28 January 2016
15 July 2015
FW: Interest rate announcement and Monetary Policy Report / Taux directeur et Rapport sur la politique monétaire
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29 October 2014
16 July 2014
Bank Of Canada Announcement
As you know, your variable rate mortgage, line of credit and/or student loans are all based on the Prime Rate and at 10:00 am EST, Wednesday July 16th, 2014 the Bank of Canada again did what we expected them to do … they continue to maintain their overnight rate and in fact are not likely to make any change until possibly 2016 now! What this means to you is that once again the prime rate on your mortgage, line of credit or student loan will not change and remains at 3.00%. This is fabulous news but are you still making the most of the low payments you have! If you have any high interest credit card debt that you can’t pay off in full each month, it might be a good time for us to chat about a possible debt consolidation into your mortgage to save you some unnecessary interest… get a clear financial outlook void of expensive debt and start your summer off right and debt free! The Bank of Canada said “the global economy is on a lower growth track than was foreseen” so they will continue to wait and see economic growth continue on a more upward direction before increasing rates. Fixed rates haven’t changed much at all since the last announcement and are around 2.99% to 3.09% for a five year fixed term. The next announcement on any change to the prime rate is September 3rd, 2014 at which time I’ll be in touch again. I wonder if I can ask a favour – this is a great time for first time home buyers who are thinking of purchasing to start with a pre-approval plan now to get them on track and save unnecessary interest. It is advisable to start planning ahead and I would be happy to provide an idea of closing costs and monthly budget payments to start those that you know on the path to home ownership. Also, if you hear a friend or family member talk about going thru a financially tough time – maybe I can help with some budgeting, credit counselling and debt consolidation options for them. In either of these cases, would you mind passing my contact information on to them – this is very much appreciated.
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Toll Free: 877-529-1199
Fax: 905-628-7917
2 June 2014
2 May 2014
Budget Review
TD Economics provides the following highlights of the of the 2014 Ontario Budget
Highlights
• The Ontario government expects to post an $11.3 billion deficit (1.6% of GDP) in fiscal 2013-14, slightly lower than the $11.7 billion shortfall projected in last year’s budget.
• The government has raised its near-term deficit targets. Red ink of $12.5 and $8.9 billion are anticipated over the next two years, respectively, some $1.5-$2.5 billion higher than shown a year ago.
• Thereafter, stronger economic growth is expected to help the Province ride to a balanced budget by fiscal 2017-18 – identical to last year’s objective.
• The net debt-to-GDP ratio is projected to reach a high in fiscal 2015-16 at around 41%, then to edge lower beginning in fiscal 2016-17.
• A $29 billion transportation infrastructure plan, a proposal for a new Ontario pension plan, a new Jobs and Prosperity fund and support for low-income families formed the core of today’s budget. That said, with underlying restraint still the catch phrase, program spending growth is planned to be held to a very lean 1.1% per year on average through fiscal 2017-18.
• In order to fund initiatives and bring the deficit down, the government announced a string of new revenue measures, including tax hikes on higher-income individuals, tobacco and aviation fuel. Sales of some public assets were also confirmed, which will provide one-time benefits to coffers.
1 May 2014
Trying to Get Rich .. day by day
Get rich (quick)
Enrich your world by creating value for others.
Enrich your health by walking twenty minutes a day.
Enrich your community by contributing to someone, without keeping score.
Enrich your relationships by saying what needs to be said.
Enrich your standing by trusting someone else.
Enrich your organization by doing more than you're asked.
Enrich your skills by learning something new, something scary.
Enrich your productivity by rejecting false shortcuts.
Enrich your peace of mind by being trusted.
The connection economy pays dividends in ways that the industrial one rarely did.
Posted by Seth Godin on May 01, 2014
http://www.typepad.com/services/trackback/6a00d83451b31569e2019b03922c7d970c
Have a great day!!
16 April 2014
Interest rate announcement and Monetary Policy Report / Taux directeur et Rapport sur la politique monétaire
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Have a great day!!
Our New Address is
8 Sydenham Street Dundas,
Ontario L9H 2T4
Lisette Amalfi, AMP
Mortgage Broker/Owner
Mortgage Alliance Oac Mortgages Lic #10928
Phone: 905-529-1199
Toll Free: 877-529-1199
Fax: 905-628-7917
Notice:
The information contained in this email is confidential. If you are not the intended recipient, you may not disclose or use the information in this email in any way and should destroy any copies. Oac Mortgages Inc. does not guarantee the integrity of any emails or attached files.
