Renovation Insurance + May Workshop + More!

The Mortgage Monitor	April 2011

Michelle Brienza

I hope everyone had a wonderful Easter long weekend!

On April 16th, we had a client Easter appreciation event for the children at Loots Lounge. The kids had so much fun. Thank you to all those who attended! Click here to view the photos.

As you may have been hearing on the news, the Bank of Canada kept prime at the same overnight lending rate of 1%, however, in the upcoming months, this may begin to change as soon as July.

I anticipate that prime will go up approx .25%, however, you can expect that prime over the next year will go up by at least 1%. This may be a good time to review whether you want to lock in to a fixed rate mortgage or continue on the variable.

As many of you know, I encourage utilizing your pre-payment options if you are on a variable mortgage. When you increase your payments by 15 or 20%, that amount goes directly to your principal mortgage balance, decreasing the amount you pay in interest over the years and decreasing your amortization.

My next investor workshop is Thursday, May 26 - remember, this is a free, no obligation real estate investor workshop. If you are thinking of real estate as an investment, this is a great introduction for you! Feel free to pass this invite along to anyone who you think would be interested in attending.

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

Don't forget insurance when planning a reno

My family and I recently embarked on that most stressful domestic endeavour: the home renovation. When we decided to finally modernize our 70s kitchen and create a playroom in the basement for our two kids, my husband and I felt reasonably confident we had done our homework.

We found a contractor with great references, shopped around to find the best deals on quartz and hardwood and made ourselves very familiar with the IKEA catalogue. We had decided to avoid the drywall dust and stray nails and move out for the six weeks of renovation, so we scoured Craigslist and found a great condo in a lovely neighbourhood for a decent price. The day our contractor started opening up walls, we were ensconced in comfortable accommodations, making regular visits back home to monitor what was happening at the homestead.

Click here for the full article

Outlook negative: Chance of S&P U.S. downgrade rattles markets

Standard & Poor's surprised the market with a downward revision of its long-term rating outlook on U.S. government debt. Investors responded promptly by selling stocks and sending bond yields on a rollercoaster ride, demonstrating that they are paying closer attention to the deadlock in Washington.

Analysts warned the downgrade could lead to a weaker U.S. dollar, equity volatility and higher bond yields as the drama plays out. Indeed, with Europe also struggling through its own debt issues, it is another sign that further gains are going to be harder to come by.

"Clearly this was a signal S&P wants something done prior to the next presidential election," said Mark Chandler, head of fixed income and currency research at RBC Capital Markets. "It's not good enough just to buy time until we get to the next round of elections."

Click here for the full article

Contact Me

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

Real Estate Investor Workshop: Thursday, May 26

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 - Thursday May 26th.

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 May 19th. 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 May workshop.

Have home sales in your neighbourhood gone up or down?

After a bullish 2010, house prices in Toronto are levelling off, an analysis of first-quarter neighbourhood sales shows. Toronto real estate expert John Pasalis, whose company, Realosophy Realty Inc. analysed and resorted Toronto Real Estate Board data for The Globe and Mail, said the cost of homes in the city is moderating, with the rate of increase slowing from last year.

"2010 saw prices jump up 9 per cent from 2009," Mr. Pasalis said. "The first quarter of 2011 is off this pace with an increase of 3.7 per cent as compared to the same quarter last year. He cautions though that the data for just the first three months of the year can be difficult to interpret. "Neighbourhood price appreciation statistics can exaggerate results in particular areas due to differences in neighbourhood size and housing stock," he said.

Click here for the full article