| Terms | Best Rates | Per $1,000. |
| | | |
| 6 months | 2.89% | $4.15 |
| 1 yr | 2.89% | $4.15 |
| 2 yrs | 3.09% | $4.25 |
| 3 yrs | 3.19% | $4.32 |
| 4 yrs | 3.25% | $4.34 |
| 5 yrs | 3.29% | $4.36 |
| 7 yrs | 3.99% | $4.75 |
| 10 yrs | 3.99% | $4.75 |
| Prime Rate | 3.00% | |
Tuesday, April 17, 2012
Mortgage Rates
Bank Of Canada Keeps interest rates on hold
The Bank of Canada kept its trend-setting Bank Rate at 1.25 per cent on April 17th, 2012. While this was the 13th consecutive policy meeting in which borrowing costs have been left unchanged, it was the first time since last September that a policy announcement has included a reference to the possibility of a rate hike.
The Bank reiterated a number of the more positive developments it first mentioned in the March 8th announcement. These include a stronger profile for U.S. economic growth, as well as reduced risk emanating from Europe, which the Bank now expects will “emerge slowly from recession in the second half of 2012.”
The Bank also noted that “improved global economic prospects, supply disruptions and geopolitical risks,” are keeping oil prices up which if sustained could prove a risk to the improvement in economic momentum.
In Canada the Bank again declared the biggest risk to be high household debt, adding that it expects households will continue to add to their debt burden as “private domestic demand will account for almost all of Canada’s economic growth over the projection horizon.”
That said, with economic momentum in Canada remaining firmer than the Bank had expected back in January, the forecast for growth this year has been lifted. The Bank now expects the economy will grow at 2.4 per cent this year, up from the 2.0 per cent forecast in January.
At the same time, the Bank lowered its forecast for 2013 to 2.4 per cent from 2.8 per cent, and also extended its forecast out to 2014 with a prediction of 2.2 per cent growth.
The Bank also noted that the amount of slack in the economy had decreased. As such, the Bank now expects the economy will return to full capacity “in the first half of 2013,” which while intentionally vague is still sooner than the previous prediction for a return to full capacity by the third quarter of next year.
The Bank ended the announcement by hinting, for the first time since last September, that it may have to raise rates, stating “In light of the reduced slack in the economy and firmer underlying inflation, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate, consistent with achieving the 2 per cent inflation target over the medium term. The timing and degree of any such withdrawal will be weighed carefully against domestic and global economic developments.”
Further clarification as to when these “modest” rate hikes may be expected will no doubt be the subject of the various speeches and remarks given by the Governor and his deputies between now and the next announcement on June 5th, 2012.
As of April 17th 2012, the advertised five-year lending rate stood at 5.44 per cent. This is up 0.2 percentage points from 5.24 per cent on March 8th, when the Bank made its previous policy interest rate announcement.
(CREA 04/17/2012)
The Bank reiterated a number of the more positive developments it first mentioned in the March 8th announcement. These include a stronger profile for U.S. economic growth, as well as reduced risk emanating from Europe, which the Bank now expects will “emerge slowly from recession in the second half of 2012.”
The Bank also noted that “improved global economic prospects, supply disruptions and geopolitical risks,” are keeping oil prices up which if sustained could prove a risk to the improvement in economic momentum.
In Canada the Bank again declared the biggest risk to be high household debt, adding that it expects households will continue to add to their debt burden as “private domestic demand will account for almost all of Canada’s economic growth over the projection horizon.”
That said, with economic momentum in Canada remaining firmer than the Bank had expected back in January, the forecast for growth this year has been lifted. The Bank now expects the economy will grow at 2.4 per cent this year, up from the 2.0 per cent forecast in January.
At the same time, the Bank lowered its forecast for 2013 to 2.4 per cent from 2.8 per cent, and also extended its forecast out to 2014 with a prediction of 2.2 per cent growth.
The Bank also noted that the amount of slack in the economy had decreased. As such, the Bank now expects the economy will return to full capacity “in the first half of 2013,” which while intentionally vague is still sooner than the previous prediction for a return to full capacity by the third quarter of next year.
The Bank ended the announcement by hinting, for the first time since last September, that it may have to raise rates, stating “In light of the reduced slack in the economy and firmer underlying inflation, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate, consistent with achieving the 2 per cent inflation target over the medium term. The timing and degree of any such withdrawal will be weighed carefully against domestic and global economic developments.”
Further clarification as to when these “modest” rate hikes may be expected will no doubt be the subject of the various speeches and remarks given by the Governor and his deputies between now and the next announcement on June 5th, 2012.
As of April 17th 2012, the advertised five-year lending rate stood at 5.44 per cent. This is up 0.2 percentage points from 5.24 per cent on March 8th, when the Bank made its previous policy interest rate announcement.
(CREA 04/17/2012)
Wednesday, April 11, 2012
Priced For Immediate Sale
3427 Bodard Rd.
$439,900
Wake up to incredible panoramic lake views
Call your Realtor® today,
Tuesday, March 20, 2012
Best Rate Mortgages
Prime is currently 3%
Best Rate Variable Prime minus .25
Rates are subject to change without notice.
