed rate funds remain in the 2.85-3.09% range. 

Variable rates are in the 2.3-2.5% 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 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

 

U.S. Fed officials forged ahead with plan to raise rates despite guidance debate

Howard Schneider and Michael Flaherty, Reuters | January 7, 2015

 
WASHINGTON — The U.S. Federal Reserve pressed ahead at its last policy-setting meeting with plans to begin raising interest rates later this year despite an apparently vigorous debate over how to communicate its intentions.

According to minutes of the Fed’s Dec. 16-17 meeting, released on Wednesday, U.S. central bankers reviewed a broad set of data showing the United States was holding its own as other parts of the global economy turned in the wrong direction.

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

To continue receiving electronic communications, 
please Confirm your Subscription.  

Please click here if you wish to Unsubscribe Now