Mihir's Market Matters Report - January 2014

January 2014 Welcome to the January issue of Mihir's Market Matters Report. I would like to wish you All a Very Happy New Year. May the New Year bring in more financial prosperity in your lives. Mortgage rates have remained steady over the Christmas and New Year's break.  Do you have Equity in your Home?  Would you like to earn Secured High Interest from your Equity? Are you looking to take your Equity out to re-invest somewhere else? Contact me today for more details on 2nd Mortgages and Private Financing. You can earn more then 10% interest on your investments !!! BEST RATES AS OF 3rd JANUARY 2014 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 @ 2.74% QUICK CLOSE SPECIAL - 3.25% 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* November 27, 2013 5.34 % December 11, 2013 5.34 % December 25, 2013 5.34 % Source: Bank of Canada *Determinant for high ratio mortgage variable qualifying rate US Federal Reserve Board Discount Rate* October 30, 2013 0.00 % - 0.25 % December 18, 2013 0.00 % - 0.25 % January 29, 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) November 27, 2013 0.9438 December 11, 2013 0.9440 December 31, 2013 0.9402 Source: Bank of Canada Government of Canada Bonds Bond Type November 20, 2013 December 11, 2013 December 25, 2013 1 year Treasury Bill 1.02% 0.98% 0.97% 3 year Benchmark Bond Yield 1.23% 1.17% 1.20% 5 year Benchmark Bond Yield 1.80% 1.80% 1.90% 10 year Benchmark Bond Yield 2.62% 2.64% 2.72% Source: Bank of Canada Total New Housing Starts (Seasonally adjusted and annualized)   Source: CMHC Housing Now - December 2012 and December 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  Housing Resale Numbers    Source: RBC Economics, December 2013  Home Resales in Canada  Source: RBC Economics, December 2013

   

You have received this e-mail because you or someone who has a personal or family relationship with you, has requested it be sent. If you wish to be removed from the distribution list, simply reply to this email with subject line: UNSUBSCRIBE. Thanks and sorry for the inconvenience caused to you.