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rates: 10 WAYS TO PROTECT YOUR CREDIT CARDS - 09/28/07 12:13 PM
You may think these ten rules are unnecessary. But if you ignore them, you make it easy for the wrong people to use your cards.
Never leave your cards unattended at work. There are more credit card thefts in the workplace than in any other single location. If your credit card is programmed to access an Automated Banking Machine (ABM), protect your Personal Identification Number (PIN) or security code. Don't write it down, memorize it. Don't leave your credit cards in your vehicle. A very high proportion of credit cards are stolen from motor vehicles. Always check your card when returned to … (4 comments)
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rates: Could your R.E. market benefit from the strongest dollar in almost 30 years? - 06/04/07 07:52 AM
What other American markets could benefit from the strongest Canadian dollar in almost 30 years?
Canadians start to put that high loonie to workDramatic run-up in the dollar means business can now look for bargains
Mark Zilbert, a former Montrealer who now runs a real estate agency selling million-dollar condos in Miami Beach, is quite content that the U.S. dollar is tanking against the loonie.
He says the amount of business he's doing with Canadian clients is up about 20 per cent over the past six months.
"There's always a number of factors that influence the spurts in business that we see......
READ MORE>>>>
… (0 comments)
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rates: Bank of Canada Announcement - 05/29/07 02:08 PM
OTTAWA- The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 4 1/2 per cent.Information received since the April Monetary Policy Report Update (MPRU) indicates that economic growth and inflation in Canada in the first part of this year have been stronger than the Bank was expecting. In April, both total CPI inflation, at 2.2 per cent, and core inflation, at 2.5 per cent, were above expectations. On the basis of available information, the Canadian … (0 comments)
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rates: “Subject to sale” clause requires a reality check - 05/29/07 06:22 AM
It's been a ball, hasn't it? The real estate market has been so hot for so long, we can hardly believe what houses are selling for these days. Everyone's got a story about a friend or neighbour who got some fantastic price for a home. However there are some down sides to an up market. Among other things, buyers and sellers with stars in their eyes don't always act rationally. We all want to believe that we can strike a big win in a hot real estate market. And sometimes we do. But when we pin those hopes to a ‘subject … (2 comments)
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rates: Stability in the Money Market - 05/03/07 11:19 AM
Here is some historical data on the Canadian Prime Rate I thought you'd find interesting.If the Prime Rate remains the same for the next two weeks, it will have been 6.00% for a full year. The last change was May 17th, 2006.The Prime Rate has not been that stable (over a 12 month period) for 34 years, not since April 1973.Other periods of note where the Prime Rate has been stable for periods of up to 11 months.1983 - 1984 Rate - 11.0%1989 - 1990 Rate - 13.5%1996 - 1997 Rate - 4.75%2004 - 2005 Rate - 4.25%
The record, which is in very little threat of ever being … (1 comments)
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rates: Changes to Federal Legislation affecting High-Ratio Mortgages - 04/30/07 03:13 PM
Recent federal legislation has increased the maximum loan to value ratio under which conventional lending can be done in Canada without a requirement for mortgage insurance.
An amendment to the Canadian Bank Act came into effect on April 20, 2007, which increases the threshold for mandatory mortgage default insurance on residential real estate secured loans to 80% loan-to-value ratio (LTV) from 75% LTV. Mortgage default insurance in the 75.1% to 80% range is no longer required by Law.
Why is this great news? It makes home ownership more accessible as the purchaser will no longer have to work to build up a 25% … (1 comments)
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rates: Bank of Canada keeps target for the overnight rate at 4 1/4 per cent - 04/24/07 11:12 AM
For Immediate Release: OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 4 1/2 per cent.
Growth of the Canadian economy has been essentially in line with the Bank's expectations as set out in the January Monetary Policy Report Update. But inflation has been higher than expected. Pressures on capacity over the past year have been stronger than previously judged. Also, food and gasoline prices have recently risen more than expected. After considering the full … (0 comments)
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rates: Spring-cleaning could save you thousands - 04/02/07 06:32 AM
Wouldn't spring-cleaning be so much more gratifying if - somewhere under dusty barbecue parts and outgrown hockey skates - you found an envelope with, say, $5000 in cash? Wouldn't that make spring-cleaning worthwhile? Of course it would!
