14 Sep

Mortgage Market Update


Posted by: Cory Kline

With heightened concerns on possible defaults in Europe, Our bond hit a new low for 2011. So far we have not seen any lender’s drop their fixed rates.

Fixed rates continue to be at record lows.

If you have a variable rate of any more than prime or prime + or a fixed rate of 4.50% or more, we should explore the merits of refinancing to a lower rate. 

Contact us for a free, no obligation review. Spending a few minutes could save you thousands of dollars. 

These low rates are historical lows, making now a great time to buy or refinance.

Bank prime is at 3.00%

The next meeting of the Bank of Canada is on October 25, 2011.

7 Sep

The Ant Philosophy


Posted by: Cory Kline

I read a neat article yesterday called The Ant Philosophy by Jim Rohn.  See Below…

I think everybody should study ants.  They have an amazing four-part philosophy.  Here is the first part: ants never quit.  That’s a good philosophy. If they’re headed somewhere and you try to stop them, they’ll look for another way. They’ll climb over, they’ll climb under, they’ll climb around.  They keep looking for another way.  What a neat philosophy, to never quit looking for a way to get where you’re supposed to go.

Second, ants think winter all summer.  That’s an important perspective.  You can’t be so naive as to think summer will last forever.  So ants are gathering their winter food in the middle of the summer.

The third part of the ant philosophy is that ants think summer all winter.  That is so important,  During the winter, ants remind themselves, “This won’t last long- we’ll soon be out of here.”  And the first warm day, the ants are out.  If it turns cold again, they’ll dive back down, but then they come out the first warm day.  They can’t wait to get out.

And here’s the last part of the ant philosophy.  How much will an ant gather during the summer to prepare for the winter?  All he possibly can.  What an incredible philosophy, the “all-you-possibly-can” philosophy.

Wow, what a great philosophy to have – the ant philosophy.  Never give up, look ahead, stay positive and do all you can.

Working consistently and working smart is so important, but it is often very difficult for us humans, as life often throws us curve balls and challenges.   


7 Sep

Today’s Bank of Canada Announcement


Posted by: Cory Kline

There was no change in the Bank of Canada rate today. This was largely expected.

They spoke of the following changes in their previous projections.

“Increase in the European sovereign debt crisis”.
“The U.S. recession was deeper and recovery shallower than previously reported”
“Canadian economic growth stalled in the second quarter”.
“The Bank expects the total CPI inflation to continue to moderate”.
Of most importance they say “in light of slowing global economic momentum and heightened financial uncertainty, the need to withdraw monetary policy stimulus has diminished”.

In summary, no upward changes expected for now in the prime rate. I would not be surprised to see a rate drop if the global situation does not change.

At this point variable rate mortgages remain an extremely attractive option for those with the toleration for risk. We would strongly recommend that you read the full report from the bank of Canada.

The next Bank of Canada Announcement is scheduled for October 25, 2011 

Bank prime is 3.00%

P.S. If you have any questions as to what this means to your mortgage, we are always here to help you with unbiased advice.