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| November 2012 | Vol 4, Issue 11
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| Greetings! |
Welcome to the November edition of Monthly Mortgage Matters!
It sure doesn't take long for the costumes and candy to be tucked away, and then the Christmas lights appear. I think it was November 1st when I heard the first Christmas Carol at a Shopper's Drug Mart.
Interest rates remain low, with even more lenders coming to the table with quick closing specials. Keep an eye on the 10 year terms if you want some long term security. Is that real estate market really that slow? Check out this month's video.
Thinking of buying or selling in the next year? Curious where prices may be going. I've added a link below to an article from Financial Post with some of my comments.
Have you been thinking what might happen if rates increase in 2013? Being pro-active with your mortgage is the first line of defense. I resurrected an old blog post, which is timely for you to review again. Time is Money With Your Mortgage!
HERE'S A CHANCE TO WIN A GIFT CARD FOR A NIGHT OUT!! I would like to get to 100 likes on my Facebook page by Dec 15th. If I hit my goal, a lucky 'fan' will win a $50 gift card. Click the picture below to visit my business page.
Are you looking to purchase a new home? How would you like up to $2000 CASH BACK towards your purchase. Check out the Canadian Home Buyers Academy section below.
Mortgage Rob
Follow Mortgage Rob on the these sites.
"The greatest complement I can receive is a referral to friends and family."
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| Rate Watch | |
Term Best Rate
1 year Fixed 2.64%
2 year Fixed 2.49%
3 year Fixed 2.75%
5 year Fixed 2.94%
10 Year Fixed 3.89%
VRM Prime - .30% (2.70%)
*Some conditions may apply |
| Did you Know? |
If you increase your mortgage payments 4 to 5% each year, you will knock 10 years off the mortgage in just the first 5 year term. On a $300K mortgage, that's only a $60 to $70 hit to your budget per month.
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| This Month's Mortgage Tip |
 | | Canadian Mortgage Market Update Nov 2012 - Is It Time to Re-Mortgage? |
Nothing negative to say about the rates this month. More lenders competing at 2.99% or lower for 5 year terms. Lot's to choose from is you're wanting longer term security of a 10 year term.
Plus, has there been any more fallout from the last round of mortgage rule changes?
Do you know that it's possible to create a longer term plan for your mortgage, much like your financial planner will do for your investments. View the video below, and contact me for a planning session.
Click here: There's Money in Your Mortgage
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How Housing Prices Depend on Demographics
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What's going to happen to home prices in Canada? The answers may lie in our demographics.
The typical Baby Boomer is likely to sell the 3,000 square foot, 4-bedroom home they raised their family in and instead opt for a 1,500 square foot condo before long.
To read more, here's a link to a recent blog post and article from the financial post.
Mortgage News From Mortgage Rob - How housing prices depend on Demographics |
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Time Is Money In Your Mortgage
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How would an increase to interest rates affect you and your family? Hard to say. But the best defense is to be proactive with your mortgage strategy. There are some very simple things you can do to get ahead of your mortgage, and create more flexibility in the future.
This is an old blog post, but seems timely with a number of the headlines we are reading today.
Mortgage News From Mortgage Rob -
Time Is Money With Your Mortgage
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Up to $2000 Cash Back On Your Next Purchase
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 I have recently introduced the Canadian Home Buyers Academy. If you are considering purchasing a home, this is simply your best resource for all the information you need to make the home buying process simple and straight forward.
Plus, through the process, as a Member of the Canadian Home Buyer's Academy you will be eligible to receive up to $2000 Cash Back towards the purchase of your new home.
This offer is available to you, your friends and your family! For more details, click on the following link:
Canadian Home Buyers Academy
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If you've thought about getting into the real estate market, or getting a second opinion on your existing mortgage, now is a perfect time to find out your options. Housing is as affordable as it has been in years, and there are lots of opportunities to buy that new dream home, or restructure some financing and make drastic changes to your monthly budget. Don't hesitate, take action today !
Sincerely,
Rob Macdonald, AMPMortgage Expert
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