via residences.to
Latest interest rates courtesy of Dan Wowk and ZoomMortgage.ca
Monday, December 13, 2010
Wednesday, December 8, 2010
Bank of Canada maintains overnight rate target
FOR IMMEDIATE RELEASE
7 December 2010CONTACT: Jeremy Harrison
613 782-8782Bank of Canada maintains overnight rate target at 1 per cent
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.
The global economic recovery is proceeding largely as expected, although risks have increased. As anticipated, private domestic demand in the United States is picking up slowly, while growth in emerging-market economies has begun to ease to a more sustainable, but still robust, pace. In Europe, recent data have been consistent with a modest recovery. At the same time, there is an increased risk that sovereign debt concerns in several countries could trigger renewed strains in global financial markets.
The recovery in Canada is proceeding at a moderate pace, although economic activity in the second half of 2010 appears slightly weaker than the Bank projected in its October Monetary Policy Report. In the third quarter, household spending was stronger than the Bank had anticipated and growth in business investment was robust. However, net exports were weaker than projected and continued to exert a significant drag on growth. This underlines a previously-identified risk that a combination of disappointing productivity performance and persistent strength in the Canadian dollar could dampen the expected recovery of net exports.
Inflation dynamics in Canada have been broadly in line with the Bank's expectations and the underlying pressures affecting prices remain largely unchanged.
Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate at 1 per cent. This leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in an environment of significant excess supply in Canada. Any further reduction in monetary policy stimulus would need to be carefully considered.
Information note:
The next scheduled date for announcing the overnight rate target is 18 January 2011. A full update of the Bank’s outlook for the economy and inflation, including risks to the projection, will be published in the Monetary Policy Report on 19 January 2011.
via bankofcanada.ca
No rate increase is great news for buyers!
Monday, November 29, 2010
Mike Holmes: Inspections are for sellers
via nationalpost.com
This is one of the best articles ever on why home sellers should order a pre-inspection report.
Wednesday, November 24, 2010
4101 Sheppard E Toronto ON (Sheppard + Kennedy)
New listing:
Beautiful well maintained 2 bedroom condominium apartment in a very convenient location. Close to the 401. TTC and GO train at the door. Walk To Agincourt Mall, library, supermarket. Unobstructed north view. Approximately 850 square feet. Condo fee includes cable TV new tub and toilet 2010.
Orest M. Humeniuk
Sales Representative
RE/MAX 2000 Realty Inc., Brokerage
Sales Representative
RE/MAX 2000 Realty Inc., Brokerage
1480 St. Clair Avenue West, Toronto ON Canada M6E 1C7
Direct: 416-619-7695 | Office: 416-656-3500 | FAX: 416-656-9593 | E-mail: Orest@Humeniuk.org | Web: www.residences.to
Thursday, November 4, 2010
Monday, November 1, 2010
Untitled
I get a lot of questions about deposits. This is a great article!http://ping.fm/KRaAv
via Ping.fm
Saturday, October 30, 2010
Untitled
I get a lot of questions about deposits. This is a great article!http://ping.fm/KRaAv
via Ping.fm
Saturday, October 23, 2010
New listing. 1,100 rooms.
New listing. 1,100 rooms parking for 100 horses. Offers Tuesday.
Schonbrunn Palace, ViennaFriday, October 22, 2010
Thursday, October 21, 2010
Wednesday, October 20, 2010
Tuesday, October 19, 2010
Sunday, October 17, 2010
Friday, October 15, 2010
Thursday, October 14, 2010
ZoomMortgage.ca E-Newsletter
Latest mortgage interest rates and news from Dan Wowk at ZoomMortgage.
-->
2386 LIONSTONE DR. OAKVILLE, Ontario L6M4S9 (905) 847-0100
Quick Links: My Website Apply Online Equifax --> 
CLICK HERE TO UNSUBSCRIBE
Date: Thu, 14 Oct 2010 00:04:34 -0600 (MDT)
To: Orest Humeniuk<sold@residences.to>
ReplyTo: Dan@axiommortgage.ca, Wowk@axiommortgage.ca, MBA@axiommortgage.ca, AMP <dan@zoommortgage.ca>
Subject: ZoomMortgage.ca E-Newsletter
| |||||||
| Current Rates: |
| Terms | The Bank | Our Rates |
|---|---|---|
| 1 Year | 3.30% | 2.44% |
| 2 Years | 3.55% | 2.99% |
| 3 Years | 4.10% | 3.39% |
| 4 Years | 5.04% | 3.49% |
| 5 Years | 5.39% | 3.69% |
| 7 Years | 6.45% | 4.75% |
| 10 Years | 6.60% | 4.95% |
| VIRM | 3.00% | 2.50% |
| The prime rate is 3.00% | ||
| Contact Info: |
FSCO Number:11931
| Why a competitive mortgage insurance market matters |
While the re-emergence of certain private mortgage default insurers might not make it onto the radar of most homeowners, the increased competition could pose to change the types of mortgage products available to them.
