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Quick Links |
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www.homehappy.ca |
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Rate hold Program with IOP |
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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.
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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 | |
| Mortgage Update
March 3, 2010 |
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Mortgage Market Update
 Bank of Canada leaves Prime, says no changes till July at the earliest.
As expected, the Bank of Canada left Prime the same (2.25%) and reiterated it's intention to stay the course till July at the earliest. Fixed rates remain down, while there was a slight blip up today in the bond yields which affect the fixed rates, it died down later in the day, so we foresee no rate increases.
Many of the "inflation" pundits who feel the Bank should make a move upwards are guessing at an earlier rate rise due to positive GDP numbers in Canada for the end of 2009. However, the US is still in the doldrums with high unemployment numbers, and Canada is running a high valued dollar as well as a trade deficit...any increase in rates will cause our dollar to go higher, killing our exports and increasing the trade deficit. In reality, the Bank of Canada has always used the Prime rate to control inflation, and there is very little threat of inflation currently, nor will there likely be much to increase inflation for at least a year.
Our best variables are now running at Prime - .40% (1.85%!), and 5 year fixed rates are in the 3.70-3.90% range. Some 7 year mortgages have recently dropped below 5.00% to 4.95%.
If you are unsure of your current mortgage strategy or would like a review of yor situation, please give us a call or email. remember to introduce your friends and family to us so that we can help them to make the best decision on their mortgage plan! |
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Invis on the Peninsula named finalist for "Best Internet Presence" by Canadian Mortgage Awards!
All of us at Invis ont he Peninsula are thrilled to have our website named a finalist with the Canadian Mortgage Awards for "Best Internet Presence 2010". the winner will be announced in Toronto on April 23, 2010 based on a combination of judging and voting. We wish to thank our partners at Redesign lab as well as our clients and colleagues who helped us by participating in and shaping this unique website. |
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Did You Know?
The secret to bi-weekly payments?
There really isn't a secret to bi-weekly payments and how they can "magically" paydown a mortgage faster. It is simpy putting more money on your mortgage than a monthly payment. By paying every 2nd Friday, you are paying onto your mortgage 26 times per year:
Monthly $1000 x 12 = $12,000
Bi-weekly $500 x 26 = $13,000
So if your budget doesn't work well with bi-weekly, you can get the same affect by making one extra monthly payment per year. On a 25 year amortization that can knock 4 years off your mortgage! | |
