Monday, January 31, 2011
Western Provinces are Holding Strong
Sunday, January 23, 2011
It is back - Win, Win, Win with our Referral Program!
This is a program where everyone wins and you get to share the value of our services with the people you care about....here's how:
Click here to contact us today!
Tuesday, January 18, 2011
Good News
After the news yesterday from Jim Flaherty, we got some positive news about rates. Bank of Canada rate will remain at 1.00% and Prime rate will remain at 3.00%.
Tighter Mortgage Rules
Federal Finance Minister Jim Flaherty announced changes to mortgage insurance rules intended to ensure the stability of Canada's housing market.
These measures include:
• Amortization period capped at 30 years - effective March 18, 2011
• Reduction of government backing for home equity lines of credit - effective April 18, 2011
• Maximum refinancing reduced to 85% from 90% Loan to Value - effective March 18, 2011
There are no changes to down payment requirements – still at 5% down. Flex Down payments are still available using cashbacks or borrowed down payments.
We will continue to update members on any new developments.
Please feel free to call us, should you have any further questions or concerns.
These measures include:
• Amortization period capped at 30 years - effective March 18, 2011
• Reduction of government backing for home equity lines of credit - effective April 18, 2011
• Maximum refinancing reduced to 85% from 90% Loan to Value - effective March 18, 2011
There are no changes to down payment requirements – still at 5% down. Flex Down payments are still available using cashbacks or borrowed down payments.
We will continue to update members on any new developments.
Please feel free to call us, should you have any further questions or concerns.
Thursday, January 13, 2011
Three Last-Minute RRSP Tips
Time is running out to make your RRSP contribution and take advantage of a tax deduction for 2010.
With the March 1, 2011 deadline fast approaching, here are three last-minute tips to consider:
1. Find an advisor
Chasing returns or the next big thing can only lead to disappointment. Guidance from an experienced investment advisor will take emotion out of the mix and help you meet your financial goals.
2. Contribute now
Don’t worry about how to invest your RRSP contribution. Temporarily park your contribution in a money market fund today and rebalance your portfolio tomorrow.
3. Diversify, diversify, diversify
Canada’s equity market represents only about five per cent of the world’s entire stock market. It makes sense to diversify your portfolio and invest in global markets. Consider different asset classes too to limit risk. (Source: News Canada)
With the March 1, 2011 deadline fast approaching, here are three last-minute tips to consider:
1. Find an advisor
Chasing returns or the next big thing can only lead to disappointment. Guidance from an experienced investment advisor will take emotion out of the mix and help you meet your financial goals.
2. Contribute now
Don’t worry about how to invest your RRSP contribution. Temporarily park your contribution in a money market fund today and rebalance your portfolio tomorrow.
3. Diversify, diversify, diversify
Canada’s equity market represents only about five per cent of the world’s entire stock market. It makes sense to diversify your portfolio and invest in global markets. Consider different asset classes too to limit risk. (Source: News Canada)
Monday, January 10, 2011
Budgeting for Interest Rate Hikes
Interest rates, near historic lows for much of the past two years, are widely expected to increase through the latter half of 2011. The cost of carrying debt, including mortgages, lines of credit and credit cards, will be affected.
“Low interest rates have enticed many Canadians to spend more on credit,” says Stephen Reichenfeld, VP and wealth counselor, Fiduciary Trust Company of Canada. “But an improving economy means lending rates will likely rise. It’s important to take steps today and prepare for potential higher borrowing costs in the years to come.”
Four steps that can help you prepare to come out ahead:
• Reduce personal debt. Do what you can today to decrease your debt load before borrowing costs increase. Review the option to lock in borrowing costs now and consolidate debt at a lower interest rate. If you’re only making minimum payments on your credit cards, start paying more.
• Rethink your mortgage. If you have an adjustable rate mortgage, and you plan to be in your home for at least five years, consider refinancing options such as converting to a fixed rate mortgage at current rates. Speak to your mortgage broker to discuss your options.
