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Category Archives: First Time Home Buyer

Good morning

 

As you know, your variable rate mortgage, line 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. The Bank of Canada has increased their Overnight Rate by 0.25%. When this happens, it typically means that your Prime Rate is going to increase as well but not always by the same amount. It can also mean that not every lender will adjust their prime rate the same way. Keep an eye out later today for further updates on your lender’s prime rate.

Recent economic data has been strong and there were a number of jobs added last month hence the Bank increasing their rate again so quickly! They are definitely keeping on track with their mandate to get interest rates back to normal levels. You have to admit that we have had it good for a long time and we can still continue to benefit from low rates so don’t panic!

Last year we saw two rate increases, each of 0.25%, and this is our second rate increase this year as the Bank attempts to get interest rates back to their traditional average. You might be concerned about your cash flow and budgeting at this point and might be considering moving over to a fixed term mortgage. Fixed term interest rates have decreased slightly with a range of 3.09% to 3.39% for a five-year fixed term. Don’t forget that if you want to lock in you can take a shorter term that will typically have a lower rate attached to it. If the net interest rate on your current variable is the same as or higher than the current fixed term rates right now, even though the prime rate will still remain low for a while now, it might be time to chat about your options including potentially converting to a fixed term.

Converting to a fixed term isn’t right for everyone as other factors are to be taken into consideration such as payment change, income and future plans such as renovating, moving etc. Call me so I can calculate what your new payment would look like and also if it is suitable for you.

Have you really made the most of the low payments you have had?   How much do you have saved up or how closer are you to your mortgage burning party because you have made extra payments on your mortgage?  Or maybe you just got a little carried away and have some high interest credit carddebt that you can’t seem to pay off in full each month.

 

Don’t worry, if you aren’t as far ahead as you would like to be, we can work together to create a plan to get you back on track, the new year is a great time to work on setting goals and developing a strategy!

To continue with the Bank of Canada news, here is an excerpt of the announcement and what they had to say about the current market conditions:

 “The US economy is proving stronger than expected, reinforcing market expectations of higher policy rates and pushing up the US dollar. This is contributing to financial stresses in some emerging market economies. Meanwhile, oil prices have risen. Yet, the Canadian dollar is lower, reflecting broad-based US dollar strength and concerns about trade actions. The possibility of more trade protectionism is the most important threat to global prospects.

Canada’s economy continues to operate close to its capacity and the composition of growth is shifting. Temporary factors are causing volatility in quarterly growth rates.  Household spending is being dampened by higher interest rates and tighter mortgage lending guidelines. Recent data suggest housing markets are beginning to stabilize following a weak start to 2018. Meanwhile, exports are being buoyed by strong global demand and higher commodity prices. Business investment is growing in response to solid demand growth and capacity pressures, although trade tensions are weighing on investment in some sectors. Overall, the Bank still expects average growth of close to 2% over 2018-2020.

CPI and the Bank’s core measures of inflation remain near 2%, consistent with an economy operating close to capacity. The Bank estimates that underlying wage growth is running at about 2.3%, slower than would be expected in a labour market with no slack.

As in April, the projection incorporates an estimate of the impact of trade uncertainty on Canadian investment and exports. This effect is now judged to be larger, given mounting trade tensions.  The July projection also incorporates the estimated impact of tariffs on steel and aluminum recently imposed by the United States, as well as the countermeasures enacted by Canada. Although there will be difficult adjustments for some industries and their workers, the effect of these measures on Canadian growth and inflation is expected to be modest.

Despite some volatility, it looks like they expect that higher interest rates are warranted to keep inflation near target; they will continue to take a gradual approach to future increases based on the economy’s adjustment to these higher rates, the evolution of capacity, wage pressures and trade actions to and from the US. Based on this it should be a while before they have another increase, but we will keep a close watch.

I wonder if I can ask a favour; if you hear a friend or family member talk about going through 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.

 

I’ll be in touch again for the next announcement on September 5th, 2018.

 

Yours truly,

Eva Neufeld AMP – Accredited Mortgage Professional
Verico Mortgage Tailors
(780) 244-0505

 

Bank of Canada Announcement

Good Day!

