It PAYS to shop around.
Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.
The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.
But I’m here to help!
I’m a VERICO Mortgage Advisor and I’m an independent, unbiased, expert, here to help you move into a home you love.
I have access to mortgage products from over twenty five different lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.
VERICO mortgage specialists are Canada’s Trusted Experts who will be with you through the life of your mortgage.
I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the VERICO Mortgage Advisor who can help you get the right financing, from the right lender, at the right rate.
6 MONTHS TO A BETTER BUDGET
One of the challenges with proper budgeting is that ithas to become habitual in order to be effective. You can survive withoutknowing how to budget if you manage to keep more money coming in rather than goingout or have credit cards to cover the gap, but this won't last forever. EmergencyFund The crux of this six-month plan is the emergency fund.Ideally, everyone should have at least one or two months' wages sitting in a moneymarket account for any unpleasant surprises. This emergency fund acts as abuffer as the rest of the budget is put in place, and should replace the use ofcredit cards for emergency situations. You will want to build your emergencyfund as quickly as possible. The key is to build the fund at regular intervals,consistently devoting a certain percentage of each paycheck toward it and, ifpossible, putting in whatever you can spare on top. What'san Emergency? You should only use the emergency money for trueemergencies: like when you drive to work but your muffler stays at home.Covering regular purchases like clothes and food do not count, even if you usedyour credit card to buy them. Downsizeand Substitute Now that you have a buffer between you and morehigh-interest debt, it is time to start the process of downsizing. It’s odd that the naturalsolution to not enough money seems to be increasing income ratherthan decreasing spending, but this backwards approach is very familiar to debtcounselors. The more space you can create between your expenses and yourincome, the more income you will have to pay down debt and invest. This can bea process of substitution as much as elimination. For example, if you buycoffee from a fancy coffee shop every morning, you could just as easilypurchase a coffee maker with a grinder and make your own, saving more moneyover the long term. Focuson Rewards Another trick that will help your budget come togetherfaster is to focus on the rewards. A mixture of long- and short-term goals willhelp keep you motivated. This can be as simple as saving for a small luxury, oreven something bigger like buying a car with cash. Watching these goals slowlybut surely become a reality can be very satisfying and provide further motivationto work harder at your budget. FindNew Sources of Income Why isn't this the first step? If you simply increaseyour income without a budget to handle the extra cash properly, the gains tendto slip through the cracks and vanish. Once you have your budget in place andhave more money coming in than going out, you can start investing to createmore income. Now, it is possible that it will take you more than sixmonths to get your budget balanced out as it all depends on your situation,including how much or what kind of debt you have. But, even if it does take youlonger than six months to get your budget turned around, it is time well spent.
Canadian home sales fall further in July
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales declined further in July 2017. Highlights:
National home sales fell 2.1% from June to July.
Actual (not seasonally adjusted) activity in July stood 11.9% below last Julys level.
The number of newly listed homes edged back by 1.8% from June to July.
The MLS Home Price Index (HPI) was up 12.9% year-over-year (y-o-y) in July 2017.
The national average sale price edged down by 0.3% y-o-y in July.
Julys interest rate hike may have motivated some homebuyers with pre-approved mortgages to make an offer, said CREA President Andrew Peck. Even so, sales activity continued to soften in the Greater Golden Horseshoe region. Meanwhile, sales and prices in Montreal continue to strengthen. All real estate is local, and REALTORS remain your best source for information about sales and listings where you live or might like to.
July marked the smallest monthly decline in Greater Golden Horseshoe home sales since Ontarios Fair Housing Plan was announced in April, said Gregory Klump, CREAs Chief Economist. This suggests sales may be starting to bottom out amid stabilizing housing market sentiment. Time will tell whether thats indeed the case once the transitory boost by buyers with pre-approved mortgages fades.
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Decline in single-family component moderated by gain in multi-family dwellings
Canadian municipalities issued $8.1 billion worth of building permits in June, up 2.5% from May and the second highest value on record. Higher construction intentions for multi-family dwellings and commercial buildings were mainly responsible for the national increase. All building components reported gains in June, except for single-family dwellings.
The value of residential building permits fell 0.9% in June to $5.0 billion, the fourth decrease in five months. The decline was mainly the result of lower construction intentions in four provinces, notably Ontario.
In June, the value of permits for single-family dwellings decreased 12.5% to $2.4 billion. Seven provinces registered declines, with Ontario being the main contributor to the decrease.
Conversely, construction intentions for multi-family dwellings rose 12.5% in June to $2.7 billion, marking a third consecutive monthly increase. Seven provinces registered gains, led by Ontario and British Columbia.
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