For the financial support and consulting solutions you can rely on, more of today’s smart consumers are choosing VERICO The Financial Forum Ltd. over any other financial services firm period. We are the only firm of our kind that works laterally with our clients every step of the way; if you want dedicated financial services designed to meet your mortgage lending and financing needs, trust VERICO The Financial Forum Ltd. To show you what we can do for you today.
Headquartered in Vaughan (Woodbridge), Ontario and serving consumers throughout Ontario and Canada, VERICO The Financial Forum Ltd. was founded under the principle of offering our clients real-world solutions to all of their mortgage lending needs. We are not affiliated directly with any lending institution which enables us to provide our clients with a completely unbiased opinion as to which company offers the best products, services and rates to suit their particular needs and wants. Partner with us today and experience the difference quality and service can make for you.
Our team of experienced professionals strive to provide a higher level of service and support that our clients can’t get anywhere else. We have the ability to customize our financial consultancy services to offer as much support as needed to ensure our clients’ financial requirements are met and their expectations exceeded. VERICO The Financial Forum Ltd. offers the best value combined with the support of our creative minds to create a lending solution that will suit your needs. Contact us today for a free consultation and learn what we can do to help solve your mortgage lending needs.
VERICO The Financial Forum Ltd. showcases the best value for the money mortgage lending solutions specializing in residential, investment property, recreational property, lines of credit as well as first and second mortgages. We have been helping consumers since 1984, let us help you today!
To learn more about VERICO The Financial Forum Ltd. and our world-class financial services consultation, contact us today and let one of our experienced professionals assist you and answer any questions you might have.
Ready or Not?
Deciding whether to buy a fixer-upper or a move-in ready home isn't a question of which is better, but rather which makes the most sense for you. To help you figure that out, consider the following questions:
What's your budget? Move-in ready homes typically cost most that fixer-uppers, as they done need work. Plus, there can be more competition for move-in ready homes, which further drive up the price. With lower asking prices and less competition, fixer uppers can be a great way to buy into a neighborhood you otherwise couldn't afford.
What is the nature of work needed? Are the problems with the fixer-upper largely cosmetic, or are they significant, such as poor plumbing or wiring? If the work needed is significant, the high cost of improvements may mean you'll end up spending more on the fixer-upper than you would have on a move-in ready home.
Do you have the time and know-how to fix up a fixer-upper? If so, buying such a property can be a great way to get exactly what you want in a home while boosting its resale value. If not, you're better off buying a turnkey home, as having to hire contractors could negate any savings incurred by purchasing a fixer-upper.
What are the neighborhood dynamics? Buying a home in an undesirable location of depriciating neighborhood is always a risky proposition, but this is especially true when buying a fixer-upper, as youare less likely to recoup your improvement expenses on a home in such a location or neighborhood.
Bank of Canada maintains overnight rate target at 1 ¾ per cent
The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 per cent.
Recent data suggest that the slowdown in the global economy has been more pronounced and widespread than the Bank had forecast in its January Monetary Policy Report (MPR). While the sources of moderation appear to be multiple, trade tensions and uncertainty are weighing heavily on confidence and economic activity. It is difficult to disentangle these confidence effects from other adverse factors, but it is clear that global economic prospects would be buoyed by the resolution of trade conflicts.
Many central banks have acknowledged the building headwinds to growth, and financial conditions have eased as a result. Meanwhile, progress in US-China trade talks and policy stimulus in China have improved market sentiment and contributed to firmer commodity prices.
For Canada, the Bank was projecting a temporary slowdown in late 2018 and early 2019, mainly because of last years drop in oil prices. The Bank had forecast weak exports and investment in the energy sector and a decline in household spending in oil-producing provinces. However, the slowdown in the fourth quarter was sharper and more broadly based. Consumer spending and the housing market were soft, despite strong growth in employment and labour income. Both exports and business investment also fell short of expectations. After growing at a pace of 1.8 per cent in 2018, it now appears that the economy will be weaker in the first half of 2019 than the Bank projected in January.
Core inflation measures remain close to 2 per cent. CPI inflation eased to 1.4 per cent in January, largely because of lower gasoline prices. The Bank expects CPI inflation to be slightly below the 2 per cent target through most of 2019, reflecting the impact of temporary factors, including the drag from lower energy prices and a wider output gap.
Governing Council judges that the outlook continues to warrant a policy interest rate that is below its neutral range. Given the mixed picture that the data present, it will take time to gauge the persistence of below-potential growth and the implications for the inflation outlook. With increased uncertainty about the timing of future rate increases, Governing Council will be watching closely developments in household spending, oil markets, and global trade policy.
The next scheduled date for announcing the overnight rate target is April 24, 2019. The next full update of the Banks outlook for the economy and inflation, including risks to the projection, will be published in the MPR at the same time.
Young people not in employment, education or training: What did they do in the past 12 months?
Young people (aged 15 to 29) who are not in employment, education or training (NEET) are often considered to be more vulnerable than their peers, as they may face a risk of becoming disengaged or socially excluded, and could miss out on gaining skills or experience in the labour market.
While Statistics Canada has previously examined the characteristics of the NEET population,1 this is the first study to examine the main activities of NEET15- to 29-year-olds over a 12-month period using Labour Force Survey (LFS) data. 2 Among the activities to be analyzed are going to school, working, caring for children, and volunteering both as a main and secondary activity.
Overall, there were 6.9 million young people aged 15 to 29 in Canada in September 2018. Of those, 4.0 million were non-students (57.8%), while 2.9 million were students 3 (42.4%). Both categories (students and non-students) are then divided into the employed and the not employed. The NEET population consists of all non-students who are not employed: in September 2018, 779,000 people were in this category (11.3% of the total population aged 15 to 29).
Those aged 25 to 29 comprised the largest proportion (46.8%) of young people who were NEET during the LFS reference week, followed by 20 to 24 (36.9%), and 15 to 19 (16.2%). While NEET individuals were slightly more likely to be female (52.1%) than male (47.9%) overall, those aged 15 to 19 were a few percentage points more likely to be male, and those aged 25 to 29 were similarly likely to be female.
Of young people who were NEET in September 2018, 34.5% were unemployed (looking for work and available for work), and 65.5% were inactive (not looking for work). While each of these groups may be at risk of falling behind their peers on work experience, this concern is generally greater for those who are inactive, as they may face challenges entering or re-entering the labour force.
Both male and female NEET individuals were more likely to be inactive than unemployed, though the share of women that were out of the labour force (72.2%) was greater than the share of men (58.2%).