17 March 2014
Analyzing BMO’s Go-Fixed Advice
Bmo is suggesting to NOT go variable and that fixed rates are the better bet. Canadian Mortgage Trends analyzed this statement. Click on the link below
Analyzing BMS's Go-Fixed Advice
11 March 2014
When bad things happen to good people
How to escape the debt rat race. |
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Many Canadians find themselves bogged down with a bad credit rating for the wrong reason - illness, losing a job, or simply not understanding consumer credit. Sometimes bad financial situations happen to good people and bankruptcy is the only way out. But it's not all doom and gloom - there are a number of strategies for putting one's credit back on track and getting approved for a mortgage, even after bankruptcy. Going from one financial institution to the next, only to be declined again and again can be very frustrating - which is where an experienced mortgage consultant on your side can make all the difference. Here are some points to consider:
Your trusted mortgage advisor, Lisette Amalfi, AMP |
10 March 2014
Mcap's Mortgage And Real Estate News
Three of Canada’s major real estate boards reported February resale results last week. Vancouver saw a 41% increase in resale volumes from a year ago and a rise in the MLS Home Price Index of more than 3%. Calgary continues to be a very tight market with town homes and condominiums leading the way in sales growth. In Toronto, the condominium sector also performed well in February with listings for detached homes continuing to be scarce. Average prices in Toronto were up more than 8% from February, 2013.
Bank of Montreal published its latest Home Buying Report last week. More than a third of Canadian home buyers say that they are willing to engage in a bidding competition with other buyers. In Vancouver and Toronto, the percentage climbs to more than 40%. The average Canadian homeowner reported looking at more than 9 properties before buying.
The Bank of Canada left its overnight rate at 1% once again last week but in its commentary, higher than expected inflation data and a strong fourth quarter for the Canadian economy seems to have removed the possibility of a rate cut. The Bank reports that recent data supports its expectation of a soft landing for the housing market.
Employment figures for February were released by Statistics Canada on Friday and they were disappointing. The Canadian economy shed 7,000 jobs for the month while economists had forecast a gain of about 15,000. The unemployment rate remains at 7%. In the US, the news was much better as 175,000 jobs were added against expectations for a gain of 135,000.
The benchmark government of Canada five year bond yield ended the week at 1.72%, up from 1.63% the week before.
24 February 2014
18 February 2014
Good News in the Federal Budget for Any of Us That Have or Need a Mortgage
Subject: Good News in the Federal Budget for Any of Us That Have or Need a Mortgage
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27 January 2014
FW: The Advisor
From: Mortgage Alliance [mailto:rateadvisor@mortgagealliance.com]
Sent: Monday, January 27, 2014 1:11 AM
To: oacmortgages@cogeco.net
Subject: The Advisor
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Bank of Canada Announcement to my clients
Variable rate mortgages, lines of credit and/or student loans are all based on the Prime Rate and here is your personal update from me on the recent Bank of Canada announcement on changes to their Overnight Rate which in most cases impacts your Prime Rate. At 10:00 am EST, Wednesday January 22nd, 2014 the Bank of Canada again did what we expected them to do … they continued to maintain their overnight rate. What this means to you is that once again the prime rate on your mortgage, line of credit or student loan will not change and remains at 3.00%. This is fabulous news but don’t forget to make the most of the low payments you still have, as the rate will increase in the future. If you haven’t done so already, give me a call and we can chat about helping you get set up with a great GIC, Tax Free Savings Account, or Retirement Savings Plan as your payments continue to remain low. So did you, or someone you know, blow their budget over the holiday season and have started to get those dreaded credit card bills in and the reality is starting to sink in... let me help you get back on track with a review of your financial situation which might be a savings plan, credit counselling or debt consolidation to pay off high interest loans or credit cards. If you would like to chat about some budgeting and saving strategies – let me know as I would be happy to assist. Here is an excerpt of the announcement from the Bank of Canada and what they had to say about their decision today: “Inflation in Canada has moved further below the 2% target, owing largely to significant excess supply in the economy and heightened competition in the retail sector. Global growth is expected to strengthen over the next two years with the US leading this acceleration, aided by diminishing fiscal drag, accommodative monetary