Mihir's Market Matters Report - December 2013

December 2013 Welcome to the December issue of Mihir's Market Matters Report. As we near the end of 2013 and as we get busy to start the holiday season take some time to review how the year went by for you financially speaking.   Are you planning to move in 2014? Your renewal is coming up in next 4 months? Any plans for debt consolidation? For any mortgage related questions feel free to call or email me on the contact details given below. Lastly, I would like to share joy this Holiday Season with you and your family. Please find attached in the email 2 exclusive discount coupons for you and your family courtesy of Cakes n Bakes & Kwick Kutz Beauty Salon.  BEST RATES AS OF 10th DECEMBER 2013 Variable Rate: 3 years @ Prime - 0.55 or 2.45% Variable Rate: 5 years @ Prime - 0.40 or 2.60% 2 years Fixed @ 2.69% 3 years Fixed @ 2.89% QUICK CLOSE SPECIAL - 3.29% FIXED FOR 5 YEARS Regular Rate: 3.39% FIXED FOR 5 YEARS Pre-Approvals: 3.49% FIXED FOR 5 YEARS Thanks Mihir Oza 647-710-7374 Mortgage Agent (License # M11000672) The Mortgage Practice My Motto: Right Advice. First Time, Every Time. Bank of Canada Interest Rate October 23, 2013 1.00 % December 4, 2013 1.00 % January 22, 2014 Next meeting date Source: Bank of Canada Bank Prime Lending Rate October 24, 2013 3.00 % December 5, 2013 3.00 % January 23, 2014 Next meeting date Source: Bank of Canada Conventional Mortgage - 5 Year Rate* October 23, 2013 5.34 % November 13, 2013 5.34 % November 27, 2013 5.34 % Source: Bank of Canada *Determinant for high ratio mortgage variable qualifying rate US Federal Reserve Board Discount Rate* September 18, 2013 0.00 % - 0.25 % October 30, 2013 0.00 % - 0.25 % December 18, 2013 Next meeting date Source: US Federal Reserve *US Federal Reserve has indicated it will now keep this rate until unemployment reaches 6.5% Exchange Rate $CDN($US) October 23, 2013 0.9630 November 13, 2013 0.9558 November 27, 2013 0.9438 Source: Bank of Canada Government of Canada Bonds Bond Type October 23, 2013 November 6, 2013 November 20, 2013 1 year Treasury Bill 0.99% 1.00% 1.02% 3 year Benchmark Bond Yield 1.28% 1.24% 1.23% 5 year Benchmark Bond Yield 1.73% 1.78% 1.80% 10 year Benchmark Bond Yield 2.43% 2.53% 2.62% Source: Bank of Canada Total New Housing Starts (Seasonally adjusted and annualized)  Source: CMHC Housing Now - November 2012 and November 2013. This seasonally adjusted data goes through stages of revision at different times of the year. Average MLS® Resale Price for Local Markets   Source: Canadian Real Estate Association Quarterly Household Survey - Q3 2013

The measures are based on a 25% down payment, a 25-year mortgage loan at five-year fixed rate, and are estimated on quarterly basis.
Source: RBC, November 2013