Potential Buyers, Home Owners; Fear No More

It seems that despite the residential mortgage rate increase from two of Canada's largest banks it's still a seller's market, the biggest increase which affect five year mortgage has raised rates six tenths of a per cent to 5.85 up from 5.25 per cent, with that increase, interest rates seen at a remarkably low, and it would not affect the housing market too much.

It appears that home owners who have a fixed-rate mortgage will not be affected by the increase, that would give option to potential buyers to lock in to variable-rate mortgages.

Potential buyers should not get nervous to the current rate increase, expect that they're still going to get a good deal. in fact, the overnight 0.25 per cent is expected to remain constant until this summer.

Please go to Article:
http://www.metronews.ca/vancouver/local/article/490708--don-t-fear-rate-hike-experts-say

Real-Estate Markets To Remain Strong

According to the latest forecast from Scotia Economics, Canada's real estate markets should remain heated through the spring, due to low mortgage rates before setting into more subdued conditions as those rates rise.

Scotia Economic senior economist Adrienne Warren said the last decade had been the strongest decade of real price appreciation in at least 50 years, well in fact it was an exceptional decade.

However, listing of new properties have not kept pace with this surge in buying, and the result is bidding wars for properties.

Warren said Metro Vancouver saw an equally sharp bounce back after a sharp fall-off in sales and prices during the recession.

Metro Vancouver showed an average home price of $592,441 in 2009 which was negligibly lower that the $593,767 average price of 2008.

The Metro Vancouver market does tend to retain high prices because of its unique geographic constraint, which makes the region the least affordable market (in Canada) as well,Warren said, also she forecasts Canada will see a "normal adjustment period," that property prices remain relatively flat for a significant period while other aspects of economy improve.

Please go to Article:
http://www.leaderpost.com/technology/Real+estate+markets+should+become+more+subdued+after+spring/2718203/story.html

Canada's Housing Market; Going Strong

In Canada housing boom will continue this spring as exceptionally low mortgage rates and the expectations that rates will go higher which adding a" sense of urgency" to the market.

A Scotiabank global real estate trends report released Tuesday predicts most Canadian regions will remain sellers' market for the first half of the year as strong demand and prices continue. It seems that people are taking advantage of this rates that hit bottom.

Scotiabanks expects about 510.000 thousand sales of house this year, ten percent higher from 2009, however average price are forecast to increase about eight per cent to a record $345.000.

Canada's economic recovery from 2009 recession has improved consumers confidence. Most experts predicts that as long as the economy is improving and the low interest remains, strong housing markets will continue.

Canada's recovery continues to outpace developed countries around the world with housing prices in the fourth quarter up 19 per cent year over year.

Please go to Article:
http://www.muchmormagazine.com/2010/03/canadas-housing-boom-to-continue-through-spring-2010/

Homeowners Prepared For The Upcoming Higher Mortgage Rates

About 64 percent of Canadians are expecting mortgage rates to be higher over the next year. The three quarters (73%) of the homeowners need to be prepared and think ahead to ensure they will be able to pay their mortgage if rates rise. However, homeowners concerned been advised to review their mortgage with their financial advisor regularly to get ready for the upcoming changes.

Six out of ten mortgage holders are now taking advantage of the current low interest rates to pay more principal. 18 percent of home owners made a lump sum payment on their mortgage and 16 percent doubled up their payment to lessen the mortgage principal. Positively the majority of the mortgage holders (84%) believe they are doing an excellent job of paying down their mortgage.

Marcia Moffat, RBC's head of home equity financing provides the following tips for Canadian homeowners:

1. Look into your prepayment options.
2. Pay down higher cost debt.
3. Have a strategy to pay off your home equity line of credit.

Homeowners can also seek an advice from a financial advisor.

Please go to Article:

http://www.pressreleasepoint.com/canadians-expecting-higher-mortgage-costs-2010-rbc-poll

Healthy And Smart Real Estate

Instead of worrying about the real estate market, some Canadians are concerned at the prospect of the price bubbles, it was reported that the average price of existing homes rose 19.6 percent in January. compared to 2.6 percent in the United States, in some Canadian cities, particularly Toronto and Vancouver prices appear to be heading toward record levels. Positively the housing markets responded to low interest rates expecting to continue the current pace.

