|
It's 2010,
time for a contest! |
I wanted to have a fun contest for the start of 2010, so here it is, 2 great lower bowl tickets to the Canucks vs. Chicago January 23rd to the person who wins our draw. How to enter? This is a bit of a treasure hunt...you have to tell me the second word of the black lettered paragraph on the page you land on when you "Introduce a friend" to me on the website at www.homehappy.ca
When you have the word, click the link at the bottom of this section and make that word the subject of your email then enter your name & phone number in the email...you are then in the draw! One entry per person, draw will be made Thursday January 21st and you will be notified by email or phone.
Thanks and have fun!
|
|
Rate hold Program with IOP |
|
At Invis on the Peninsula we strive to look after our client's long term mortgage needs, sometimes that means we have to do things differently than others, and we are ok with that.
One program we have is to setup a rate hold with a lender (other than the one you are currently at, they won't do this) so we can ensure the current fixed rate is held for up to 120 days. You can then see what happens on the market with no obligation to go forward. If rates stay the same or go down, no problem, but if rates go up, you have the peice of mind that comes with having the best rate held for you. If you wish to go ahead and move your mortgage, you can decide to proceed. Call us to arrange this for you, it's a free service, and while it is extra work on our part, we're ok with that.
|
|
About Us
Invis on the Peninsula is a team of Mortgage Professionals led by Michael Anthony Lloyd.
With a combined 75 years plus in lending and one of the highest volume teams in Invis, Canada's largest mortgage brokerage, we have the experience and relationships with lenders to get not only an approval, but the best overall package for you.
Our philosophy will always be based on long term relationship building with our clients...we always offer objective advice, and will be here in the long run | |
 |
|
Michael's Mortgage Minute
The latest information for you
The Bank of Canada as expected left Prime alone today (2.25%) and said they will stay the course until June at least. They siad the economy is doing alright, but there is no concern for inflation currently. 5 year discounted fixed rates remain in the 3.85% - 3.99% range. Variable rate mortgages are now below Prime in the Prime - .10 - .20% range. While some lenders do offer some further discounts to both, they are tied to either "quick closes" where they have to close within 30 days or have restrictions on the features of the mortgage like prepayment amount etc.
We are expecting a strong start to the Real Estate market as there is pent up demand but limited listings supply. As more people realize what they could sell their house for, more will go up for sale. Most home prices have now regained any decreases in prices over the last year, although most of the public doesn't seem aware of this.
With low rates likely to continue, a mortgage strategy that is based on a floating rate makes sense for most people, and with new variable rate products priced at Prime or below, the savings are significant. If you are currently locked in we should be reviewing what is best for you.
Our concern is not the current climate, it is the issue of coming due in a high rate cycle, which we expect to occur between 2012-2014. By floating now and locking in later we think it is worth some risk now to avoid those much higher rates down the road.
As always, if in doubt, give us a call to review your mortgage strategy. |
|
Are Bills getting you down?
Now may be a good time to reduce your stress and put your equity to work!
We can all get a little depressed by too many bills...credit cards, lines of credits that never seem to go down, big payments on car loans, no cash to put into your rsps...there are endless pressures put on your paycheck!
You might have a solution to these issues right over your head...the equity you have built up in your home can be accessed to "reposition" those debts to a lower rate and get you down to one payment a month. We have several stratagies available that can take the stress off and get you ahead. Some people worry they are going backwards doing this, however, we can show you how that low interest rate and careful budgeting can actually payoff all of your debt faster than by trying to payoff all of them individually.
If your debts are bothering you, or impending large cash outlays are causing you to lose sleep, give us a call, we love to help people! |
|
Thinking of making a change in 2010?
With BC's Real Estate market running at full steam, this may be the time to make the move you have always wanted...that next step may be closer than it ever will be again.
The best thing to do is give us a call to review what your new mortgage could be, what the budget would look like and if you can live with it. We can have a rate hold setup with a new lender, review what costs you will be looking at for your existing mortgage, selling/closing costs, and even refer you to an expert Realtor.
Having all of the information and a plan is what will help you make a smart, informed decision.
With a strong spring market, now is the time to get your ducks in a row!
|
|
Did You Know?
Property assesment statements were sent out recently with many showing reductions. Please remember these numbers are based off of sales in your area in July of last year, and likely do not reflect the current market. they also do not take into account the value of your home specifically, since they do not inspect homes. Most lenders will not use these statements for lending purposes, requiring an appraisal be performed by a professional licensed appraiser.
| |
