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Friday, 25 January 2013

Mortgage Reduction Resolutions

 

As a homeowner, one of your New Year's resolutions may include a goal to stabilize your financial position in 2013. Why not take the first step toward fulfilling that goal by calling your mortgage broker to review the status of your current mortgage, and see how you can best plan for the future?
PhotoDespite regional ups and downs, the forecast for Canada's real estate market is still positive. Interest rates continue to remain at historically low levels, and in fact have fallen by half since 2007. While it's easy to get caught up with the excitement of lower rates today than what you might have been paying a few years ago, remember that you can make the most of today's conditions by finding out how you may be able to capitalize on the lower rates to pay off your home sooner.
Do you qualify for a lower mortgage rate than what you are currently paying? If so, consider keeping your payments the same, even though a lower interest rate would lower your monthly obligation. This will result in more money being directed toward your principal, a shorter term, and substantially less interest paid by the end of your term.
Please call today for a no-obligation update an FREE Consultation on the newest mortgage products, and a discussion on the best options available to finance your home in today's exciting and ever-changing real estate market.
by your realtor Bryon Howard

Wednesday, 23 January 2013

No rate hikes for a while

+FREE advice
By Jemima Codrington
In a move anticipated by most analysts, The Bank of Canada announced today that the overnight rate will remain at 1 per cent target, suggesting it – along with variable rates -- won’t rise anytime soon.
The Bank cited “weaker business investment and exports” as a one reason the rate remained the same, along with a pullback in household spending, the European recession, slow but gradual recovery in the U.S and muted inflation. Read the article here...
When you need a mortgage, you need a pro; +MortgagePRO