| |  | 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. | |
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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
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