REVISED RATE BULLETIN!

AS OF TODAY:  VARIABLE RATE @ 1.95% (Prime -.30%)

Call John @ (604) 710-1500!

RATE BULLETIN! 5yr Fixed Rate @ 3.79% / 5yr Variable @ 2.00%

SMART PLANNING NOW WILL SAVE YOU $$$

If you’re currently in a Variable Rate mortgage and are considering converting to a Fixed product… STOP! I may be able to:

1. Pay out your penalty.
2. Get you a brand new 5 yr+ Product. (If you have 2-3 years left on your mortgage, do you really want to renew your mortgage when rates could potentially be a lot higher in a few years?)
3. Get an interest rate that is much lower than the conversion rate within your current mortgage; saving you thousands.
   

The time to ask these pertinent questions is right now.  We are seeing some of the lowest rates in Canadian mortgage history.  Why not take advantage of what many are calling the “bottom” of interest rates?  I can help you plan your long-term goals while taking advantage of these savings.  It’s smart-planning and free to boot!  Call now!

Bond Market fluctuates – Rates may go up soon!

Today we saw a rise in the bond market.  Some lenders have reacted by raising their Fixed rates, although it seems some are holding off for the time being.  What does this mean to you?  Enjoy the holiday season, but stay tuned for more information.  Anyone on the fence should be contacting me immediately to hold these historically low rates for 120 days.  Happy Holidays!

Twitter Weekly Updates for 2009-12-20

• Ha – can't shovel rain Rt @shelleymantei Rain is ok w me! telling my alberta friends its better than their dealio: "you can't shovel rain" #
• RT @ThinkTomDotCom: Seth Godin's blog today 'You Don't Have the Power' is simply fabulous. http://tinyurl.com/8nd64 #
• RT @virgin953: Lady Gaga's Ra-Ra- Ga Christmas http://tr.im/HPH3 ! Let's Build a Snowman #
• RT @coldwellbnkr: Turn on the home-equity tap again – Dec. 14, 2009 http://bit.ly/8B9Pby #housevalue #realestate #
• RT @KathyStilwell: Goood Morning Vancouver! "The best angle from which to approach any problem is the try-angle." #

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Bubble-talk!

With the Canadian Real Estate Association’s release of November housing numbers Tuesday, talk of a bubble is heating up among economists and industry professionals.

The CREA report said existing homes sales in November increased by a whooping 73 per cent compared to a year ago and prices rose almost 20 per cent.

“We’re on the bubble of a bubble,” Bank of Montreal economist Doug Porter told The National Post, sharing his worry about a potential surge of home sales before the central bank raises rates and the new harmonized sales tax is introduced in B.C. and Ontario. “We could see a bit of a buying frenzy coming this spring…followed by a “pop” in 2011?”

But despite continued fears that skyrocketing numbers signal the formation of an asset bubble, some insiders said the dramatic rise is due to how low the market was at this time last year. The number of listings also went up by five per cent from October to November, which is expected to help ease price increases.

“The numbers look huge, but you are coming off such a bad year,” TD Securities economics strategist Millan Mulraine told The Globe and Mail. “You’re seeing big numbers in the recovery, but the pace and momentum has eased. You could definitely say it’s not driving as fast as it was a few months ago.”

Another argument against a bubble came from Genworth Financial Canada president Peter Vukanovich, who told The National Post that because more consumers have been switching into fixed rate mortgage products, they will be less exposed to expected interest rate hikes.

Twitter Weekly Updates for 2009-12-13

• Sometimes a Friday feels just like one very long day that holds you back from the weekend and some much needed R&R #

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Bank of Canada leave overnight rate unchanged

As widely expected, the Bank of Canada held the target for overnight rate at 0.25%, and reiterated its commitment to keep rates at their effective lower bound through the second quarter of 2010.  The Bank recognized that while the global economic landscape has been slightly more positive, there are a significant amount of ‘fragilities’ still out there; enough to justify keeping rates where they are.  More than likely, the Bank of Canada will stay put past its conditional commitment of June 2010 and the first rate hike will not come until the fourth quarter of next year.