If you are looking for something to do with the family, check out this link!
Wednesday, June 22, 2011
Wednesday, June 15, 2011
TD BANK FORECASTS LOW INTEREST RATES THIS YEAR
OTTAWA — The TD Bank says Canadians can expect borrowing costs to remain near record lows for the rest of the year.
That’s because the pace of the economic recovery is expected to slow sharply in Canada, the United States and much of the world.
As such, the Bank of Canada will likely refrain from raising its key interest rates until 2012, TD says.
The central bank has had its policy rate set at one per cent since September. The rate was set at all-time low of 0.25 per cent through much of the recession, to stimulate borrowing and spending, until a series of rate hikes began last summer.
The still-low rates have been a double-edged sword for Canadians who are already piling up debt at record levels, according to the Certified General Accountants Association of Canada.
The association says Canadian household debt has reached a record $1.5 trillion, and calculates that more than half of indebted Canadians are borrowing just to afford day-to-day living expenses such as food, housing and transportation.
Low interest rates will make it easier for Canadians to keep borrowing, setting them up for a fall further down the road.
Debt is partly contributing to a slowdown in Canadian growth, says the TD Bank, because households are too tapped out to spend and stimulate the economy.
The bank says Canada’s economy is believed to have already slowed to 1.3 per cent growth during this current quarter that ends at the end of the month, one-third the pace of the first quarter’s 3.9 per cent gain.
The rest of the year will see growth crawl along between two and 2.5 per cent, the bank says.
As the recovery moderates, so will job growth. The bank says it expects the unemployment rate in Canada will remain above seven per cent throughout its forecast period to the end of 2013.
With little help from consumers, Canada will need to depend on exports and business investment to fuel growth.
Friday, June 10, 2011
JUNE NEWSLETTER FROM CLARE DEJONG
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Now that summer's just around the corner, it's time to think about getting away. If you’re wishing to purchase your own cottage or vacation property, we've got some important points to consider. We also have some great ideas on how to plan the perfect camping trip as well as a few simple tips that'll make your home appear much more spacious. Thanks for checking out this month's newsletter. Please click the "Share on Facebook" button so your friends and family can check it out too! 
Residential sales activity recorded through the MLS® System of the Real Estate Board of Cambridge Inc. came in above year-ago levels in May 2011 reaching the highest level for May sales since the all-time record was set in 2007. According to the Board’s statistics, home sales numbered 311 units in May, rising 12% from levels in May 2010.
There’s something special about owning your very own piece of paradise whether it’s a ski chalet, a cabin in the woods or a luxurious cottage. Here are some important points to consider when purchasing a vacation home: 
Camping's a great way to bond with nature! Memories of roasting marshmallows around a crackling fire will last a lifetime but it's important to remember a few safety tips such as: 
When it comes to selling your home, it’s often the small things that make a big difference. Here are two very simple tips that’ll make your home seem more spacious: Thursday, June 9, 2011
CONVENTIONAL MORTGAGES STILL POPULAR
Canadians are surprisingly conservative on the mortgage front despite a decade of low interest rates, according to a survey commissioned by ING DIRECT. The poll found more than a third (36%) of Canadians have conventional mortgages, and three quarters (75%) have mortgages with amortizations of 25 years or less. Ontarians have the highest proportion of conventional mortgages at 41%, followed by Alberta (31%) and Quebec (27%). More than half of Canadians (53%) plan to pay off their mortgage sooner than their amortization period. Almost three quarters of respondents (71%) chose rate as the most important factor in selecting a mortgage provider.
from OREA
Friday, June 3, 2011
When is a Good Time of Year to List Your Home?
Sales peak in April and May as families want to move into their new home before Labour Day. June and July are strong months. Sales lag in August and surge in September and October. They drop in winter as buyers and sellers focus on the holidays.
Some sellers take advantage of winter to put their home on the market as there is less competition. But the market ups and downs are not merely seasonal. For instance, new government regulations for mortgages and interest rates may generate a sudden market reaction.
You must always monitor your local market and rely on your REALTOR's advice.
From zoocasa
Wednesday, June 1, 2011
Drop in mortgage rates likely to last for a while
Shutterstock By Madhavi Acharya-Tom Yew | Mon May 30 2011
Canada’s big banks have cut their residential mortgage rates, likely for the last time in the foreseeable future, economists say.
The bank cut rates by one-tenth of a percentage point on mortgages terms ranging from one to 10 years.
That puts the rate for a five-year closed mortgage at 5.49 per cent at each of Canada’s major banks.
The Bank of Montreal, Royal Bank of Canada, TD Canada Trust, and Scotiabank announced reductions last week.
Canadian Imperial Bank of Commerce followed suit on Monday.
Long-term interest rates are falling because of concerns about the health of the global economy, coupled with the likelihood that the Bank of Canada will hold off on raising its key overnight rate until well into the second half of this year.
“As a result, bond yields have come down, and that’s helped bring down mortgage rates,” Doug Porter, deputy chief economist at BMO Capital Markets, said in an interview.
Are more rate cuts on the horizon?
“I think we’re getting down to about as low as we can get on some long-term interest rates. Eventually the Bank of Canada will start to nudge up interest rates,” Porter said, adding that rates are likely to remain low in the coming months.
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