Mr. Alexander and others explained that Canadian market's reconditioning ensured that the recession in Canada did not turn into a real estate disaster, possibly due to Canada's retail banking system, Canadian banks avoided the structured debt products that imperiled many of their American counter parts. They also maintained comparatively tight controls of lending to consumers.

In real estate Canadian businesses is moving slowly but surely, while in American businesses they have this willingness to really push the limits.

Now that demand from buyers have returned some analyst agreed that sellers have been slower to move due to winter season, but expectations are high that this spring and the upward trend in prices will inspire increasing number of people to list their homes and based on January's statistics pattern may be developing for both resales and housing starts.

Please go to Article:
http://www.ushour.com/uncategorized/in-canada-real-estate-is-booming/hour.com/uncategorized/in-canada-real-estate-is-booming/

Mortgage New Rules Will Benefit Canadian Markets And Home Buyers

Canada's mortgage insurance rules will be tighten which will take effect on October 15, it's widely seen as a measures further Canadian mortgage market to prevent the credit problem that have crippled the U. S. housing market. This changes is the positive approach by the Canadian government to make sure that the housing market remains strong and to reduce the risk of a U. S. style of housing bubble.

An October 15 implementation date was chosen to give home purchasers with mortgage pre-approvals the opportunity to exercise their options before the pre-approvals expires at the end of their usual 90-day term.

This tightening of Canada's mortgage insurance rules seem to be a strong move to do something to reassure Canadian markets and ensure that home buyers will not experienced housing market problem in the U.S.

Please go to Article:
http://www.agentbuilderinc.com/wordpress/2010/03/15/mortgages-rules-for-canadian-home-buyers-to-be-tightened/

Good Advise To Home Buyers

It appears that some women home buyers wish they have known more before purchasing a home.

According to survey done by TD Canada Trust Women and Home Ownership poll;
25% of women home buyers wish that they had learned more about their mortgage option,
36% said they wish they had ask more question about the fees and cost related to maintaining property.
30% indicated that they hadn't calculated the annual expense of maintaining a property.
43% women felt that their biggest problem in the home ownership was the cost of maintenance and repairs.

TD Canada Trust has this Mortgage selection tool to help the potential home buyers identify the type of mortgage that might be right for them.

TD Canada Trust's Chris Wisniewski recommends the following to home buyers.
1. Choosing an amortization period shorter that the standard 35-year period.
2. To estimate their closing cost to be the equivalent of 1.5-4% of the cost of their home.
3. Making a budget and planning monthly housing expenses to be less than a third of your
monthly housing income.
4. Hiring a qualified home inspector

The result of the survey will give some good advise for anyone thinking about entering the housing market this spring.

Please go to Article:

http://homeandgarden.homes-extra.ca/Homes/2010/03/16/13246606.html

Homebuyers Relieved On Mortgage Rules Changes

In Canada the new federal rules governing mortgage have been widely misunderstood, there are a lot of rules that changed but there is a need to clearly communicate to home buyers who get confused. A lot of people misunderstand the announcement of the federal Finance Minister Jim Flaherty on the new mortgage rules February 16. Ms. Margo Wynhofen a vice president of the Independent Mortgage Brokers Association in Ontario, give clarification to many clients that under the new rule it will only affect the customers that are required to purchase the insurance.

Under the new rules, all buyers requiring mortgage insurance will have to meet the "ability to pay" for a higher and more expensive five year fixed rate mortgage even if they choose a mortgage with a lower interest rate and a shorter term. To first time home buyers and anyone who wants to variable mortgages rates now and to doesn't have one already , they now have to qualify for a higher interest rate. If some of them won't qualify then its not a problem at all they will just take a fixed rate.

First time home buyers should not be worry about this changes , Bernice Dunsby a director of home equity financing at the Royal Bank "says that the changes will be actually help first-time home buyers to ensure that not only can they afford their home today but in the future, especially when the interest rates rise.

In some cases, the rules might be outdated before its implemented. More home buyers are looking for some alternatives, people are chronically refinancing.

In anyway. take the Williams as an example first time buyer in Canada, they are pretty relieved with their new house. Mrs. William stated that it is very different to get a mortgage here in Canada it's a lot less hassle than in the United States. They seemed satisfied with their new house because they are not worried about the new mortgage rules, they already thinking about their next purchase.

