The Redwood/Raven Reporter
I hope this message finds you well, and 2017 has you off to a good start.
Redwood has been in the business for 28 fun years. This year will be a year of exciting change. The Leafs in the playoffs, the boat in the water, a new corporatedirection, summer weather, the knowledge that my transmission is good for another 200,000K KMs (as the last one exploded in rush hour traffic on the 401), and my daughter getting married.
I would like to announce that Redwood Mortgage will become a licensee of Verico, Canadas largest mortgage network. The lending landscape is changing rapidly, and now is the time to align ourselves with Canadas largest network of mortgage professionals. The Your brand, Your way network system will allow Redwood Mortgage to have access to innovative tools, support devices, industry leading technology and lender accessibility. Some of the large advantages are electronic document storage and an increase in the number of lenders, which leads to moreproducts for you.
Raven Financial Services (Redwoods sister company), will remain totally independent, as previously mentioned Raven specializes in the management of private mortgage portfolios. Raven has doubled in size in the first quarter of 2017. Fly Raven fly!
I would also like to take the opportunity to announce our Marketing Manager and Executive Assistant Natalia Chavez as part of our team. Natalia will be responsible for managing and executing all Marketing projects for Redwood Mortgage and Raven Financial Services. She will also be announcing new exciting news and updates on both Redwood Mortgage Corporation and Raven Financial Services. Natalia will bring a very new approach to our brand with her outstanding skills and extensive knowledge on Digital Marketing.
Lastly, if you want to talk about a mortgage, or refer a friend/family member, or talk about anything really please do not hesitate to call, and I mean this sincerely. Pick up the phone, drop in or send me and e-mail. It is perfectly okay. You know I am a person who loves to get letters in the mail, meet people and talk on the phone.
Robert A. (Bob) Gascon
Redwood Mortgage Corporation FSCO #10288
Easy ways to keep more money in your pocket
It goes without saying that most of us would appreciate a little more money in our pockets. Believe it or not, its actually an achievable goal. In fact, a few simple tips can help you uncover meaningful savings each and every month. Need some ideas? Heres a little inspiration to get you started:
1. Pack food from home for lunches and snacks. Skip sandwich bags and opt for reusable containers, cutlery and drink bottle.
2. Switch light bulbs to CFLs. On average, it costs $250 a year in energy costs to light your home with incandescents. Save $150 by going with CFLs. Theyre more expensive initially, but will last 10 times longer.
3. Review and negotiate your service plansphone, internet, cable and television content.
4. Invest in topping up your insulation. Attic insulation can settle and compact over time, diminishing its original R-value and increasing heating/cooling costs. Topping it up with a quality batt insulation, like Roxul Comfortbatt, will immediately help improve the comfort of your home and reduce your monthly energy bills.
5. Pay off credit card debt and swap cards for lower interest rate options.
6. Install low-flow water fixtures to cut down on excess water consumption.
7. Lower your thermostat by two degrees in cold weather and increase it by two degrees in warmer weather.
8. Launder your clothes in cold water and at off-peak times.
9. Avoid impulse shopping. Stick to your list and avoid window shopping, which tends to draw buyers in.
10. Save money on entertainment by looking for free activities. For options in your area, try a simple internet search. You might be pleasantly surprised at the wide variety of activities and entertainment available for no or low cost.
Collectively employing the tips above could potentially add up to thousands in annual savings, proving that sometimes change can be a good thing.
Bank of Canada increases overnight rate target to 1 per cent
The Bank of Canada is raising its target for the overnight rate to 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
Recent economic data have been stronger than expected, supporting the Banks view that growth in Canada is becoming more broadly-based and self-sustaining. Consumer spending remains robust, underpinned by continued solid employment and income growth. There has also been more widespread strength in business investment and in exports. Meanwhile, the housing sector appears to be cooling in some markets in response to recent changes in tax and housing finance policies. The Bank continues to expect a moderation in the pace of economic growth in the second half of 2017, for the reasons described in the July Monetary Policy Report (MPR), but the level of GDP is now higher than the Bank had expected.
The global economic expansion is becoming more synchronous, as anticipated in July, with stronger-than-expected indicators of growth, including higher industrial commodity prices. However, significant geopolitical risks and uncertainties around international trade and fiscal policies remain, leading to a weaker US dollar against many major currencies. In this context, the Canadian dollar has appreciated, also reflecting the relative strength of Canadas economy.
While inflation remains below the 2 per cent target, it has evolved largely as expected in July. There has been a slight increase in both total CPI and the Banks core measures of inflation, consistent with the dissipating negative impact of temporary price shocks and the absorption of economic slack. Nonetheless, there remains some excess capacity in Canadas labour market, and wage and price pressures are still more subdued than historical relationships would suggest, as observed in some other advanced economies.