Best Rate Variable Prime minus .25
Rates are subject to change without notice.
| Terms | Bank Rates | Our Rates |
| 6 Month | 4.45% | 4.45% |
| 1 YEAR | 3.20% | 2.74% |
| 2 YEARS | 3.55% | 2.74% |
| 3 YEARS | 3.95% | 2.89% |
| 4 YEARS | 4.64% | 2.99% |
| 5 YEARS | 5.24% | 3.19% |
| 7 YEARS | 6.35% | 3.99% |
| 10 YEARS | 6.75% | 3.99% |
Thursday, March 15, 2012
Home Sales in Interior/North Outpace Province
The British Columbia Real Estate Association (BCREA) reports that the dollar volume of homes sold through Multiple Listing Service® (MLS®) in BC declined 9.6 per cent to $3.4 billion in February compared to the same month last year. A total of 5,923 MLS® residential unit sales were recorded over the same period, a decline of 7.6 per cent. The average MLS® residential price was $574,975 in February, 2.1 per cent lower than in February 2011.
"Sales gains in the interior and the north were offset again in February by less robust demand on the south coast," said Cameron Muir, BCREA Chief Economist. Improving economic conditions in both BC and Alberta are positively influencing consumer demand outside of large urban areas, closing the gap between regional housing markets."
Year-to-date, BC residential sales dollar volume declined 9.2 per cent to $5.5 billion, compared to the same period last year. Residential unit sales dipped 6.8 per cent to 9,828 units, while the average MLS® residential price edged back 2.5 per cent to $557,732 over the same period.
Copyright BCREA Reprinted with permission
Saturday, March 10, 2012
Best Rate Mortgage
| Terms | Bank Rates | Our Rates |
| 6 Month | 4.45% | 4.45% |
| 1 YEAR | 3.20% | 2.74% |
| 3 YEARS | 3.95% | 2.84% |
| 4 YEARS | 4.64% | 3.09% |
| 5 YEARS | 5.24% | 3.25% |
| 7 YEARS | 6.35% | 3.99% |
| 10 YEARS | 6.75% | 3.99% |
Rates are subject to change without notice. *OAC E&OE
Prime Rate is 3.00%
Variable Rates from as low as prime
Spring Tips for Buying a Home
If you’re thinking of buying your first home or upgrading to a new one, the inventory of homes on the market come Spring is definitely plentiful – providing for a great selection of homes to serve your unique needs.
Still, there are also generally more people out looking at homes in the Spring as well. And while some homebuyers feel anxious about securing their dream home as soon as possible, it’s important to take the time to be patient and make sure the home is a good fit for you and your family.
After all, home-buying is likely the largest investment you’ll ever make, and doing your due diligence when determining which house to buy ensures that fewer surprises arise after your moving day.
Following are three top considerations to keep in mind when looking for your new home this Spring:
1. Get preapproved for a mortgage. Not only will this step help you compete against other buyers who have not been preapproved, but it will also ensure you only look at home’s within your price range – saving you the trouble of falling in love with a home you can’t afford. Your mortgage broker or lender will be able to get you preapproved before you start browsing homes.
2. Think about what you need. Jotting down specifics regarding what you “need” in a home – as opposed to what you “want” – will help determine the types of homes you should be viewing. It’s rarely possible, however, to find a perfect home for your needs, tastes and budget. While it’s important to weigh your priorities before you start your home search, it’s equally important to be flexible and willing to change your mind once you see what your true options are – viewing properties can shift your priorities. And remember that if you can only find places that require too many compromises, it’s okay to keep looking – new homes come on the market daily!
3. Look past the staging. Many sellers enlist staging professionals to help sell their homes faster and at a higher price. While this often makes listings more visually appealing to buyers, some major flaws may be covered up through staging. And while minor cosmetic issues can often be overcome with a simple fix such as a coat of paint, larger, more costly issues can arise with a home if you don’t notice poor conditions before you buy. Some things to look for include: leaks around plumbing fixtures and ceilings (thanks to upper floor bathrooms); stains on walls or ceilings; evidence of mould; poor workmanship on flooring, moulding, windows and doors; or aging and worn seals around windows and doors.
Home Buyers' Plan (HBP)
The Home Buyers' Plan (HBP) is a program that allows you to withdraw funds from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. You can withdraw up to $25,000 in a calendar year.
Your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the HBP, or they may not be deductible for any year.
Generally, you have to repay all withdrawals to your RRSPs within a period of no more than 15 years. You will have to repay an amount to your RRSPs each year until your HBP balance is zero. If you do not repay the amount due for a year, it will have to be included in your income for that year.
Thursday, March 8, 2012
Nest Building Workshop
Find Your Inner Interior Designer during this two-day Nest Building workshop with author and consultant, Kate Bridger.
This workshop offers a combination of design psychology mixed in with a reassuring dose of pragmatism. It is the course to take at any stage during your home-making or renovation journey whether you intend to hire outside expertise or not.
The sessions will include exercises and discussions to help you discover why you hang on to certain objects and attitudes; why particular colours please or trouble you; how to work with and appreciate what you have; and how to bring harmony to your life and to the lives of those you live with.
The objectives of the two-day course are to reacquaint you with your personal designer history, fine-tune your aesthetic awareness and carve out a fulfilling path to help bring you home to a place that not only looks good, but feels right just for you.
This workshop will take place on April 21 & 22 from 10 a.m. to 4 p.m. each day at 402 Baker Street (upstairs in the Kootenay Real Estate Board meeting room) in Nelson.
Register soon to take advantage of the 'early bird' rate. For more information, please visit: http://www.katebridger.ca/Pages/Workshops.html, or contact Kate directly at: kbridger@telus.net or 250-352-4653.
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