Mihir's Market Matters Report - Feb 2013

February 2013 Welcome to the February issue of Mihir's Market Matters Report. The February Flavours are the ongoing low Mortgage Interest Rates. The market has started to pick up if January indications are to be considered. A 2 bedroom, 2 bathroom house (17 foot x 93 foot) in East York sold on the weekend for $525,000. The asking was $487,000 and 8 multiple bidding offers came in. Are you in the market for purchasing a new property. You can refer to the attachment on property tax rates in and around GTA. In regards to the Mortgage Rates, I am able to offer the best rates in the Industry backed with exceptional customer service. RATES AS OF 6TH FEBRUARY 2013 QUICK CLOSE SPECIAL - 2.79% FIXED FOR 5 YEARS VARIABLE - Prime (-0.35%) for 3 YEARS FIXED - 2.89% FIXED FOR 5 YEARS (60 DAYS CLOSING) 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 December 4, 2012 1.00 % January 23, 2013 1.00 % March 6, 2013 Next meeting date Source: Bank of Canada Bank Prime Lending Rate December 5, 2012 3.00 % January 24, 2013 3.00 % March 7, 2013 Next meeting date Source: Bank of Canada Conventional Mortgage - 5 Year Rate*  November 21, 2012 5.24 % December 19, 2012 5.24 % January 23, 2013 5.24 % Source: Bank of Canada *Determinant for high ratio mortgage variable qualifying rate US Federal Reserve Board Discount Rate* December 11, 2012 0.00 % - 0.25 % January 30, 2013 0.00 % - 0.25 % March 20, 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) December 31, 2012 1.0051 January 17, 2013 1.0140 February 4, 2013 1.0014 Source: Bank of Canada Government of Canada Bonds Bond Type December 19, 2012 January 9, 2013 January 23, 2013 1 year Treasury Bill 1.10% 1.10% 1.07% 3 year Benchmark Bond Yield 1.22% 1.24% 1.20% 5 year Benchmark Bond Yield 1.40% 1.44% 1.40% 10 year Benchmark Bond Yield 1.84% 1.91% 1.87% Source: Bank of Canada Total New Housing Starts (Seasonally adjusted and annualized) Province October 2012 October 2011 November 2012 November 2011 December 2012 December 2011 Newfoundland/Labrador 3,400 3,500 3,700 3,900 3,800 3,000 PEI 800 900 800 1,500 1,300 800 Nova Scotia 9,400 3,300 3,200 2,800 3,200 8,500 New Brunswick 3,000 3,900 3,000 3,500 2,300 3,700 Quebec 43,300 44,500 48,400 47,200 42,800 50,300 Ontario 69,500 73,500 59,700 54,000 78,300 71,500 Manitoba 7,300 7,600 7,300 7,500 4,700 4,900 Saskatchewan 10,900 8,400 11,900 7,200 10,000 5,900 Alberta 33,600 31,600 39,700 29,900 30,000 28,300 British Columbia 28,100 30,400 23,700 28,200 21,800 23,000 CANADA 209,200 207,600 201,400 185,700 198,000 199,900 Source: CMHC Housing Now - January 2012 and January 2013. This seasonally adjusted data goes through stages of revision at different times of the year. Average MLS® Resale Price for Local Markets  City December 2011 December 2012 Halifax $ 254,228 $ 269,098 Saint John $ 162,859 $ 145,445 Quebec $ 254,652 $ 258,313 Montreal $ 319,388 $ 330,655 Ottawa $ 335,330 $ 336,856 Toronto $ 451,436 $ 478,739 Hamilton/Burlington $ 315,940 $ 336,382 Winnipeg $ 268,977 $ 257,719 Saskatoon $ 304,576 $ 324,597 Regina $ 273,919 $ 317,581 Calgary $ 392,661 $ 419,811 Edmonton $ 315,658 $ 329,410 Vancouver $ 689,057 $ 683,875 Victoria $ 469,484 $ 485,945 Source: Canadian Real Estate Association Household Credit Growth

Source: RBC Economics, February 2013

 

GTA Real Estate Market Report Jan 2013

GTA Real Estate Market Report Jan 2013

Click here to read complete report

NEWS RELEASE

Secured Investment Opportunity

Hi Friends,

Hope all of you are staying warm during this extreme cold temperatures this week. 

I am very happy to bring to you'll a very exciting Secured Investment Opportunity right at your door step. Would you like to EARN 9.50% Guaranteed Interest on your investment for 1 year?