 

As you know, your variable rate mortgage, line 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 May 30, 2018, the Bank of the Canada againmaintained their overnight rate which means no change to your interest rate.   Let’s not forget that interest rates are still low and this is a great time to take advantage.  As the spring market has been in full swing right now here are a few things that might’ve been on your mind lately.

News & media. There has been A LOT of buzz in the past few weeks about the housing market taking a major plummet. One of the key factors I have been discussing is how 2017 was an outlier year. Meaning these numbers were so far off trend they are skewing results and thereby allowing the media to develop a news frenzy on how the housing market is plummeting. Remember if you compare this year so far with any other year we are pretty on trend for standard growth and days on market. Keep this in mind when you make any real estate decisions this year.

Renewals.After all the regulation changes at the end of 2017, nobody was really sure of what the effect would be on upcoming renewals. After monitoring the trends this spring, it has become apparent that lenders are taking advantage of your qualifying position and are sometimes using this to their advantage. Moral of the story is I am still here to work with to find the best options, whether that is staying with your current lender or moving. What is essential to this strategy is having a plan! If you have a mortgage renewal coming up this year, reach out to me now and let’s start exploring

what your options are and how we can get you closer to your goals! I have some really amazing options from lenders that can making switching an option for you!

It’s time to chat about your options! It is never too late, or early, to start planning. Chat to me about your options, I’d be happy to make your plans become a reality.

To continue with the Bank of Canada news, here is an excerpt of the announcement and what they had to say about their decision:

“Global economic activity remains broadly on track with the Bank’s forecast. Recent data points to some upside to the outlook for the US economy. At the same time, ongoing uncertainty about trade policies is dampening global business investment and stresses are developing in some emerging market economies. Global oil prices have been higher than assumed in April, in part reflecting geopolitical developments.

Inflation in Canada has been close to the 2% target and will likely be a bit higher in the near term than forecast in April, largely because of recent increases in gasoline prices. Core measures of inflation remain near 2%, consistent with an economy operating close to potential. As usual, the Bank will look through the transitory impact of fluctuations in gasoline prices.

Activity in the first quarter appears to have been a little stronger than projected.  Exports of goods were more robust than forecast, and data on imports of machinery and equipment suggest continued recovery in investment. Housing resale activity has remained soft into the second quarter, as the housing market continues to adjust to new mortgage guidelines and higher borrowing rates. Going forward, solid labour income growth supports the expectation that housing activity will pick up and consumption will continue to contribute importantly to growth in 2018.”

Overall, to keep inflation near target, the bank continues its assessment that they will take a gradual approach to rates increasing guided by incoming data – something that we have all known for a long time!  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 term interest rates have fluctuated up and down a bit over the last four weeks with a range of 3.39% to 3.59% for a five-year fixed term – but three-year terms in the 3.09% to 3.19% range.  Don’t forget that if you want to lock in you can take a shorter term that will typically have a lower rate attached to it.  If the net interest rate on your current variable is the same as or higher than the current fixed term rates right now, even though the prime rate will still remain low for a while now, it might be time to chat about your options including potentially converting to a fixed term.  Converting to a fixed term isn’t right for everyone as other factors are to be taken into consideration such as payment change, income and future plans such as renovating, moving etc.

 

Based on this recent announcement, and the anticipation that the prime rate will remain low through the spring market, I’d recommend that you remain with your current variable rate product as the interest is still 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. I’ll be in touch again for the next announcement on July 11, 2018.

 

I wonder if I can ask a favour; It is that time of year that many think about what they want to accomplish this year – if buying their first home is on the “wish list”, would you mind passing my contact information on to them.  With all the hot markets out there now, and changes to mortgage legislation, there is a lot of confusion especially amongst our first-time home buyers and my specialty is walking them thru the steps with ease!  This is very much appreciated.

 

Yours truly,

 Eva Neufeld
Mortgage Tailors
(780) 244-0505

 

 

Bank of Canada Announcement

Good morning

 

As you know, your variable rate mortgage, line 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 March 7, 2018, the Bank of Canada maintained their overnight rate which means no change to your interest rate.   This is great news for you to go into the spring with confidence that you continue to save unnecessary interest.

Spring is in the air and you might be thinking about some changes you want to make to your living situation. This might be Buying or Moving Up or Down or deciding to Renovate.