policy and stronger household balance sheets. The improving U.S. outlook is affecting global bond, equity, and currency markets. Growth in other regions is evolving largely as projected. In Canada, growth improved in the second half of 2013. However, there have been few signs of the anticipated rebalancing towards exports and business investment. Stronger U.S. demand, as well as the recent depreciation of the Canadian dollar, should help to boost exports and, in turn, business confidence and investment”. Based on this news, the Bank still does not expect to increase their rate in the foreseeable future with any change most likely to occur late 2014 or even not until 2015! Remember, that any increase to the prime rate since 1992 has only been by 0.25% at any ONE time, so you won’t see a large significant increase all at once. Fixed rates dropped just slightly since the last announcement to around 3.39% to 3.59% for a five year fixed term. Based on this recent announcement, and the anticipation that the prime rate will still remain low for a while now, unless you feel otherwise, I’d recommend that you remain with your current variable rate product as the interest is lower than a fixed term rate right now. However, if having a fixed payment is important to you, call me so I can calculate what your new payment would look like and also if it is suitable for you. The next announcement on any change to the prime rate is March 5th, 2014 at which time I’ll be in touch again. I wonder if I can ask a favour – this is a great time for first time home buyers who are thinking of purchasing in the Spring to start with a pre-approval plan now to get them on track and save unnecessary interest. Also if you hear a friend or family member talk about going thru a financially tough time – maybe I can help with some budgeting and debt consolidation options for them. In either of these cases, would you mind passing my contact information on to them – this is very much appreciated.
|
Have a great day!!
Our New Address is
8 Sydenham Street Dundas,
Ontario L9H 2T4
Lisette Amalfi, AMP
Mortgage Broker/Owner
Mortgage Alliance Oac Mortgages Lic #10928
Phone: 905-529-1199
Toll Free: 877-529-1199
Fax: 905-628-7917
10 January 2014
Canadian Employment (December 2013)
TD Economics
Data Release: The Canadian labour market ends 2013 on a very soft note
- The Canadian labour market lost 46K net new positions in December, well off from the small gain the market had been expecting.
- With more people looking for work, the unemployment rate increased to 7.2% – the metric had previously been under the 7.0%-mark for three months in a row.
- Job contraction in December was exclusively registered in full-time positions (-60K); part-time spots saw an increase in 14K.
- The private sector (-26K) and the self-employed (-38K) posted declines, but the public sector (+18K) avoided the same fate.
- Health care and social assistance was the only industry to create net new positions in December. Educational services (-19K) and other services (-15) were two notable entries in the loser’s column.
- The story was mixed at the regional level. Four provinces managed to post net new job creation, with British Columbia scoring the best (+13K). By contrast, Ontario (-39K) and Alberta (+12K) saw jobs slip through their fingertips. To add salt to the wound, Ontario also saw its unemployment rate increase by 0.7 percentage points. It now sits at 7.9%.
- The average hourly wage rate decelerated to 0.5% in December, on a year-over-year basis, the slowest pace seen in five months.
- Annual figures confirm that 2013 was a lacklustre year for the record books:
a total of 102,000 net new positions were generated, or 8,500 per month;
98% of all the jobs created in 2013 were in the service-producing sectors;
the unemployment rate increased by 0.1 percentage points from January to December, although there has been much volatility in the months in between; and.
part-time employment grew by 2.5%, whereas full-time employment flat-lined.
Key Implications
- The Canadian labour market ended 2013 on a very soft note. Not only was the headline contraction in December sizeable, but the losses were broad-based across industries and exclusively seen in full-time positions. This was not the trifecta that economists were hoping for.
- If we take a step back and look at the year as whole, 2013 was certainly nothing to write home about. Employment growth for the year as a whole was a mere 0.6%, the slowest pace recorded in four years. The labour force participation rate also fell, as the labour force grew at a slower rate than the overall population.
- While the labour market ended 2013 with a loud thud, December’s poor showing was likely a one-off versus a new norm. The economic indicators to date suggest that the Canadian economy will grow by roughly 2-2.5% in 2013Q4. The underlying momentum will likely encourage employers to once again add to their payrolls, albeit at a modest rate of roughly 10-15,000 positions per month.
Sonya Gulati, Senior Economist
416-982-8063
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