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homeThe Bank of Canada left the overnight rate at 0.25%. Once again, the central bank gave a conditional commitment to keep the policy rate at its current level “until the end of the second quarter of 2010″ in order to ensure that inflation stays on course to meet the medium-term target. Continued…
Posted in General, Housing Market/Real Estate News, Interest Rate News.
Dealing with debt by accelerating your mortgage payments can be a very smart, efficient, and successful way of paying down your mortgage, while paying less in interest.
There are a couple of ways to do this effectively. First, commit to the lowest amortization period you can while still being able to make the payments and qualify for the mortgage amount you require. The lower your amortization period is (25 years versus 35 years), the higher your payments, but the less you will pay in interest over the life of your mortgage.
Continued…
Posted in Financial Advice, General, Managing Your Mortgage.
Many people in these days of the “credit crunch”, are asking: “How can I use my mortgage to help pay off my other debt?” For many people that have a current mortgage, using the equity in your home can be one of the best ways to clean-up your debt and roll your payments into one low interest payment…your mortgage! Continued…
Posted in Financial Advice, General, Managing Your Mortgage.
The expectation of decent job numbers for Canada and the US were met with disappointment when the numbers were released on Friday. The expectation was for Canada to have gained jobs, as we did in November, and the US to stay steady. What actually came through from December was vastly different.
Continued…
Posted in General, Housing Market/Real Estate News.
HST Decoded
On July 1, 2010 HST will replace GST on New Home Purchases. However, there is a phase in period that must be understood in order to accurately budget for your new home.
If the date of purchase contract is on or before November 18, 2009, GST (5%) will be applied with the same exemptions as have previously been stated, regardless of completion date. If the purchase is made (contract signed) after November 18, 2009, GST (5%) will be applied ONLY if completion is before July 1, 2010. If completion occurs after July 1, 2010, HST (12%) will be applied.
All contracts signed after July 1, 2010 will be subject to HST (12%). Continued…
Posted in General, Housing Market/Real Estate News, Managing Your Mortgage.
We have all heard about the looming HST, but how does it effect the purchase of real estate in British Columbia? Below are some guidelines as to how HST will effect the purchase price of new homes and when to close on new homes to avoid the HST. Continued…
Posted in Financial Advice, General, Housing Market/Real Estate News.
Happy New Year Everyone!!
It is our hope at Silverman Mortgage Group that everyone enjoyed a great holiday season and you are all ready for an amazing 2010!
We are starting the new year off with historically low interest rates. This being said, with the loonie rising to the highest level since October and the spread between today’s low interest rates and the bond yields, rates will be trending upwards in the near future.
If you or anyone you know are in the market to purchase a new home, refinance your current mortgage, renew your current mortgage or pull some equity from your current home now is the time!!
If you are actively in the market, get your pre approval’s in ASAP as you can hold today’s rates for up to 180 days.
Click on the rate link to see today’s rates.
Posted in Financial Advice, General, Interest Rate News, Managing Your Mortgage.
William Hanley, Financial Post
For a close friend of more than 40 years, Christmas is coming Oct. 1.
That’s when, a day before his 65th birthday, he retires after 49 years of working life, most of it spent in journalism.
“I’m like a kid looking forward to Christmas,” he says. “In fact, this will be better than Christmas.”
His will be a good retirement, with seven different pensions adding up nicely to ease the way in what should be his golden years. (He will have the OAS, CPP, a small British government pension and four modest defined-benefit pensions from various employers over the years.)
Posted in Financial Advice, General.
August 18th – Canadian 5 yr bond yields -.08bps to 2.50. The spread, based on 5 yr rate of 4.29% is 1.79.
August 17th – Canadian 5 yr bond yields -.03bps to 2.58. The spread, based on 5 yr rate of 4.29% is 1.71.
August 13th – Canadian 5 yr bond yields -.05bps to 2.61. The spread, based on 5 yr rate of 4.29% is 1.68. Continued…
Posted in Interest Rate News, Managing Your Mortgage.
Reprint from Langley Times Wednesday August 12, 2009 B6
There is still a lot of confusion around the eligibility for the Federal Home Renovation Tax Credit. At this time, the credit has not been legislated in the Income Tax Act, nor has draft legislation been released, but some information is available on the Federal website. A recap of eligible and ineligible expenses are listed below. Continued…
Posted in Financial Advice, General.
Zach Silverman, Senior Mortgage Advisor, Origin-Silverman Mortgage Group
I was born and raised in Langley, B.C., where I went to school, played hockey and played golf. From there, I went on to play professional golf in the U.S. I now live in Langley with my wife and dog. I still enjoy golfing, playing hockey and spending time with my family. continue...
Scott Moe,Real Estate Agent, Remax Treeland
Real estate to me is not just about selling houses, it is about helping families achieve their goals. My philosophy is that if I truly help people and provide them with incredible service and advice, that sales will undoubtedly be the result. continue...
Mike Morisset, Mortgage Advisor, Origin-Silverman Mortgage Group
Coming from a background in sports and sales, I believe that being a Mortgage Advisor marries these two passions of my perfectly. Born and raised in Langley, BC I spent my whole childhood and into my twenties playing hockey. continue...