If this spring is the time that you really want to focus on Buying – even getting on to the property ladder for the first time – let’s start planning now.  We can get you Pre-Approved ensuring that you benefit from both low interest rates and affordable payments as well as also putting yourself in a stronger negotiating position with a potentially hot market.

If you are thinking of selling, either Moving Up or Down, great planning is key. Questions you might be asking yourself are:

  • Buy then sell?
  • Sell then buy?
  • Should you take your existing mortgage with you?
  • Are there better options available?

Let’s talk – a pro bono assessment can easily answer all of these questions and more!

Maybe you are thinking of staying put but have some Renovation plans. Renovations are a great option for adding value and updating your current home. These renovations might include:

  • Finishing a basement
  • Renovating your kitchen
  • Putting on an addition
  • … and more

I can provide you financing options to help you convert your current space into a dream home. These financing solutions can make these renovations happen with ease.

In Canada, the economy grew by 3% in 2017, bringing the level of real GDP in line with the projection in the Bank’s Report.  In Q4, GDP growth was slower than expected, largely due to higher imports, while exports made only a partial recovery from their Q3 decline. The gain in imports mainly reflected stronger business investment, which adds to the economy’s capacity.

Strong housing data in late 2017, and softer data at the beginning of this year, indicate some pulling forward of demand ahead of new mortgage guidelines and other policy measures. It will take some time to fully assess the impact of these, as well as recently announced provincial measures, on housing demand and prices.

Inflation is running close to the 2% target and the Bank’s core measures of inflation have edged up, consistent with an economy operating near capacity. Wage growth has firmed but remains lower than would be typical in an economy with no labour market slack. Inflation is fluctuating because of temporary factors related to gasoline, electricity, and minimum wages.

While the economic outlook is expected to warrant higher interest rates over time, the bank is remaining cautious in considering future increases for now. They are still monitoring the economy’s sensitivity to past interest rate increases, economic capacity, and the dynamics of government policy in both wage growth, inflation and the housing market.  Basically, it is too early to tell when the next increase will be but likely later in the year.  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 have gone up since the last announcement, but some volatility in the bond market in the last 10 days indicates they may actually drop in the next few days.  For now, they are around 3.19% to 3.49% for a five-year fixed term.  Also, remember that the prime rates and fixed term rates are impacted by two different sets of economic drivers and so increases in fixed rates doesn’t always mean the same increase in prime rates and vice versa.

Based on this recent announcement, I would still advise remaining in your variable rate mortgage product, however as interest rates have been increasing for the last few announcements, I would keep up with your increased monthly payments. 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. I’ll be in touch again for the next announcement on April 18, 2018.

I wonder if I can ask a favour, if you hear a friend or family member talk about going through a financially tough time, maybe I can help with some budgeting, credit counselling and debt consolidation options for them.  If buying their first home is on the “wish list”, would you mind passing my contact information on to them – this is very much appreciated.

 

Yours truly,

Eva Neufeld
Mortgage Tailors
(780) 244-0505
eva@mortgagetailors.com
http://www.mortgagetailors.com

 

Bank of Canada Makes Change

 

Good morning

 

Firstly, a very Happy New Year to you and your family – if one of your New Year’s Resolutions was to get back on track with your financial goals, now is a perfect time.  This is the first of many announcements this year about potential interest rate changes that could impact a majority of your current and future borrowing plans. My New Year’s resolution is to help ensure that the impact of interest rate changes to you is minimal. I can provide you with strategies to ensure more of your hard-earned cash stays in YOUR pockets and doesn’t line someone else’s!

 

As you know, your variable rate mortgage, line 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. As predicted, the Bank of Canada has increased their Overnight Rate by 0.25%. When this happens, it typically means that your Prime Rate is going to increase as well, but not always by the same amount. It can also mean that not every lender will adjust their prime rate the same way. Keep an eye out later today for further updates on your specific lenders’ prime rate.

 

Recent economic data has been stronger than expected hence a surprise to see the Bank increase their rate again so quickly; we haven’t seen that in over 10 years!  You have to admit that we have had it good for a long time and we can still continue to benefit from low rates and don’t panic!