Please go to Article:
http://www.financialpost.com/personal-finance/your-money/story.html?id=2691340

Cash-back Mortgage, A Good Alternative

Cash back mortgages give consumer a percentage of their mortgage in cash to spend as they please. The money could be used to buy furniture, appliances, pay for closing fees or invest on the stock market whatever the consumer like.

Cash back users generally only get the posted mortgage rate instead/over a re discounted rate. Sometimes there is a big difference between the posted rate and re discounted rate, for example, the posted rate for a five-year, fixed mortgage the standard term for a cash back offer at many major banks is around 5.5% but the discounted rate can be as low as 3.89%.

However, many costumers are still considering going to a fixed five year, full discounted rate, or an even lower variable rate. although cash back mortgages are still a small part of bank's business, they do have benefits.

Taking cash back offer is not advisable to customer planning to sell their house before the five year term is up due to a usual fees associated for breaking the mortgage early plus some of the cash back has to paid back.

TD Canada Trust currently offers a 5% cash-back mortgage up to a maximum $25,000. Scotiabank offers almost the same deal while RBC and CIBC are offering up to 7%.

Consumer planning to take a cash- back program would be easy to qualify it is the same as qualifying for a five year mortgage.

Please go to Article:
http://www.kelowna.com/2010/03/16/some-mortgages-come-with-spending-money/

Excellent Options For Home Buyers

With the world housing crises especially in the United States the Canadians were also affected of the situations, people thought that its more difficult with no down payment to get a mortgage in Canada with the cancellation of zero mortgage. Many people assume that if they don't have 5% down payment to buy a house they won't be qualified of mortgage, but put aside you worry its still possible for you to get a zero down mortgage in the form of the bank call cash back mortgages. For people who doesn't have a 5% down payment to buy a home cash back mortgage is great alternative for you. and for some people who have saved but not quite enough back mortgages would be a good option for you.

However, people should know that there are significant differences between the zero down mortgage and cash back mortgages, the first and most important difference is the interest rate, and the second difference is the penalty if you break the mortgage before the 5-year term is up. It is important to people to be fully aware of the conditions of the cash back mortgage and have option in your decisions, for example if you want to wait and save so you don't need to pay a higher interest rate but consider that every year an average house increase in value by approximately 5%. Think about if cash back mortgage would cost less that waiting.

Please go to Article:
http://debtthreat.com/530/everything-you-should-know-about-cash-back-mortgages-in-canada/

Many Opportunities for Real Estate Investors

Anytime is considered to be the best time to invest in Canadian real estate properties. Canadian real estate are so wide and high and it offers many opportunities for real estate investors, Investor are just have to choose the right properties, and if you want to make money you have to make a practice of buying and holding, simply holding your properties and wait till the market get strong then its time to sell your properties, you can also continue to earn money by leasing or renting out properties. As a Buy and Hold investors you have to be patient and well experience looking at the market, you should be better in predicting the ups and down in the market and must be good in reading the sign and taking the right decisions when buying or selling.
Unlike in certain countries, the Canadian real estate market is always good.

Please go to Article:
http://finance.9downsoft.net/2010/03/the-best-time-to-invest-in-canadian-real-estate/

Canada a Better Place to Invest

Canada is a better place to invest. There are many reasons and predictions to name and to mention some, proven that Canada has a complete packages the world wants, there is a relatively favorable regulatory environment and political situation is quite good here, with the improving economy and expectations that Canadian dollar will strengthen and the domestic economy going strong with the corporate revenue growth and by 2012, Canada will have an unbeatable global corporate tax regime.

Please go to Article:
http://ellidavis.com/toronto-real-estate-news/2010/03/why-invest-in-canada

Running a Pre-approved Mortgage By a Lawyer

Many home buyers really only start looking at the mortgage document that they are about to sign at the lawyers, on completion of the home purchase transaction. Many do not consider using the services of their lawyers before the signing date to really hone in on the language of the mortgage pre-approval or approval and what it really means for the home buyer.

For example, with variable rate mortgages, a base of contention is in the prime rate. Is this the banks prime rate or the mortgage company’s specific prime rate? You may end up paying a prime rate higher than what the banks are charging, costing you more in interest charges.

It’s advisable to consult your lawyer in the early stages of planning to buy a home, even as early as when you’ve been given a pre-approval. You might prefer to clear up any points of confusion and misunderstandings early in the process than trying to do so on completion.

