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Get a copy of your bureau and call me to explain exactly what is on there and how it impacts your credit score.  

 

http://www.equifax.com/home/en_ca

 

Julie Vesuwalla    Real Estate Professional

Cell: 403-874-9021

julie@homesweethometeam.ca

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Rates Holding Steady

Over the past few weeks we have seen the fixed mortgage rates take a few jumps in the upward direction.  This increase was inevitable as the historic lows we were seeing just couldn’t last forever.  For those of you that got in at rates under 4% on a 5 year fixed, consider yourself lucky and ride those out for as long as you can...we may never see that again.  As for the rest of you that just didn’t want to rush into anything, rest assured that rates are still low.  A few years ago, a fixed rate under 5% was fantastic and even those of us in the industry were locking our mortgages in thinking those were as good as they were ever going to get.  Almost all of the major banks are still offering a 5 year fixed between 4.49%-4.79%, not the 3.69% we were seeing but still a great rate for a mortgage if you look at historical rates.

Next rate increase to keep an eye on will be the Prime lending rate with the Bank of Canada making it’s next announcement on June 1, 2010.   On 20 April 2010, the Bank kept its target for the overnight rate at 0.25 per cent but removed the conditional commitment.   With the promise to keep rates as is until June and the removal of the commitment we can expect to see a move on June 1, question being how much.

You can get a rate hold for 120 days to protect you if rates go up.

If you have a mortgage coming up for renewal

or you are thinking of purchasing it’s worth it.

 

Housing starts expected to build on recovery data   'Housing starts have risen 80% from their cyclical lows'

Derek Abma, Financial Post 

If record job gains from April weren't enough to convince you the Canadian economy is on solid ground, a few more measures are coming down the pipe over the next week that could support the case.     Full report

 

 

 

Real estate fraud rare but experts warn homeowners to be on the lookout

by Malcolm Morrison, THE CANADIAN PRESS
TORONTO - Real estate fraud is a rare thing but experts in the field say that doesn't mean people should assume it will never happen to them - considering the misery it can inflict on the unwary homeowner, it's worth knowing that it's out there and it's nasty.  Full report

 

 

 

 

 

 

 

 

 

Today, CAAMP released its spring consumer report, Prudence Paying Off For Canadian Mortgage Borrowers.

 

The report, compiled by Will Dunning, CAAMP's chief economist shows Canadians appear well prepared to face a new phase of the residential mortgage market and includes information on consumer borrowing behavior and an outlook on residential mortgage lending.

 

Significant statistics have been extrapolated from the report for easy reference.

 

To view the Press Release - click here

To view Significant Statistics - click here

To download the Survey Report - click here

 

 

 

Click here for full housing stats

SOLICITING PROPERTY OWNERS—Warning

The Calgary Real Estate Board (CREB®) has received numerous complaints from members and the public who are receiving notes or letters addressed to the homeowners in their mailboxes offering to buy their homes. Some are addressed to the homeowner by first name only and are dropped in their mailbox in the form of a yellow note.  Others have been formally mailed to the homeowners. After looking further into the situation, we’ve learned the letters are being distributed by people claiming to be real estate investors. They are not industry members. To date, we’ve received complaints from Cochrane, Airdrie and Calgary regarding such letters.

 

Neither CREB®, nor RECA, have jurisdiction over these individuals, but we want you to be aware of the situation because many of your listing clients have been approached by these people