• Retail sales are emerging as one of the true bright spots of Canada’s economy – retail sales have risen in 7 of the last 9 months. • However, while spending is accelerating, consumer debt is moving in the opposite direction. This suggests that the improvement we are seeing is one driven by job growth and income gains, rather than leverage – a significant positive in mitigating a future debt bubble. • Overall, this confirms our view that consumers will remain a key driver of the broader economic picture in the coming quarters. With the acceleration in the U.S. economy likely on hold until next year, Canada’s export sector is unlikely to take over the driver seat before the new year. Get your next mortgage through Barrie’s Best Mortgage Broker offering low rates and great service.

TD economics

Best Mortgage Rates in Barrie, Ontario

2 year 2.89%

5 year 3.40%

Variable 2.5%

Plus receive cashback of $750 or free home warranty on appliance – OAC.  certain conditions apply

 40 per cent of all new mortgages in 2013 were obtained through a mortgage broker, while 42 per cent were obtained from a bank. Overall mortgage broker share has increased from 25 per cent to 28 per cent since last year. For the best mortgage rates in Barrie and surrounding contact Darick Battaglia

CAAMP statistics

Things to be optimistic about. The Average car is now over 10 years old in most cases needing replacement, Barrie is adding 100,000 to its population in the next 15 years, 180,000 new households are being created by immigration each year in Canada, Record low Mortgage rates www.darick.ca, the Post war Baby boomer is buying and paying more per Sq.Ft. for luxury amenities. Oh yeah; and if all else fails the Rothschilds reported $600 trillion empire can bail us all out.

HGTV has compiled a list of the 10 Best-Kept Secrets for Buying a Home to help borrowers get the most out of their money. Click here to see the tips from HGTV. http://www.hgtv.com/real-estate/10-best-kept-secrets-for-buying-a-home/index.html

Based upon a recent Genworth symposium house prices in Canada have been growing at a rate of on average of 4.8% since the year 2000.  The low spot was in 2008 when prices only increased by 1% and saw a high of 8% in 2010.  The forecast for growth in prices is estimated to be 4% for 2013 and 2014.

At Dominion Lending in #Barrie, we can find the best mortgage solution for you.  http.//www.darick.ca

Did You Know…HOW TO SAVE $987 PER MONTH 60% of Canadians have two or more credit cards. The average outstanding balance is $3,500. (Source: CMHC 2013 Change in the Canadian Mortgage Market Report, May 2013). By using the equity in their home as security, your clients can reduce their monthly payment obligations and save money on interest charges. As credit card charges add up, speak to your clients about the advantages of debt consolidation: •A significantly lower interest rate – saving your clients thousands of dollars over the long term. •One monthly payment – allowing your clients to keep track of debt and simplifying financial decisions. •Debt is conveniently secured in one place – full access to financial records and updates from only one location. •Lower monthly payments – extending debt repayment over a longer period of time. If your client’s mortgage has payout penalties, calculate the loss/benefit. Long term savings from a reduction in interest rate charges and monthly payments are very likely to offset any payout penalties. Your Client’s SAVINGS OF $987 PER MONTH! Old Plan Amount Rate* Monthly Payment Mortgage $200,0006.00% $1,432.00 Car Loan $13,000 6.50% $254.00 Credit Card $3,000 19.00% $151.00 Line of Credit $8,000 7.00% $350.00 TOTAL $224,000 $2,187.00 New Consolidated Plan Amount Rate* Monthly Payment $224,000 5.00% $1,200.00 *Rates used above are for illustrative purposes only.

Did You Know… 60% of Canadians have two or more credit cards. The average outstanding balance is $3,500. (Source: CMHC 2013 Change in the Canadian Mortgage Market Report, May 2013). By using the equity in their home as security, your clients can reduce their monthly payment obligations and save money on interest charges. As credit card charges add up, speak to your clients about the advantages of debt consolidation: • A significantly lower interest rate – saving your clients thousands of dollars over the long term. • One monthly payment – allowing your clients to keep track of debt and simplifying financial decisions. • Debt is conveniently secured in one place – full access to financial records and updates from only one location. • Lower monthly payments – extending debt repayment over a longer period of time. If your client’s mortgage has payout penalties, calculate the loss/benefit. Long term savings from a reduction in interest rate charges and monthly payments are very likely to offset any payout penalties. Your Client’s -SAVINGS OF $987 PER MONTH! Old Plan Amount Rate* Monthly Payment Mortgage $200,0006.00% $1,432.00 Car Loan $13,000 6.50% $254.00 Credit Card $3,000 19.00% $151.00 Line of Credit $8,000 7.00% $350.00 TOTAL $224,000 $2,187.00 New Consolidated Plan Amount Rate* Monthly Payment $224,000 5.00% $1,200.00 *Rates used above are for illustrative purposes only.

100% Financing, or No Money down, mortgages are still possible in Canada. You can borrow the 5% required down payment from a line of credit or loan,or obtain 100% financing with a slightly higher premium paid in the interest rate. You must have a minimum beacon score of 680 or higher to be considered for this product, your income must be able to debt service the mortgage and you must be owner occupying the home. To find out more, feel free to contact us today.BXP53636.JPG

Homeowners who break a closed mortgage before maturity will often make a pre-payment before the mortgage is discharged. Some Banks and lenders will not permit this within their standard charges potentially costing you upwards of $1000. The idea is to reduce the mortgage balance and thereby pay less of a pre-payment penalty. It’s a great idea if you have the funds to do it. Remember, however, that lenders have different policies on how close to the payout date you can make a pre-payment. Some lenders, for example, won’t allow pre-payments to be made within 30 days of the date of discharge (the date you pay off your mortgage in full). Therefore, if you plan to pre-pay a portion of your mortgage to reduce your penalty, remember to do two things: Ask your lender how close to your payout date you can make a pre-payment and still have that payment count towards reducing your penalty. (Allow several days regardless. You don’t want to cut it too close.) Make the pre-payment and then confirm that your lender has applied it to your account before your lawyer requests the payout statement. Otherwise, your pre-payment might not reduce your balance for the purposes of penalty calculation. If you use a broker they will shop your mortgage to the various banks and lenders to ensure you receive the best rates and terms.