 

Last year we saw two rate increases, each of 0.25%, and it is predicted to be a few rate increases again this year as the Bank attempts to get interest rates back to their traditional average. You might be concerned about your cash flow and budgeting at this point and might be considering moving over to a fixed term mortgage. Fixed term interest rates have increased slightly with a range of 3.19% to 3.49% for a five-year fixed term.  Don’t forget that if you want to lock in you can take a shorter term that will typically have a lower rate attached to it.  If the net interest rate on your current variable is the same as or higher than the current fixed term rates right now, even though the prime rate will still remain low for a while now, it might be time to chat about your options including potentially converting to a fixed term.  Converting to a fixed term isn’t right for everyone as other factors are to be taken into consideration such as payment change, income and future plans such as renovating, moving etc.  Call me so I can calculate what your new payment would look like and also if it is suitable for you.

Have you really made the most of the low payments you have had?   How much do you have saved up or how closer are you to your mortgage burning party because you have made extra payments on your mortgage?   Or maybe you just got a little carried away and have some high interest credit card debt that you can’t seem to pay off in full each month.

 

Don’t worry, if you aren’t as far ahead as you would like to be, we can work together to create a plan to get you back on track, the new year is a great time to work on setting goals and developing a strategy!

To continue with the Bank of Canada news, here is an excerpt of the announcement and what they had to say about the current market conditions:

 “Consumption and residential investment have been stronger than anticipated, reflecting strong employment growth. Business investment has been increasing at a solid pace, and investment intentions remain positive. Exports have been weaker than expected although, apart from cross-border shifts in automotive production, there have been positive signs in most other categories.

Looking forward, consumption and residential investment are expected to contribute less to growth, given higher interest rates and new mortgage guidelines, while business investment and exports are expected to contribute more. The Bank’s outlook takes into account a small benefit to Canada’s economy from stronger US demand arising from recent tax changes. However, as uncertainty about the future of NAFTA is weighing increasingly on the outlook, the Bank has incorporated into its projection additional negative judgement on business investment and trade.

The Bank continues to monitor the extent to which strong demand is boosting potential, creating room for more non-inflationary expansion. In this respect, capital investment, firm creation, labour force participation, and hours worked are all showing promising signs. Recent data show that labour market slack is being absorbed more quickly than anticipated. Wages have picked up but are rising by less than would be typical in the absence of labour market slack.”

As you see they are still concerned about the over inflated housing market we experienced in recent years as well as consumer debt. However, with NAFTA trade talks still underway, they are concerned about the potential impact on business and investment in the Canadian economy.

I wonder if I can ask a favour; Going with my theme of “New Year Financial Goals” if you hear a friend or family member talk about going through 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.

 

I’ll be in touch again for the next announcement on March 7th, 2018.

 

Yours truly,

Eva Neufeld
AMP – Accredited Mortgage Professional
Mortgage Tailors
(780) 244-05005
http://www.mortgagetailors.com

 

 

 

Bank of Canada Announcement

 

Good morning

 

Holiday cheer is in the air and let’s make 2018 better than ever for you and your family.

 

As you know, your variable rate mortgage, line 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 December 6, 2017, the Bank of Canada maintained their overnight rate which means no change to your interest rate. I know you may be feeling the impact of the rate changes earlier in 2017, but you can feel at ease that your rate will stay the same for now.

 

As we discussed previously this year, there have been several changes to the mortgage regulations this fall, which affect your purchasing power and flexibility in your mortgage product. These changes will impact your plans for borrowing funds in the future – whether it is refinancing to maximize the low interest rates and equity in your home, purchasing rental properties or moving up into a bigger home? You can of course always opt to stay with your current mortgage product and just renew, however this gives your lender the upper hand and doesn’t allow you the ability to shop around!  Ultimately this new guideline will negatively affect your ability to access the equity in your home! Equity that you have built up, by paying down your mortgage and consistently making your payments. If you have goals of accessing this cash, then please reach out to me now!

 

Call me now for a pro bono consultation to review your current financial situation and let’s start planning for your future now. These legislation changes don’t come into effect until January 1, 2018, so let’s get started on a plan RIGHT NOW!