• Equity funds. Stocks tend to benefit more than fixed income products like bonds in a rising interest environment. Past market cycles indicates sectors like industrials and technology benefit when interest rates rise.
• Don’t hesitate on a major purchase. Consider accelerating your plans to purchase now before interest rates rise. If you’re in the market for a new car, there may be zero percent financing and other incentives available. These offers often disappear as rates rise. (Source: News Canada)
“Low interest rates have enticed many Canadians to spend more on credit,” says Stephen Reichenfeld, VP and wealth counselor, Fiduciary Trust Company of Canada. “But an improving economy means lending rates will likely rise. It’s important to take steps today and prepare for potential higher borrowing costs in the years to come.”
Four steps that can help you prepare to come out ahead:
• Reduce personal debt. Do what you can today to decrease your debt load before borrowing costs increase. Review the option to lock in borrowing costs now and consolidate debt at a lower interest rate. If you’re only making minimum payments on your credit cards, start paying more.
• Rethink your mortgage. If you have an adjustable rate mortgage, and you plan to be in your home for at least five years, consider refinancing options such as converting to a fixed rate mortgage at current rates. Speak to your mortgage broker to discuss your options.
• Equity funds. Stocks tend to benefit more than fixed income products like bonds in a rising interest environment. Past market cycles indicates sectors like industrials and technology benefit when interest rates rise.
• Don’t hesitate on a major purchase. Consider accelerating your plans to purchase now before interest rates rise. If you’re in the market for a new car, there may be zero percent financing and other incentives available. These offers often disappear as rates rise. (Source: News Canada)
Friday, January 7, 2011
New Year's Resolutions for Entrepreneurs
Want to raise your game in 2011? Here's advice to get started now.
By Kara Ohngren | December 30, 2010, the experts at Entrepreneur.com suggest the following new year's resolutions for business owners.
Productivity
It's critical to get absorbed in your business niche to achieve mastery. But, most importantly, laugh, love and live more fully. -- Scott Halford, Brainy Business
Video Marketing
Create at least one professionally-produced video for the homepage of your website and social media sites. It should show why your business is the best choice among the competition and include a compelling incentive to make an immediate purchase and share the video with others. -- John Arnold, Marketing Tools & Technologies
Growing
Turn your small mom-and-pop business into a bigger opportunity this year by launching the projects you never got around to in 2010. -- Lisa Druxman,Mompreneur
Prioritizing
Ask yourself, “What can I stop doing?” Begin to put stronger accountability practices into place to create a better business foundation. -- Nina Kaufman, Making It Legal
Mobile Marketing
Make mobile marketing a high priority. Capture mobile shoppers by updating your website to load quickly in a variety of browsers and making them Facebook and Twitter interactive. Offer competitive pricing and tap into the soaring popularity of coupons by texting them to your customers' mobile phones. -- Kim T. Gordon, Marketing
Happy New Year – make 2011 your best year ever!!
By Kara Ohngren | December 30, 2010, the experts at Entrepreneur.com suggest the following new year's resolutions for business owners.
Productivity
It's critical to get absorbed in your business niche to achieve mastery. But, most importantly, laugh, love and live more fully. -- Scott Halford, Brainy Business
Video Marketing
Create at least one professionally-produced video for the homepage of your website and social media sites. It should show why your business is the best choice among the competition and include a compelling incentive to make an immediate purchase and share the video with others. -- John Arnold, Marketing Tools & Technologies
Growing
Turn your small mom-and-pop business into a bigger opportunity this year by launching the projects you never got around to in 2010. -- Lisa Druxman,Mompreneur
Prioritizing
Ask yourself, “What can I stop doing?” Begin to put stronger accountability practices into place to create a better business foundation. -- Nina Kaufman, Making It Legal
Mobile Marketing
Make mobile marketing a high priority. Capture mobile shoppers by updating your website to load quickly in a variety of browsers and making them Facebook and Twitter interactive. Offer competitive pricing and tap into the soaring popularity of coupons by texting them to your customers' mobile phones. -- Kim T. Gordon, Marketing
Happy New Year – make 2011 your best year ever!!
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