Well, you may not uncover a financial windfall when you're cleaning the garage this spring, but a little time and attention to the task of spring-cleaning your financial house can be very rewarding. This spring, dust away the cobwebs and take a hard look at your debt servicing costs.
Are you continuously carrying a large monthly balance on your credit card? Or are you making regular … (0 comments)
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rates: Home free – Six ways to pay your mortgage down faster - 03/27/07 11:54 AM
It's smart to speed up the process. If you have a 25-year mortgage for $300,000 at an average rate of 5.75 per cent, you'll pay $262,500 in interest. Here are six ways to pay off your mortgage in record time.
1. Buy what you can affordEven if you're pre-approved for a big mortgage, look for a less expensive home. You'll save on interest and won't have to rely on your line of credit to make ends meet. Never let your combined debts (mortgage, car loan, student loan, credit cards, etc.) exceed 40 per cent of your gross income.
2. Get a … (1 comments)
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rates: Canada's mortgage market "picture of health" - 03/19/07 09:07 AM
Canada News Wire TORONTO - In a bid to stave off concerns, a Canadian mortgage industry association called the domestic mortgage market "a picture of health," compared with the United States, where default rates have jumped in the higher-risk subprime mortgage segment and forced some U.S. lenders out of business.
As world financial markets monitor the U.S. subprime slide for possible ripple effects, the Canadian Association of Accredited Mortgage Professionals took pains yesterday to point out differences in the two markets.
It said the subprime market makes up 5% or less of all outstanding mortgages in Canada, versus about 20% in the United … (0 comments)
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rates: More Canadians purchasing second homes - 03/13/07 07:55 AM
More Canadians than ever are purchasing second homes. No longer the purview of the wealthy, second home ownership has gone mainstream. For many Canadians, it's the dream of a summer cottage, golf retreat or a winter chalet. For others, career or family demands fuel the desire for a second home: for business stays, or to shelter the university student studying in a distant community.
Now that the Canada Mortgage and Housing Corporation (CMHC) has introduced a Second Home program - helping Canadians borrow up to 95% of the home's value - the purchase of a second home is easier than ever. And … (3 comments)
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rates: Using Your Mortgage to Lower Your Debt - 03/09/07 07:39 AM
"Where the heck does it all go?" You're looking at your T4 slip from last year... or maybe your most recent pay stub. Sure, many people wish that those numbers after the dollar sign were a little higher, but it's the vanishing act that alarms you most. Tax time is especially sobering; you can see how much money you made... but your credit card is still maxed out and you don't have much to show for a year's income.
If you're looking for the holes in your wallet, start by making a list of your debts. Are your credit cards teetering at … (0 comments)
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rates: Renovation Nation: Canadians use their home equity to feather their nests - 03/06/07 09:25 AM
More than a decade ago, trend spotters began to tell us about the future trend of "cocooning". They predicted that decorating magazines, home renovation businesses and luxury home fashions and furnishings would see a big boom. But in 1991, we continued to look outside the home for our entertainment, and the idea of nesting at home seemed unlikely.
But the futurists were right, and Canadians have come home en masse: to work, to play, to socialize and to retreat. Not surprisingly, they are re-shaping their homes to accommodate their new passion for home life. Canada has become the renovation nation, with more … (0 comments)
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rates: 100% Mortgage Program just got better…..fully discounted rates! - 02/26/07 01:40 PM
Mortgage Intelligence is pleased to announce that in co-operation with Genworth Financial together with Canada's Premier Lending Institutions, the introduction of the 100% Mortgage Program, at fully discounted rates.
Similar programs are currently being offered at the Bank Posted Rates of up to 7.44%* where this new program clients can qualify for discount rates as much as 1.65% off posted rates.*
1. Eligible Properties:
New or existing propertiesOwner Occupied Primary residencesMaximum 2 unit duplexes2. Maximum Loan to Value Ratio:
100% of the property lending value insured by Genworth Financial. Insurance premium can be capitalized into the mortgage.3. Acceptable Loan Purpose:
Purchase Transactions onlyPurchase … (0 comments)
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David Yeoman
Barrie,
ON
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Mortgage Intelligence Inc. (David Yeoman)
Office Phone: (877) 725-7757
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