To continue with the Bank of Canada news, here is an excerpt of the announcement and what they had to say about their decision today:

“Recent Canadian data are in line with October’s outlook, which was for growth to moderate while remaining above potential in the second half of 2017. Employment growth has been very strong and wages have shown some improvement, supporting robust consumer spending in the third quarter. Business investment continued to contribute to growth after a strong first half, and public infrastructure spending is becoming more evident in the data. Following exceptionally strong growth earlier in 2017, exports declined by more than was expected in the third quarter. However, the latest trade data support the MPR projection that export growth will resume as foreign demand strengthens. Housing has continued to moderate, as expected.

Inflation has been slightly higher than anticipated and will continue to be boosted in the short term by temporary factors, particularly gasoline prices. Measures of core inflation have edged up in recent months, reflecting the continued absorption of economic slack. Revisions to past quarterly national accounts have resulted in a higher level of GDP. However, this is unlikely to have significant implications for the output gap because the revisions also imply a higher level of potential output. Meanwhile, despite rising employment and participation rates, other indicators point to ongoing� – albeit diminishing – slack in the labour market.”

 

Based on this outlook, the Bank estimates that the economy’s growth is still moderate and they want to operate with a conservative approach to monetary policy. They do indicate that higher interest rates will be required over time, but they want to remain cautious in their approach when increase rates.

 

Fixed rates haven’t really changed at all since the last announcement, and are around 3.09% to 3.39% for a five-year fixed term.

 

Currently variable rate products are still lower than current fixed term rates, however if concern regarding impending rate increases is going to affect your monthly budget, locking in now might be a good option. Call me to book a pro bono consultation and let’s discuss your current financial situation. I’ll be in touch again for the next announcement on January 17, 2018.

 

I wonder if I can ask a favour; this time of year can be really tough for many that are not as financially fortunate as us. No matter their situation; whether it is mountains of debt that they can’t get a handle on, low income or even unemployed… I can help.  If you hear a colleague, friend or family member talk about going through a financially tough time would you mind letting them know I might be able to help.  I can assist home owners by helping them access their equity to get them back on their financial feet and relieve some stress.  My expertise will help with budgeting, credit counselling or debt consolidation. If you would be so kind as to pass along my contact information on to anyone who might need a helping hand – I’ll provide a pro bono consultation to provide some great options on how I can help!

 

Eva Neufeld

AMP – Accredited Mortgage Professional
Mortgage Tailors
(780) 244-0505
Email:  eva@mortgagetailors.com

 

BANK OF CANADA MAINTAINED THEIR RATE

Good morning

 

The leaves are falling, but the sky is not! We know this year has had a lot of changes in the lending landscape, so let’s chat about what this means for you!

 

As you know, your variable rate mortgage, line 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 October 25, 2017, the Bank of Canada maintained their overnight rate which means no change to your interest rate. I know you may be feeling the impact of the rate changes earlier in 2017, but you can feel at ease that your rate will stay the same for now.

 

In the last few weeks there have been additional changes in the mortgage legislation and qualifying guidelines all in the hope of maintaining stability in the real estate market as well as ensuring home owners and those with significant debt can handle future interest rate increases. These changes will impact your plans for borrowing funds in the future – whether it is refinancing to maximize the low interest rates and equity in your home, purchasing rental properties or moving up into a bigger home?  Call me now for a pro bono consultation to review your current financial situation and let’s start planning now. These legislation changes don’t come into effect until January 1, 2018, so let’s make sure we get you prepared now and ensure the changes won’t impede your future borrowing plans.

 

To continue with the Bank of Canada news, here is an excerpt of the announcement and what they had to say about their decision today:

 

“Canada’s economic growth in the second quarter was stronger than expected, and was more broad-based across regions and sectors. Growth is expected to moderate to a more sustainable pace in the second half of 2017 and remain close to potential over the next two years, with real GDP expanding at 3.1 per cent in 2017, 2.1 per cent in 2018 and 1.5 per cent in 2019. Exports and business investment are both expected to continue to make a solid contribution to GDP growth. However, projected export growth is slightly slower than before, in part because of a stronger Canadian dollar than assumed in July. Housing and consumption are forecast to slow in light of policy changes affecting housing markets and higher interest rates. Because of high debt levels, household spending is likely more sensitive to interest rates than in the past.

