2013 is a Blank Book.
Write a Good One!
Hope you are all having a fantastic 2013 so far. In addition to an update on the Bank of Canada rate, this week I want to share with you the Success Indicator Chart as well as a comparison of the average MLS home prices, by province, for November 2011 compared to November 2012. Hope you have a super rest of the week and feel free to call anytime - we're always here to help!
BANK OF CANADA UPDATE
The Bank of Canada today once again held it’s overnight rate at 1% in reaction to a continued weaker than expected economy. Furthermore they indicated that rates would continue to remain low for all of 2013 with a potential increase in 2014. Chief Economist, Cameron Muir of BCREA commented: “The Bank has revised its estimate for economic growth in 2012 lower, to 1.9 per cent, and now forecasts 2 per cent growth in 2013 before an acceleration to 2.7 per cent in 2014. Importantly, the Bank has also shifted its expectation that the economy will reach full capacity out to the second half of 2014. On inflation, the Bank expects growth in consumer prices to run significantly below its 2 per cent target for much of 2013 before gradually rising to target in 2014”.
So there you have it. Continued low rates for the foreseeable future. This news however does not mean you need to rush into a variable rate mortgage. Rates are anticipated to go up, so if you lock into a current low 5-year term that fits within your budget, you will be hedging yourself against potential rising interest rates next year. As always, everyone’s situation is unique. Our team can do a quick analysis and offer options that will secure you the lowest mortgage rate and help you to pay off your mortgage sooner. Call Us 604 536-3802 Vancouver 604 669-6006 Toll Free 1-800-687-9020
SUCCESS INDICATOR CHART
In the picture above and below is an interesting chart/list I came across recently. The Success Factor Indicator was created after MaryEllen Tribby - Accomplished US CEO - worked with some of the smartest, most successful enraptures in the US. After observing and interviewing them for many years, she compiled a list of characteristics, traits and behaviours of successful vs. unsuccessful people.
Life is not static, and none of us are perfect but these kinds of reminders help us all identify where we need to improve and strive for better relationships, quality of life and success in business. I hope you enjoy it!
The Success Factor Indicator
• Have a sense of gratitude
• Forgive others
• Accept responsibility for their failures
• Read everyday
• Keep a journal
• Talk about ideas
• Want others to succeed
• Share information and data
• Keep a "to-be" list
• Exude joy
• Keep a "to-do/project" list
• Set goals and develop life plans
• Embrace change
• Give other people credit for their victories
• Operate from a transformational perspective
• Have a sense of entitlement
• Hold a grudge
• Blame others for their failures
• Watch TV everyday
• Say they keep a journal but really don't
• Talk about people
• Secretly hope others fail
• Horde information and data
• Don't know what they want to be
• Exude anger
• Fly by their seat of their pants
• Never set goals
• Think they know it all
• Fear change
• Take all the credit of their victories
• Operate from a transactional perspective
Find out more about MaryEllen Tribby
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
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
Bank Lending Rate
October 24, 2012 3.00 %
December 5, 2012 3.00 %
January 23, 2013 3.00%
Exchange Rate $CDN($US)
November 28, 2012 1.0082
December 19, 2012 1.0120
December 31, 2012 1.0051
For more information on how the New Mortgage Rule Changes affect you - call 604 536-3802 or 604 669-6006
Jared Dreyer - Dreyer Group Mortgage Team
Your Mortgage Professionals
About Dreyer Group Smiles
Dreyer Group Smiles is a program dedicated to giving to facilities that provide safe and transitional housing to children and youth. By providing funds to these programs, Dreyer Group will make a meaningful difference to kids who otherwise may not have a roof over their heads, or hope for a bright future.
Dreyer Group hopes to expand this effort through their clients and business partners. In addition, they plan to raise additional funds through annual events and corporate fundraising initiatives. Dreyer Group is working closely with the Salvation Army to allocate these funds to the children and shelters.
About Dreyer Group Mortgages, A Member of the VERICO Brokers Network
As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.
Each VERICO member is an independently owned and operated business.
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