• Have you ever wondered why your hard earned money is not fetching any returns lying in your Bank's Savings Account?
• Do you ever feel that you should use the equity in your property to get more returns?
• Are you someone who resists investing in GIC's as you don't want to lock your funds for an extended period of time?

Any one of the above scenarios or something else might be stopping you from gaining maximum returns on your savings. Well, I have got FANTASTIC NEWS for you.  I would like to offer you an opportunity to get great returns on your investment.....all secured and guaranteed. This is how it works. As you know I work in Mortgage Financing business. Most of my business is done with 'A' clients but many a times there are situations wherein my client's need to borrow money as 2nd or 3rd mortgages or as private financing. Some financial institutions do 2nd or 3rd mortgages but for private financing I rely on Investors like you to fund these deals. 

WHAT YOU NEED TO DO?

• Minimum investment of $25,000. Maximum investment: No limit.
• Minimum time for investment - 1 year. Maximum 5 years.
• Guaranteed Interest Rate: 9.50% (as of 24th Jan 2013)

HOW DOES IT WORK?

• You let me know your interest to invest. Amount and time period desired.
• I will look out for opportunities where I can get your investments done. 
• When a deal is to be put through your money is received by my company via cheque. Cheque gets deposited in Trust Account. Strictly no CASH dealings.
• Deal is signed with all legal documents prepared by us through our Lawyers. You don't pay any fees for Lawyers.
• Every month you get payment in your Bank Account based upon rate of return of your investment.
• At the end of your investment term you get your money back and the deal's discharge papers are signed.
• When you are ready to re-invest you let me know and we go through the process again.

I'm sure there could be many questions in your mind pertaining to this Secured Investment Opportunity. Feel free to email or call me and I will be more than happy to answer your queries.

As usual, thanks for your ongoing support in my Mortgage Business. Yes, it Indeed Makes A Difference!!!

Thanks.

Mihir

--

Mihir Oza

647-710-7374
Mortgage Agent (License # M11000672)
The Mortgage Practice

 

My Motto: Right Advice. First Time, Every Time.

 

Free Equifax Credit Report Form

Hi Everyone,

I'm sure by now all of you would have settled down in the New Year and looking forward to achieving your goals for 2013. 

As a professional Mortgage Agent I always advise my clients that no matter if you are in the market for purchasing your house or your renewal is coming up or you would like to consolidate your debts, the most important thing to watch out is your Credit History. 

There are way too many id frauds happening  now and  people are taking money from other people's bank account and credit cards.

Please make a habit to check your credit report (FREE) once a year. Fill this form and mail to Equifax with a copy of your id to get free report.

Thanks for taking the time to review the email and attachment.

Mihir

--

Mihir Oza

647-710-7374
Mortgage Agent (License # M11000672)
The Mortgage Practice

 

My Motto: Right Advice. First Time, Every Time.

 

Carbon Monoxide Detectors Save Lives

What is carbon monoxide?

Carbon monoxide (CO) is a highly poisonous substance produced by the incomplete burning of gas and Liquid Petroleum Gas (LPG).

 

This happens when a gas appliance has been incorrectly fitted, badly repaired or poorly maintained. It can also occur if flues, chimneys or vents are blocked.

 

Oil and solid fuels such as coal, wood, petrol and oil can also produce carbon monoxide.

 

 

What is carbon monoxide poisoning?

Carbon monoxide poisoning occurs when you breathe in even small amounts of the gas.

When you breathe in carbon monoxide, it gets into your blood stream and prevents your red blood cells from carrying oxygen. Without oxygen, your body tissue and cells die.

Levels that do not kill can cause serious harm to health when breathed in over a long period of time. Long term effects of carbon monoxide poisoning include Paralysis and brain damage. Such long term effects occur because many people are unaware of unsafe gas appliances and subsequent gas leaks.

 

 

How do I avoid a carbon monoxide leak in my home?

Your home may show signs of carbon monoxide. Any one of the following could be a sign that there is carbon monoxide in your home.

• The flame on your cooker should be crisp and blue. Lazy yellow or orange flames mean you need to get your cooker checked
• Dark staining around or on appliances 
• Pilot lights that frequently blow out 
• Increased condensation inside windows 

If you have a faulty appliance in your home, it could lead to carbon monoxide poisoning. Get your gas appliances checked

to avoid carbon monoxide poisoning.