Read More| A life preserver for debt drownings |
When it comes to financial priorities, most Canadians say that becoming 'debt-free' is at the top of their list - but in the last year, almost half believe they didn't come any closer to achieving that goal.
| A great home reno resource |
There are a lot of things about home renovations that can be intimidating – finding a reputable contractor, setting a realistic budget, even just finding a physical example of the idea that's in your head.
| A new no-fee chequing account |
Canadians are estimated to spend, on average, as much as $185 per year on banking service fees on their chequing accounts, according to an Angus Reid poll. This is cash ING Direct is hoping to spare its customers with the launch of its new, no-fee, THRiVE chequing account.
Read MoreWhy a competitive mortgage insurance market matters
While the re-emergence of certain private mortgage default insurers might not make it onto the radar of most homeowners, the increased competition could pose to change the types of mortgage products available to them.
Mortgage default insurance - provided, currently, by Canada Mortgage and Housing Corporation, Genworth Financial Canada and Canada Guaranty - is the insurance you are legally required to purchase if you put down less than 20% when purchasing a home. This insurance protects the bank or lender in case you default against your loan - even though the buyer is required to pay the premium.
While this type of insurance has more to do with the lender than the homebuyer, it did affect the types of mortgage products - and the number of approvals - that took place in Canada before the recession hit. For years, Genworth and CMHC were the only two players in the market. When AIG United Guaranty came along (now Canada Guaranty), we saw premiums drop, 40-year mortgages enter the marketplace and the introduction of zero-down loans.
Other U.S.-based mortgage default insurers were waiting in the wings - poised to enter the Canadian market - until the recession hit, and they all fled. AIG suffered its share of troubles too - and it had to deal with the negative connotation associated with its U.S. arm that developed during the banking crisis.
Six months ago, the Ontario Teacher's Pension Plan announced that it would be partnering up with AIG United Guaranty, which promptly changed its name to Canada Guaranty. Since then, the company has been building up strength to become a contender in the tight mortgage default insurance market.
While tightened government restrictions won't allow a 40-year amortization back into the market anytime soon, you have to assume Canada Guaranty has some tricks up its sleeve if it wants to play with the big dogs. In most cases, lenders choose which default insurer they go with and 75% of the time, they opt for CMHC because its insurance is completely backed by the government. The private insurers still have a government guarantee, but it's only 90% of their portfolio.
At the very least, we may see some decreased premiums, which is never a bad thing!
Back to Top
A life preserver for debt drownings
When it comes to financial priorities, most Canadians say that becoming 'debt-free' is at the top of their list - but in the last year, almost half believe they didn't come any closer to achieving that goal.
According to a poll of 1,000 Canadians by Manulife Bank of Canada, most Canadians didn't take advantage of low interest rates and make an extra mortgage payment. About 29% said their debt increased in the past year, and another 17% saw no change in their debt levels.
If you fall into the above group, here are some tips for devising a debt management plan:
1. Figure out how much debt you have.
While it may be painful, the only way to lower your debt level is to know where it stands. Make a list of all the debt you owe - including credit cards, car loans, lines of credit, mortgage debt and student loans.
2. Track and analyze your spending.
For some people, it's easy to pinpoint how they got into debt. For others, it's not as clear. Either way, it's important to spend to track your spending. Bring a notebook out with you for a week and jot down everything you buy - from coffees to clothing purchases. If you're more of a virtual banker, comb through your bank and credit card statements from the past month or two to see where your money is going. Experts say most households waste up to 15% of their take-home income. Find out where that waste is, and determine ways to put it towards your debt.
3. Come up with a plan.
Keeping your current habits in mind, set an achievable spending and debt reduction plan. Prioritize your debt, with credit card debt as the most urgent to pay off, and car loans, mortgage debt and student loans rounding out the bottom of the priority list. The first credit cards you pay off should be the ones with the lowest balance. If possible, see if consolidating your debt - either to one low-interest credit card, or a home equity line of credit - is an option.
4. Focus on one debt at a time.
If possible, see if consolidating your debt - either to one low-interest credit card, or a home equity line of credit - is an option. If it isn't, start making extra payments on the credit card with the lowest balance, while meeting the minimum payments on your other cards. Once the first debt is paid off, take the full amount you were spending on it, and put it towards the next lowest card.