 

The Bank estimates that the economy is operating close to its potential. However, wage and other data indicate that there is still slack in the labour market. This suggests that there could be room for more economic growth than the Bank is projecting without inflation rising materially above target.  Governing Council will be cautious in making future adjustments to the policy rate. In particular, the Bank will be guided by incoming data to assess the sensitivity of the economy to interest rates, the evolution of economic capacity, and the dynamics of both wage growth and inflation.”

 

Based on this outlook, the Bank estimates that the economy is operating close to its full potential.  But they have indicated that they will be cautious in making future increases in order to determine the impact of the adjustments earlier this year. Remember, taking advantage of these low rates is a great way to pay down your mortgage faster!

 

Fixed rates haven’t really changed at all since the last announcement, and are around 3.09% to 3.39% for a five-year fixed term.

 

Currently variable rate products are still lower than current fixed term rates, however if concern regarding impending rate increases is going to affect your monthly budget, locking in now might be a good option. Call me to book a pro bono consultation and let’s discuss your current financial situation. I’ll be in touch again for the next announcement on December 6, 2017.

 

I wonder if I can ask a favour, going with my theme of “Let the sun set and the leaves fall along with Canadian consumer debt with our help” 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.

 

 

Yours truly,

 

Eva Neufeld AMP
Mortgage Tailors
(780) 244-0505
http://www.mortgagetailors.com

 

Bank of Canada makes a change

As you know, your variable rate mortgage, line 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. To everyone’s surprise, the Bank of Canada has increased their Overnight Rate by 0.25%. When this happens, it typically means that your Prime Rate is going to increase as well but not always by the same amount. It can also mean that not every lender will adjust their prime rate the same way.  Keep an eye out later today for further updates on your specific lenders’ prime rate.

 

Recent economic data has been stronger than expected hence a surprise to see the Bank increase their rate again so quickly; we haven’t seen that in over 10 years!  You have to admit that we have had it good for a long time and we can still continue to benefit from low rates and don’t panic!

 

We have seen two increases in the last three months, and even though it is only 0.25%, this second increase may start to impact your monthly budgeting and cash flow.   Fixed term interest rates are still super low with five-year fixed rates in the 2.99% to 3.09% range.  If the net interest rate on your current variable is the same as or higher than the current fixed term rates right now, even though the prime rate will still remain low for a while now, it might be time to chat about your options including potentially converting to a fixed term.  Converting to a fixed term isn’t right for everyone as other factors are to be taken into consideration such as payment change, income and future plans such as renovating, moving etc.  Call me so I can calculate what your new payment would look like and also if it is suitable for you.

 

Have you really made the most of the low payments you have had?   How much do you have saved up or how closer are you to your mortgage burning party because you have made extra payments on your mortgage?   Or maybe you just got a little carried away and have some high interest credit card debt that you can’t seem to pay off in full each month.

Don’t worry, if you aren’t as far ahead as you would like to be, we can work together to create a plan to get you back on track… so back to school isn’t just for the kids…us adults can benefit from going to back to the drawing board with our finances, savings and future financial wealth goals.

To continue with the Bank of Canada news, here is an excerpt of the announcement and what they had to say about their decision:

 “Recent economic data have been stronger than expected, supporting the Bank’s view that growth in Canada is becoming more broadly-based and self-sustaining. Consumer spending remains robust, underpinned by continued solid employment and income growth.  There has also been more widespread strength in business investment and in exports. Meanwhile, the housing sector appears to be cooling in some markets in response to recent changes in tax and housing finance policies… the level of GDP is now higher than the Bank had expected.

The global economic expansion is becoming more synchronous, as anticipated in July, with stronger-than-expected indicators of growth, including higher industrial commodity prices. However, significant geopolitical risks and uncertainties around international trade and fiscal policies remain, leading to a weaker US dollar against many major currencies. In this context, the Canadian dollar has appreciated, also reflecting the relative strength of Canada’s economy.”

 

I wonder if I can ask a favour; Going with my theme of “Let the sun set and the leaves fall along with Canadian consumer debt with our help” 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.

 

I’ll be in touch again for the next announcement on October 25, 2017.

 

Yours truly,

 

Eva Neufeld
Mortgage Tailors
(780) 244-0505