Posted on May 16, 2013 by Mortgage Intelligence
When talking about housing we usually refer to the higher levels of home buying at this time of year as the “Spring Market” more often than not people ready their homes to go on sale in late February or early March and then let the buying begin.
This year is different. Much different. I’ve been part of the home buying industry for over 30 years now and I can honestly say I’ve never seen a year like this before. Here in Durham Region, (that’s where I do most of my business) there were no listings this Spring.
There are plenty of want-to-be buyers but nothing to buy. And if you happen to be lucky enough to find a house in your price range you could be assured you’d be competing with every other buyer who had the same list of features for their home
I’m blaming the shortage of inventory on the weird weather we had. Do you remember January? I do. We had days so warm that we crazy Canadians were out in shorts, washing our cars. But on May 14th my lawn was covered in white stuff. Not snow but enough hail that at first glance it looked like snow. I carried all my flower baskets into the front hall to keep them from freezing!
Why would anyone even think of making a move when we have 4 seasons in one week? But Canadians won’t be discouraged. There’s no snow forecast for the May long weekend and this being the biggest weekend for garden centres, we’re gonna get those gardens in shape and list our homes.
I’m predicting this year the Spring Market should arrive just in time for Summer.
Happy buying and selling!
Filed under: Mortgage News | Tagged: Buyers and Sellers, first time buyers, MLS.ca, spring market | Leave a Comment »
Posted on May 16, 2013 by Mortgage Intelligence
Canadians may be benefiting from ultra low mortgage rates, but if you read the recent survey done by RBC Canadian Consumer Outlook Index, you’ll see that we’re hurting at the supermarket.
As I read the article I thought how much I have noticed the weekly cost of food going up.
We are two people in our household but we seem to spend more each month it seems.
I like to cook so I’m not taking advantage of a lot of convenience food, and still I look at the flyer and plan my meals according to what’s the best buy. I can only imagine how family with growing children are meeting the challenges of providing wholesome food and keeping costs in line.
This article shows how folks are trying to cut back while keeping good food on the table. I hope you enjoy it.
How are you coping with higher food prices? Do you have a tip to share with our readers?
Filed under: Uncategorized, Your Money | Tagged: cutting back on food costs, Economy, high food costs, low mortgage rates, saving on groceries | Leave a Comment »
Posted on May 13, 2013 by Mortgage Intelligence
What would you do if you became critically ill or disabled? Would the added financial stress impede your recovery?
Recently, my own family was touched by Cancer. It was a terrifying time. But without a way to make ends meet it would have been even more devastating. No one knows when illness or accident will strike, so being prepared is not just what a good Boy Scout should do!
Every family needs to be sure that if one of the wage earners should be forced to leave their job to deal with illness or accident, that the family can go on without becoming financially ill as well.
I came across an enlightening article that brings home the reason that we all need to put a plan in place before disaster strikes and I would like to share it with you today. Read More
Knowing you can secure your family should you or a loved one become ill or disabled is a great relief. We are pleased to offer full Life, Critical, Illness and Disability Insurance options for all our clients.
Simply contact us today using the handy form below.
Filed under: Insurance, Your Money | Tagged: Critical Illness Insurance, Disability Insurance, Life Insurance | Leave a Comment »
Posted on May 10, 2013 by Mortgage Intelligence
It’s not too late to find the perfect way to say Thanks Mom!
Do you want to give mom the perfect gift, but lack the imagination to come up with something special. Fear not the Globe posted an article with 47 great ideas from under $10.00 to Oh Boy! you really love your mom.
If you just need a little inspiration check it out at Think Outside the Box.
While you’re at it why not start planning for Father’s Day, it’s just around the corner on June 16th. More great ideas.
Filed under: Family Times | Tagged: Father's Day, Father's day Gift Ideas, Mother's d, Mother's Day, Mother's Day Gift ideas | Leave a Comment »
Posted on May 6, 2013 by Mortgage Intelligence
MACP Provides A New Option for Spousal Buyouts
One Canadian Lender has come up with a solution to buying out a spouse to 95% of the value of the matrimonial home. Under the new Mortgage Rules of July 2012 is not possible to re-finance above 80% of a home’s value.
MCAP has created an option that allows buyouts to 95% of the value, making it possible for one spouse to keep the home after a divorce. There are of course certain guidelines that must be followed but overall this is a great solution for those who are divorcing.
The new options requires:
- A Separation Agreement finalized by a lawyer
- A simple Sale Agreement drawn by a lawyer. (deposit with offer is $0)
- Full CMHC premium to be paid (this is now a purchase not a refinance)
- Best rates apply for all mortgage terms at MCAP
This cannot be done if there is only one spouse on title and that is the spouse that wants to keep the house. That would be seen as a re-finance.
If you find yourself in a situation where you want to keep the matrimonial home after divorce please contact us. MCAP mortgages are provided by Mortgage Brokers only.
or use the handy form to contact us so we can determine if this solution is right for you.
Filed under: Family Times, Mortgage News, Uncategorized, Your Money | Tagged: dovorce, matrimonial home, MCAP, Mortgage Brokers, new mortgage, separation agreement, Spousal buyout | Leave a Comment »
Posted on April 24, 2013 by Mortgage Intelligence