Please go to Article:

http://www.montrealgazette.com/business/Choose+mortgage+words+carefully/2664150/story.html

Target market Seniors

Canadians according to statistics research are now living longer than ever before. This longer life expectancy means that Canada's Senior Market is growing on both ends. It means a large number of Canadian are into retirement age as the younger generations aging and retirees are living longer as they get older. On average, a 65- year- old man could expect to live an additional 18.1 years in 2005-2007, an increase of 2.0 years from the previous decade. A 65-year-old woman could expect to live an additional 21.3 years, up by 1.3 years.

As the population ages, their real estate needs will also change, another thing these seniors will have to look for the financial resources to make an adjustments to suits those changing needs. It seems that seniors is a big factor in improving Canada's real estate in the coming years. Those seniors who wants to downsize, upgrade or buy a retirement property, a sales representative can give you some advise.

Please go to Article:
http://www.emckanata.ca/20100312/business/Canada's+seniors+market+is+growing

Mortgage Application Higher

February ended with a higher demand on mortgage application for home purchases according to the Mortgage Bankers Association's Market. The BMBC index increased by 1.2 percent. Refinances decreased 1.5 percent on the earlier week per the index and the seasonally adjusted purchased Index is up a full 5.7 percent over the previous week. It seems that adjustable-rate mortgage applications are at their highest level since November of 2009 up 5.1 percent up from 4.8 percent the week before.


Please go to Article:
http://www.examiner.com/x-30970-Atlanta-Mortgage-Industry-Examiner~y2010m3d11-Mortgage-applications-up-for-home-purchases

Why Not You Can Afford

Choosing a mortgage is optional . Home buyers have to choose the right mortgage for some reason, but on a low interest rate , the question is a 15 year fixed rate mortgage is a bad option.

When homeowners choose an adjustable rate mortgage due to low interest rate and payment upfront , the disadvantage to homeowners is when the interests and payments adjust to higher rate. On the other hand homeowners will consider the 30-year fixed rate mortgage for the low interest and monthly payments over the long term.

On a 15 -year fixed rate you may pay your mortgage much faster and the interest you will save is better compared to other mortgages. Remember that the monthly payment on this mortgage is higher. You can consider this mortgage when you are able to afford the expensive monthly payments but be sure this is the right one for you before you make your decision.

Please go to Article:

http://www.screenmylender.com/2010/03/is-a-low-interest-15-year-fixed-rate-mortgage-worth-the-monthly-payment-red-white-and-blue-press-blog/v

Curb Appeal

Curb appeal is the buyers first impression the moment they see your
property from the outside. Here are some tips on improving your home's
curb appeal:

1. Keep the lawn and garden trimmed, clean and manicured.
2. Remove all garbage, scrap, debris and either thrown them away or
put them out of sight
3. But a new door mat for the front door, hang a wreath on the door,
make the front door appearance say "Come on In or Welcome to my Warm
Home"
4. Replace all burned out light bulbs. Make sure each room has either
a ceiling light fixture or floor lamp.
5.Free up your counterspace by removing microwaves, toasters, coffee
makers and the like. A TV in the living room may make your living room
look too small.
6.Rent a storage unit to store your extra furnishings to make the
house look larger.
7. Paint the walls, ceilings, replace the carpeting

Remember, house shoppers want turnkey homes - ready to move in without
too many remodelling needed.
Make it easy for the home buyer to move into your house.

Home Purchase, Higher In B.C.

In British Columbia there is a possibility that would be home buyers will continue to improve. A recent survey said that 36 percent of B.C. residents would be likely to buy a home in 2 years, up from 26 percent last year. B.C. residents motivated by the low interest rate and good prices, buyers are planning to put down the largest average down payment $ 92.676

It seems that B.C. residents now are more cautious , optimistic and a bit realistic, they now keep track of the real estate market condition, its interest rates and price movements, before they make a decision in buying a home.

With the recent improving economy and the interest rate is still low, real estate market in Canada will continue to be strong.

