alberta: Lethbridge Mortgage Blog -- Consumers Beware - Your Line of Credit may be Rising
- 02/27/09 06:58 AM
If you happen to hold an unsecure line of credit with a Canadian financial institution, you may be receiving some troublesome news - payments and interest could be on the rise. This increase is not due to the Bank of Canada raising the Prime rate however. Several of the major financial institutions in Canada are concerned that their earnings may be affected by the historically low interest rates that exist in the marketplace at present and are taking it upon themselves to change things, by increasing their own rates. TD Canada Trust sent out a wave of letters to customers that … (4 comments)
alberta: Interest Rates Dropping again
- 01/19/09 12:54 AM
According to globeandmail.com, Bank of Canada is preparing to decrease its key interest rate this week in order to provide stimulus to the economy. With unemployment on the rise and inflation quickly diminishing, economists widely expect the Bank of Canada to cut its key rate by half a percentage point tomorrow. Market analysts will then pore over the central bank's new economic outlook, to be released Thursday, for clues about whether the B of C will take rates even lower, perhaps even to zero. Note: An adjustment to the Bank of Canada key interest rate will affect variable /adjustable rate mortgage products … (0 comments)
alberta: Canadian Govt considering offering tax credit for home renovations
- 01/15/09 04:07 AM
Interesting news today that the Harper government has been floating the idea of a tax credit for home renovations. The thinking is this type of incentive could provide a significant stimulus for Canada's floundering residential construction industry. The idea also could serve as a significant boost to the much needed lumber and forestry sectors that have experienced major declines in demand since the US housing crisis and worldwide economy downturn over past 2 years. From todays Report on Business (globeandmail.com) Deliberations continue as Canada's premiers meet today in Ottawa to put the final touches on a budget request for Prime Minister Stephen … (0 comments)
alberta: FREQUENTLY ASKED QUESTIONS - CANADIAN MORTGAGE SOLUTIONS
- 01/09/09 06:04 PM
Why use a Mortgage Broker? •· Power of professional negotiating expertise. •· One stop convenience for access to numerous mortgage products. •· Unbiased knowledgeable advice. •· Access to unadvertised rates. •· Work for you, not the Bank. What is the Homebuyers Plan? •· Home Buyers Plan is a federal government program that allows homebuyers to use $20,000.00 for each purchaser from his/her own RRSP. •· You must not have owned a principal residence within the last 5 years. •· You must intend to occupy the home as a principal residence. •· Minimum repayment is 15 equal annual installments. This … (0 comments)
alberta: Silly me
- 01/09/09 05:56 PM
So after posting my blog yesterday talking about how I had just created my own neighborhood Face book page, I go and forget to post the link. You can trust me when I say that it wasn't for suspense or 'hyping' purposes. I guess in all my haste to post about my new creation I forgot the most important part. As of right now the page has 6 members, all of whom were personally invited by myself (friends and folks I know in the neighborhood). As time goes on I really hope to see the group grow so we can learn … (2 comments)
alberta: Copperwood Facebook Group Created
- 01/08/09 04:07 PM
I took some time today to take some advice from a fellow Activerainer today and created a Facebook group for my community (Copperwood - Lethbridge). This is a very good idea in order to create a network of locals from the same community to discuss neighbourhood news and events, get to know our neighbours a bit more and perhaps even foster a few new leads in the process. Facebook really is an amazing tool to not only network with friends, colleagues and former school-mates. It is becoming a habit for almost any daily user of the internet. The possibilities are endless. people can … (0 comments)
alberta: Elk Valley Avalanche - A terrible tragedy for an amazing community
- 12/30/08 04:11 PM
Thoughts and prayers to friends and family members of the eight victims of the Avalanche near my hometown of Fernie B.C.. Due to the relatively small population of Fernie and Sparwood, these men were known throughout the valley. Several of my friends and their families have been directly affected by this tragedy. I happened to know one of the victims personally, having played hockey with him throughout my teen years. It's been several years since I've seen him but I can say that he was a awesome guy and great team-mate. One of the fastest skaters around! To everyone affected by this act … (0 comments)
alberta: Happy Holidays Everyone
- 12/24/08 05:41 AM
This holiday season, my thoughts turn gratefully to those people who have made my success possible. It is in this spirit that I say thank-you and best wishes for the holiday season and a very happy new year. May peace, prosperity and joy be with you all!!! All the best! Shaun … (1 comments)
alberta: Equity & Vision mortgage programs suspended by another Lender.
- 12/24/08 05:23 AM
Equity (low documentation) and vision (damaged credit) mortgages became more difficult to obtain in Canada this week as Concentra financial announced that it was "temporarily" suspending these programs in response to the current conditions of the economy and credit conditions in Canada. These types of programs are very important to customers who don't fit the traditional "A" lending requirements of most banks and institutions. Equity programs allow for reduced amount of required documentation in underwriting a mortgage. Over the past few years, lenders have been willing to allow for less documentation in situations where there is sizable amount of equity (security) in a property. … (0 comments)
If you happen to hold an unsecure line of credit with a Canadian financial institution, you may be receiving some troublesome news - payments and interest could be on the rise. This increase is not due to the Bank of Canada raising the Prime rate however. Several of the major financial institutions in Canada are concerned that their earnings may be affected by the historically low interest rates that exist in the marketplace at present and are taking it upon themselves to change things, by increasing their own rates.
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