 

Remember the six main symptoms to look out for:

1. headaches

2. dizziness 

3. nausea 

4. breathlessness 

5. collapse 

6. loss of consciousness 

What should I do if I experience any symptoms of carbon monoxide poisoning?

• Get fresh air immediately. Open doors and windows, turn off gas appliances and leave the house
• See your doctor immediately or go to hospital - let them know that you suspect carbon monoxide poisoning. They can do a blood or breath test to check 
• If you think there is immediate danger, call the Gas Emergency Helpline 
• Get a Gas Safe registered engineer to inspect your gas appliances and flues to see if there is a dangerous problem 

Don’t assume your gas appliances are safe: get a Gas Safe registered gas engineer to do a check. This is the only safe way to prevent yourself and those around you from incurring serious illness or death due to carbon monoxide exposure.

Mihir's Market Matters Report (Jan 2013)

January 2013 Happy New Year and Welcome to the January issue of Mihir's Market Matters Report.  The New Year has started in continuation of the trend of 2012 historic low interest rates. Have a look at a quick snapshot of the Best Rates as of 7th January 2013.                             5 years fixed @ 2.89% 3 & 5 years Variable @ Prime - 0.35%  3 years fixed @ 2.69% Feel free to call or email me to discuss about your mortgage, refinancing, debt consolidation or investment needs. 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, 2012 1.00 % December 4, 2012 1.00 % January 23, 2013 Next meeting date Source: Bank of Canada Bank Prime Lending Rate October 24, 2012 3.00 % December 5, 2012 3.00 % January 24, 2013 Next meeting date Source: Bank of Canada Conventional Mortgage - 5 Year Rate* September 26, 2012 5.24 % October 17, 2012 5.24 % November 21, 2012 5.24 % Source: Bank of Canada *Determinant for high ratio mortgage variable qualifying rate US Federal Reserve Board Discount Rate* October 24, 2012 0.00 % - 0.25 % December 11, 2012 0.00 % - 0.25 % January 30, 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 28, 2012 1.0082 December 19, 2012 1.0120 December 31, 2012 1.0051 Source: Bank of Canada Government of Canada Bonds Bond Type November 21, 2012 December 5, 2012 December 19, 2012 1 year Treasury Bill 1.07% 1.05% 1.10% 3 year Benchmark Bond Yield 1.19% 1.11% 1.22% 5 year Benchmark Bond Yield 1.34% 1.26% 1.40% 10 year Benchmark Bond Yield 1.76% 1.68% 1.84% Source: Bank of Canada Total New Housing Starts (Seasonally adjusted and annualized) Province September 2012 September 2011 October 2012 October 2011 November 2012 November 2011 Newfoundland/Labrador 3,800 3,500 3,500 3,500 3,600 3,900 PEI 1,400 1,300 800 900 700 1,500 Nova Scotia 6,100 6,100 8,300 3,300 2,600 2,800 New Brunswick 6,400 5,000 2,800 3,900 2,800 3,500 Quebec 49,500 57,800 41,400 44,500 47,000  47,200 Ontario 71,600 65,600 67,100 73,500 57,900 54,000 Manitoba 8,500 4,500 6,600 7,600 6,500 7,500 Saskatchewan 13,300 9,100 10,500 8,400 11,700 7,200 Alberta 33,300 24,900 33,300 31,600 38,900 29,900 British Columbia 29,500 29,800 29,100 30,400 24,500 28,200 CANADA 223,400 207,600 203,500 207,600 196,100 185,700 Source: CMHC Housing Now - December 2011 and December 2012. This seasonally adjusted data goes through stages of revision at different times of the year. Average MLS® Resale Price for Local Markets  City November 2011 November 2012 Halifax $ 262,714 $ 266,740 Saint John $ 159,101 $ 168,623 Quebec $ 250,918 $ 260,783 Montreal $ 323,011 $ 333,324 Ottawa $ 347,675 $ 350,211 Toronto $ 480,421 $ 485,328 Hamilton/Burlington $ 342,005 $ 369,201 Winnipeg $ 236,127 $ 263,786 Saskatoon $ 307,023 $ 330,125 Regina $ 273,243 $ 309,219 Calgary $ 398,722 $ 413,921 Edmonton $ 319,559 $ 331,526 Vancouver $ 728,118 $ 682,215 Victoria $ 499,676 $ 491,326 Source: Canadian Real Estate Association Source: TD Economics December 2012 Source: TD Economics December 2012