New Mortgage Rules - Easter Egg Hunt + More!

The Mortgage Monitor	March 2011

Michelle Brienza There are so many things that are going on in the world right now but the situation in Japan is one that is top of mind these days.

I can't imagine going about my daily routine and within hours, my life being completely displaced! People are left with only the clothes on their back. Japan is in desperate need of our help.

My dear friends at Cake Star are participating with others in a bake sale to help with the relief efforts in Japan. Not only are they looking for sales, but they welcome people to come help participate. Please check out this link for more details: http://www.tiffintales.com/bake-for-japan/

Today, the new mortgage rules are in effect:

New Maximum Amortization Period for conventional and high ratio loans will be 30 years.
New Maximum Loan-To-Value (LTV) for Refinances will be 85%.
Home Equity Lines of Credits will no longer have federal government backing

The government is trying to ensure that Canadians pay down their current household debt and start saving for retirement. These mortgage rules force Canadians to not use their house as an ATM and have some forced savings in their homes. The drop from 35 years to 30 years really won't make a difference in monthly payments.

With mortgage interest rates still at an all-time low, this is still an excellent time to consolidate any debt into one low monthly payment. The Bank of Canada is not in any rush to raise the prime rate given that the core inflation rate is still in check. If you or anyone you know is looking to refinance and consolidate, please call me for a free consultation.

Spring is almost here and how best to celebrate than children playing and having fun! I am hosting an Easter Client Appreciation Event on Tuesday April 12th. Please see the invitation for details. I can't wait to see you there! Spots are limited so please RSVP as soon as possible.

My next investor workshops are Thursday March 24th and Tuesday April 12th. Please see both invites attached.

Please click here for my latest mortgage rates!

Michelle

Michelle Brienza, AMP (Lic # M0806298)
Senior Mortgage Agent
Lending Logic Financial Inc.(Broker # 11782)
Direct: (416) 410-5761 Fax: (416) 410-5761
www.michellemortgages.ca
michelle@michellemortages.ca

Toronto bakes for Japan: Sunday April 10

Toronto Bakes for Japan is an enormous bake sale happening at Liberty Noodle (171 East Liberty Street, #100) in Liberty Village on Sunday, April 10 from 11-3. Inspired by a New Zealand bake sale that raised over $16,000 for victims of the Christchurch earthquake, we are hoping to raise thousands of dollars.

Several dozen people and bakeries are donating their baked goods and we're hoping to add more venues and bakers.

Please come out and support this great cause and enjoy some scrumptious desserts while you're doing it!

Click here for more information

February job creation disappoints as unemployment rate stays unchanged at 7.8%

The Canadian economy disappointed in February, creating a smaller than expected 15,100 new jobs that included an outright decline in full-time work.

The tiny pick-up overall, all part time jobs, was below the consensus expectation for as many as 25,000 new jobs, but large enough to keep the unemployment rate at 7.8 per cent.
The loonie closed ahead 0.48 of a cent at 102.98 cents US.

Analysts saw the jobs picture as a glass half empty.

CIBC economist Emanuella Enenajor characterized the news as "disappointing, but not alarming."

Click here for the full article

Easter Egg Hunt:

Saturday April 16

Kids, parents and grandparents are all invited t our free easter egg hunt on Saturday, April 16!

From 12:30-3, we're offering face painting, games, crafts, pizza and light refreshments and of course, the easter egg hunt!

Please click here for more information and email me by April 4 to RSVP.

Contact Me

Michelle Brienza
email
website
Phone: (416) 410-5761

Real Estate Investor Workshops: Thursday, March 24 and Tuesday, April 12

Have you ever considered real estate as part of your investment portfolio, but didn't know where to find more information?

Please join me at one of my next Investor's Workshops - March 24th or April 12.

There's no cost or obligation involved. We will be speaking about how to develop an investor's mindset, how to act when opportunity knocks and how you can save thousands of dollars when purchasing an income property.

If you have already attended one of these workshops, please feel free to invite those you think will benefit from this workshop. Please RSVP by no later than April 5th. There are a limited number of seats available so I would recommend that you RSVP as soon as possible. I look forward to seeing you there!

Click here for full details about the the March 24th workshop.

Click here for further details on the April 12th workshop.

Real Estate: 10 things you need to know

Next to public speaking, buying or selling a home is at the top of many people's fear and loathing list. A home is the biggest investment you'll ever make and while exciting, the potential for things to go wrong is pretty big.

Here are 10 things to consider when buying a home.

1. The housing market isn't really a market

At least not in the way you might think. While housing analysts like to compare real estate returns to stock market returns, it is a misleading comparison.

Click here for the full article