Please go to Article:
http://www.vancouversun.com/business/Vancouver+would+homebuyers+becoming+more+hopeful/2658804/story.html

Good Real Estate Price

According to bank survey younger Canadians are expected to lead the way with home buying this year as they take advantage of the low interest rates, new jobs and what they consider "low prices". Result shows that 15 percent of Canadian between the ages of 18 to 24 are more likely to buy. percentage are doubled from 8 per cent in 2009. On the recent poll found that 35 per cent of the younger Canadians believes that this is the right time to buy a home due to good real estate prices. and 22 percent in that young age group wanted to buy a home because they considered the interest rates were good.

It appears that more young people are getting into real estate market. taking advantage of low interest rates, lower down payments , and more years to pay off their mortgage.

RBC senior economist Robert Hogue said that "Confidence in the Housing Market is back".

Study found that 91 percent of Canadians homeowners believe a home is a good investment, the highest level in 12 years, and 26 percent expecting their home to be their primary source of income when they retire.

Please go to Article:

http://www.google.com/hostednews/canadianpress/article/ALeqM5i-s30EtzwdQUUKYUUn4t6VDjx2Eg

Low Interest Rates

Sales of new homes in the Toronto area are expected to rise 30 per cent compared with 2009, while existing home sales should be up 2.5 per cent, according to a report released Tuesday by the Canada Mortgage and Housing Corp.

"We have entered this year with significant amounts of momentum as a number of temporary factors have boosted sales and prices in recent months," CMHC economist Ted Tsiakopoulos said.

It appears that home buyers are trying to take the opportunity buying a home on a low interest rates. Consumers are taking advantage of the low current interest rates now on the forecast that interest rates would go up sooner or later.

Please go to Article:

http://toreal.blogs.com/toronto/2010/03/toronto-real-estate-market-forecast.html

Profitable Investment

Commercial and residential investments in Canada offer opportunities to the investors. Property investors can target on any one of the developing cities of Canada for real estate investments and there is no limit for the investor in the Canadian real estate market. it totally depends on what the real estate investor seeks.

If you want to invest in real estate and have much safe and more profits, get a Real estate investment in Canada. It is better to take this opportunity and start investing in real estate of Canada for long-term profitable gains.
You can also learned under the real estate programs; on how to find properties that are in demand: will educate you through the process of investing, help you find a tenant/buyer, help you advertise your home and many more.

Please go to Article:

http://www.vivarealbrazil.com/2010/03/real-estate-investing-in-canada/

Good Tips For New Home Buyers!

The Greater Vancouver Home Builder' Association, or GVHBA announced its annual seminar for first -time home buyers. Now that mortgage rate are historically low the supply of built home was abundant, there were some sweet, limited time to be had, and they didn't have the burden of having to sell an existing home in order to buy another. Then seminar registration came, and a year later, home sales and start during January and February have improved over the same two months in 2009 Mortgage rates are still low, and there are more new offerings from builders including mid- and high rise condos town homes and single detached homes. It means its still a good time to buy a new home. Although there are so many divers factors to consider when buying a new home, First time home buyers can now ask for help demystifying the process. That is the purpose of this seminar which will be held on March 23, Tuesday at the Sheraton Vancouver Guildford Hotel in Surrey. Admission is free. Home buyers will gained knowledge and more informed and confident decisions when they purchased their first homes.

Please go to Article:

http://www.vancouversun.com/business/Annual+seminar+promise+useful+tips+buyers/2649607/story.html

Higher Demands for New Home

Housing construction in Canada will strengthen this year predicted by the Canada Mortgage and Housing Corporation. The national housing agency in its first-quarter outlook that housing starts will range with 152.000 and 189.300 units this year 2010. up from 149.081 in 2009. It expected starts will rise to between 156.400 and 205.600 units next year.

CMHC chief economist Bob Dugan expecting home buyers will benefit from improving economy and low mortgage rates.

Dugan said requiring a larger down payment or consider a less expensive home will help moderate housing activity. and a decline in the number of new listings for existing homes shifted the emphasis from a buyer' to a sellers' market and increased demands for new home.

Pleas go to Article:
http://www.retailcouncil.org/enewsletter/newsletter_030510.html

Mortgage Rate Option

In Canada Mortgage rates are quite low right now. Thinking about of purchasing a first home you should have a solid understanding of which of the mortgage options available to you. Think about should i go to a fixed rate or a variable mortgage? though there is no possible answer to this question, you might consider to select the option most suited to your needs.