5. Create debt-free habits.
Once your debt is paid off, it's important to start saving. A credit card should not be used if you don't have the money to pay it off at the end of the month. Instead, you should aim to have a significant "cash cushion" to pull from when unforeseen expenses arise.
If your debt is more than you can manage on your own, please feel free to give me a call - and I will refer you to a professional who can help.
Back to Top
A great home reno resource
There are a lot of things about home renovations that can be intimidating – finding a reputable contractor, setting a realistic budget, even just finding a physical example of the idea that's in your head.
HomeRenovationGuide.com can help with at least a few of those things. The Canadian, Rogers-owned site is designed for homeowners and contractors alike, to help them find information and resources for their next home project.
In addition to a useful blog, the site also has a vast array of helpful articles – and "how-to" videos – as well as a "tips from the pros" section, an inspiration section and an opportunity to share your renovation photos. It's worth a look!
Back to Top
A new no-fee chequing account
Canadians are estimated to spend, on average, as much as $185 per year on banking service fees on their chequing accounts, according to an Angus Reid poll. This is cash ING Direct is hoping to spare its customers with the launch of its new, no-fee, THRiVE chequing account.
Up until now, the most popular no-fee chequing account in the country belonged to Presidents' Choice Financial which, similar to ING Direct, is able to save customers money by eliminating full branches from its business structure.
THRiVE Chequing offers many no-cost features such as free ABM access through the 2400-machine Exchange Network, free email alerts and monthly online account statements as well as the ability to write, deposit and view cheques online for no extra charge. THRiVE Chequing also offers Whoops! Protection, an industry-first feature that covers clients up to $250 on overdrawn funds with no fee or interest, provided funds are paid back within 30 days.
The company will slowly roll out the product in the coming weeks and months, with the goal of offering it to all Canadians in January, 2011.
Tuesday, October 12, 2010
Starting a new adventure in Budapest!
Just arrived from Vienna.
Sent from my BlackBerry device on the Rogers Wireless Network
Wednesday, September 29, 2010
Enjoying the RE/MAX Fall Sales rally in Toronto!
Sent from my BlackBerry device on the Rogers Wireless Network
Sunday, September 19, 2010
Beautiful day for an open house --- 2:00 - 5:00 today 922 Willowdale Ave Toronto
Sent from my BlackBerry device on the Rogers Wireless Network
Saturday, August 21, 2010
Who else is at Ukrainian Day?
Centennial Park, Toronto ON
Sent from my BlackBerry device on the Rogers Wireless Network
Thursday, August 12, 2010
Anyone else enjoying this beautiful evening out on Lake Ontario?
Sent from my BlackBerry device on the Rogers Wireless Network
Wednesday, July 21, 2010
So … your real estate agent sent you a link to my web site…
So … your agent sent you a link to my web site.
He told you to search my site to find your new home and call him the second that you find something .
Welcome!
You’re the second one this week.
Well, the second one that admitted it…
Don’t get me wrong. I’m flattered. I’m happy you found my site useful. I’m delighted that you took the trouble to call me with questions your own agent won’t answer for you.
I suppose your agent is far too busy at their day job. Too busy to maintain a web site. Too busy to share current market information with you.
Maybe, he’s too busy to have any market information at all.
Maybe, he’s one of the 20% of Toronto real estate agents that didn’t sell a home last year.
Maybe, that’s why he needs his day job.
One day you will need the services of a professional realtor. And, I would like to be that professional realtor.
So, by all means, bookmark my web site that your agent sent to you and come back as often as you like.
In return, all I ask is that you send your realtor a link to this blog
www.residences.to www.SearchMultipleListings.ca www.EtobicokeRealty.net www.NorthYorkCondominiums.com www.commercial.to
Monday, July 19, 2010
So … your real estate agent sent you a link to my web site.
So … your agent sent you a link to my web site.
He told you to search my site to find your new home and call him the second that you find something .
Welcome!
You're the second one this week.
Well, the second one that admitted it…
Don't get me wrong. I'm flattered. I'm happy you found my site useful. I'm delighted that you took the trouble to call me with questions your own agent won't answer for you.
I suppose your agent is far too busy at their day job. Too busy to maintain a web site. Too busy to share current market information with you.
Maybe, he's too busy to have any market information at all.
Maybe, he's one of the 20% of Toronto real estate agents that didn’t sell a home last year.
Maybe, that's why he needs his day job.
One day you will need the services of a professional realtor. And, I would like to be that professional realtor.
So, by all means, bookmark my web site that your agent sent to you and come back as often as you like.
In return, all I ask is that you send your realtor a link to this blog.
www.residences.to www.SearchMultipleListings.ca www.EtobicokeRealty.net www.NorthYorkCondominiums.com www.commercial.to
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