Using RRSP's for Downpayment

Visit this site to get all the details on withdrawing from your RRSP for the downpayment or closing costs to purchase your home.

Some key elements
* up to 20000.00 per person can be withdrawn
* must not have owned a home in the previous 5 years
* repayment begins two years after withdrawal from the plan
* you are required to pay back 1/15th of the withdrawn amount each year

Call us for more details and/or assistance

http://lisette.harris.googlepages.com/Homebuyersplan.pdf

May 29th 2007 Prime Remains Unchanged

Overnight Rate remains unchanged meaning the Prime Rate remains unchanged at 6%.

Press Releases


May 29, 2007

FOR IMMEDIATE RELEASE

Bank of Canada keeps target for the overnight rate at 4 1/4 per cent

OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 4 1/2 per cent.

Information received since the April Monetary Policy Report (MPR) indicates that economic growth and inflation in Canada in the first part of this year have been stronger than the Bank was expecting. In April, both total CPI inflation, at 2.2 per cent, and core inflation, at 2.5 per cent, were above expectations. On the basis of available information, the Canadian economy is likely to have grown at an annual rate of about 3 1/2 per cent in the first quarter of this year - a full percentage point higher than was estimated in the MPR. The Bank now judges that there is somewhat greater excess demand in the economy than was thought to be the case in April. U.S. economic activity has come in largely as expected and continuing robust growth outside North America has maintained the global demand for, and high prices of, many commodities produced in Canada. Against this overall backdrop, the Canadian dollar has risen appreciably above the range assumed in the Bank's April projection.

On balance, the Bank judges that there is an increased risk that future inflation will persist above the 2 per cent inflation target and that some increase in the target for the overnight rate may be required in the near term to bring inflation back to the target.

An updated analysis of the Bank's outlook for growth and inflation, including economic and financial developments, trends, and risks, will be set out in the Monetary Policy Report Update, to be published on 12 July 2007. Information note: The Bank of Canada's next scheduled date for announcing the overnight rate target is 10 July 2007.

A Golden Attitude...

We all need a few reminders on how we can stay positive!

Be enthusiastic! Start your day with a “Seize the Day” outlook.

Always greet your co-workers, your boss, your staff and your customers and most importantly your family with a Smile. A simple smile establishes your own self worth and enjoyment of life and shares it with others.

Surround yourself with positive people. Stay away from toxic people who participate in pity parties, gossip groups or gripe sessions. You become what you are around most.

Establish some positive habits that reinforce your self worth. For example:

Exercise, relaxation, fun time, time with your family/children, being a “doer”, achieving goalworking on a relationship.

Invest in yourself. Read books, listen to motivational or educational tapes, take a course or seminar. Education is a life long process.

Become a problem solver and a decision maker. Don’t settle for uncomfortable circumstances or unsolved problems in your life. Your life is a result of all the things you DO and DON’T DO.

Take responsibility for the results in your life. There are only two think in life RESULTS or EXCUSES. When you experience unfavourable circumstances in your life, ask yourself, “What am I going to do about it?”

Learn how to enjoy life on a daily basis, even when it is not exactly the way you would like it to be!

Smile and Have a Great Day!