Fixed rate mortgages offer a security of a locked-in interest rate of the term you choose, typically one to five years. but consider that on the fixed rate when you come out to renewal, your choices will determine by mortgage rates available at that time.

Variable rate mortgages may have lower rate than fixed rate mortgages, but the interest rate linked to the Prime Rate and fluctuates with it. That could mean decreases or increases in the rate you pay over the term you select and a corresponding impact on both total interest costs and the amount of your mortgage payment. According to the one Canadian study interest rate data from 1950 to 2007 that choosing a variable rate mortgage over a fixed rate mortgage would have saved consumers $20.000, in interest payments over 15 years (based on a $100.000 mortgage).

Please go to Article:
http://www.emcstlawrence.ca/20100304/lifestyle/Mortgage+planning+-+fixed+rate,+variable,+pre-approval%3F

Affordable Houses

Housing demand in Canada will benefit from the improving economic recovery this 2010 and next year 2011. More than 20 thousand people or home buyers will be qualified to acquired a housing loan. low mortgage interest rates will not change, so expect the sales of existing homes higher this year 2010, but according to Canada Mortgage And Housing Corporation (CMHC) for British Columbia new home construction will increased.

For home buyers, this Canada's national housing agency experience to help and become an access for a variety quality, environmetally sustainable and affordable homes. CMHC also provides reliable support and assist consumers in the housing industry.

Please go to Article:
http://www.benzinga.com/pressreleases/m152964/canada-mortgage-and-housing-corporation-british-columbia-housing-starts-to-inc

Low Cost Housing Loan

Canada Mortgage and Housing Corporation main function is to provide mortgage insurance of residential mortgage loans to Canadian home buyers. This insurance protects margin lenders against mortgage defaults on mortgage of less than 20 percent down. CMHC also makes financial loan to cities at lower rates for the development of housing projects.

Home buyers are now being granted a higher cost of mortgages for their first home purchase. Through this CMHC plans insuring an $813 billion via a combination of mortgage insurance and mortgage-back securities (MBS).

CMHC, government and the private sector aim is to give the home buyers affordable houses.

Please go to Article:http://en.wikipedia.org/wiki/Canada_Mortgage_and_Housing_Corporation

Mortgage New Rules

In Canada sales and prices of existings homes soared last year, unlike in the U.S. where housing markets struggled to recover. This recovery boosted by the bank of Canada's near- zero interest rates and the resulting low-cost mortgages.

Canada will implement Mortgage new rules that will benefit the home buyers. Under the new rules it will prevent the kind of problems that caused the U.S. housing market to collapse. I will requires borrowers have the resources to qualify for a five-year fixed rate mortgage. It will also benefits most people to continue to qualify as they do currently for homes they intend to live. Mortgage rates minimum five percent down payment has not change.

Please go to Article:
http://mashtrends.com/02/finance-trends/canada-tightens-mortgage-rules-says-no-bubble-yet/20/

Greater home ownership

The Canadian government has not used public policies like the Community Reinvestment Act. And they provides public funding for low income rental housing.

In a Home Mortgage, interest has never been tax-deductible in Canada. Also paying down your mortgage is a tax free investment and further encourages greater equity accumulation.

The Canadian banking system is much more concentrated with their 5 largest Canadian banks. Holding more than 80 percent of total bank assets. This concentration became an advantage during recent financial crisis.

Banks in Canada create a healthy and sound "pro lender" environment absent of political motivations for outcomes like greater home ownership.

Please go to Article:
http://american.com/archive/2010/february/due-north-canadas-marvelous-mortgage-and-banking-system

Tax Deductible Mortgage!

More than 700,000 home-based business owners might be eligible to deduct a portion of their mortgage interest on their principal residence as an expense as long as you can prove and maintain a direct link between the mortgage you incurred and earning income. You would base the mortgage interest deduction on the square footage of your home office divided by the total square footage of the house.

It is also true that if you incur a mortgage to purchase a rental property, the interest you pay on the mortgage is tax deductible as that rental property is used to earn income.

Generally speaking, mortgage interest is not tax deductible on your principal residence. However if you can prove a direct link between the mortgage and using that part of the house to earn income, then you will be eligible to make that interest deduction.

Consult your accountant or a tax specialist to seek advice.

Please go to Article: How your Mortgage Can Lower Your Tax Bill