| Rate Watch
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Term Best Rate
1 yr Fixed 2.64%
3 yr Fixed 3.75%
4 yr Fixed 4.19%
5 yr Fixed 4.39%
Variable Prime -.6%
Prime is 2.50%
*some conditions may apply
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Did you know?
| People change homes on average every 7 years.
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Happy June everyone. It's hard to believe its June with the Weather we are having on the west coast. Feels more like March. Hopefully the sun will show up soon. The Bank of Canada raised the overnight lending rate by .25% this morning. This does not come as any great surprise as the Bank of Canada has been saying that was their plan all along. There was some speculation that due to all the uncertainty in the world that the bank would not raise the rate today. What the Bank of Canada has said is due to the world economic conditions they will be monitoring things very closely and they may not be moving rates up as fast as they had originally planned. When I say fast I mean over two years and 2%. This is good news for everyone with a variable rate mortgage as it means we may be seeing low rates for even longer than we had anticipated. Read full story here: full storyThe local housing market has had a large influx of units for sale so anyone looking to buy right now your timing is good as there is lots of inventory and low low interest rates. Make sure you read about Dave Brett Below. Dave is a client and buddy who runs a great boxing gym. Allison and I took his cardio boxing classes for 4 months before we got married and they whipped us into shape. It's a great gym and don't be intimidated as they teach all levels of boxing and fitness.
Enjoy the newsletter!
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Meet Dave Brett!
Griffins Boxing and Fitness is the only sanctioned boxing gym on North
Vancouver, dedicated to making your boxing experience challenging and exciting
in a fun and inviting atmosphere.
Our instructors are the best. They have
studied and trained under the National Coaching Certification Program (NCCP)
and the "Glove System" program to qualify as a part of the Griffins Boxing and
Fitness Team.
Our primary goal is to
change your life in a positive and self rewarding way, to assist you in being
the best you can be. Our carefully structured programs go far beyond technical
skill. We will help you acquire
effective self-defense skills and provide you with a comprehensive, personal
development program. It is our goal to raise the quality of life for all our
students in every way possible.
Although we honour the 'sweet science', we
believe we are dynamic and are constantly seeking new and innovative ways to
enthuse and excite our students. At
Griffins Boxing and Fitness, we also host various activities and events like An
Evening at Ringside Charity Dinner and Boxing Gala on June 19th
2010. Come show your support to the Big Brothers of Vancouver by
purchasing a table to this amazing yearly event!
Griffins Boxing Club
www.griffinsboxing.com
griffinsboxing@hotmail.com
(604) 980-1900
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Customer feedback!
Dave
has arranged 2 mortgages for me in the last year and I was very impressed with
his professionalism . Each time Dave was very efficient dealing with all the
necessary paperwork and found me the best deals available.
I would not hesitate in recommending his services.
Penny Carrigan
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GST/HST New Housing Rebate
GST/HST
New Housing Rebate
From July
1, 2010, new home sales in Ontario and BC will be subject to the new
Harmonized Sales Tax (HST).
In Ontario, the existing 8% Provincial Sales Tax (PST) and 5% federal Goods
and Services Tax (GST) will be combined to create the 13% HST.
In BC, the existing 7% Provincial Sales Tax (PST) and the 5% federal Goods
and Services Tax (GST) will be combined to create the 12% HST. However, there
are governement cost-savings initiatives that have been put in place to help
home buyers, home owners and investors such as the GST/HST New Housing
Rebate.
The GST/HST New Housing Rebate program provides a rebate on part of the GST
or the federal part of the HST paid on the construction or purchase of most
newly constructed or substantially renovated houses used as a primary place
of residence.
If you purchase a home after July 1, 2010, you may qualify for the GST/HST
New Housing Rebate.
GST/HST New Housing Rebate
The New Housing Rebate allows you to recover a part of the GST/HST that
you paid on the purchase price or cost of building a new, or substantially
renovated house.
What type of house qualifies?
These types of housing qualify for the rebate:
A house that you built, substantially
renovated or on which you built a major addition on land that you own or
lease (you can do the work yourself or hire someone to do it); A new mobile home (this includes a
modular home) or a new floating home that you brought from a builder
(building and land; A new or substantially renovated house
that you bought where you lease the land from the builder under the same
agreement to buy the house and the lease is for 20 years or more, or
gives you the option to buy the land; A share of capital stock in a
co-operative housing corporation (co-op) that you bought; or A non-residential property that you
converted into your house Whether you're a first-time home buyer, a home owner planning to
trade up, or you've decided to stay put, make sure you know about savings
programs that benefit you.
For more information regarding the GST/HST New Housing Rebate, contact the
Canada Revenue Agency (CRA) or click here to visit
their website.
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Win a luxury trip for two to Alaska!! Almost all my business comes from referrals and I thank all of you who referred a friend in 2009. The 2009 Grand prize of 2 tickets to the Olympic Closing ceremonies will be drawn on December 10, 2009 so stay tuned. As we will only have the Olympics once, next years prize is a luxury Alaskan Cruise for two. Dates to be chosen by the winner.
Every
mortgage referral that closes between January 1, 2010 and December 31, 2010 earns
you an entry in the draw for a luxury trip for two to Alaska*.
*Some conditions may apply. Promotion valid until Dec 31, 2009
on any mortgage referral made via email, mail or voice directly to Dave
Bruynesteyn. Referral needs to become a funded deal to qualify. This
promotional offer is neither endorsed nor supported by Invis Inc.
E&OE |
In Conclusion
The housing market seems to have stabilized into a more normal market. We have high inventory and low rates. I am even seeing some offers that are subject to sale of existing homes. Not something we have seen in a while.
Moving can be stressful but remember it's usually so worth it once it's done. My parents just sold their house of 46 years and moved to an apartment. It was about a two and a half month project to get the house ready for sale. It was a tonne of work but worth it in the end as they have simplified their life and are in a great apartment now.
As always I am always here to talk about your mortgage situation so feel free to contact me by phone or email.
All my business comes from referral so please pass my name forward.
Sincerely,
Dave Bruynesteyn
Invis
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2008 Sales Excellence winner- Invis BC
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