Blog by DOINA BIOLAN B.Comm

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Benchmark rate

November 23rd, 2012
Understanding Bank of Canada Benchmark Rate:  The Benchmark rate is set by the Bank of Canada. It is calculated each Wednesday and set the following Monday.  But what does "calculated" mean?  Well, each week the BOC looks at the 'posted' 5 year rate from the 'Big 6' banks.  An average is taken (using mode), and that becomes the benchmark rate.  To find the most recent Wednesday calculat ...
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Posted in Mortgages

MERCHANT ADVANCE LOANS

November 15th, 2012
NEED AN ADVANCE MERCHANT LOAN TO GROW YOUR BUSINESS? Small businesses see plenty of opportunities slip by because they don’t have the money to capitalize on them. Here is one of many examples:Buying extra inventory ahead of high seasono Retailers often sell their goods for multiples of what it cost them to buy.o Sometimes retailers can get substantial discounts for paying cash for inventory. ...
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Posted in General

HELOC at Prime!

November 15th, 2012
HELOC at Prime ( 3%). Special conditions apply***Call us for details at 403-613-2205
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Posted in Mortgages

AFTER US ELECTION

November 13th, 2012
HIGHLIGHTS OF THE WEEK United States •    The federal election eclipsed the relatively positive spate of economic data this week. The results, however, leave the state of U.S. politics in the same place they were prior to November 6th, with the same President and roughly the same cast of characters in Congress. •    Now that the election is over, attention must turn to the “fiscal clif ...
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Posted in Investments

BORROWED DOWN PAYMENT PROGRAM CHANGES

November 2nd, 2012
 Borrowed Down Payment program changes As per new OSFI regulations, most banks will no longer participate in this program. Down payments must be from own resources and/or gifted from an immediate family member. Only down payments borrowed against a secured line of credit will be acceptable and 1.25% of the balance will be added up into your other debts, bringing down the maximum mortgage ...
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Posted in General

qualifying mortgage rate announcement

November 2nd, 2012
MORE BAD NEWS REGARDING MORTGAGE CHANGES FROM OSFI Effective immediately the Qualifying Rate most banks use currently use for High Ratio loans will now be extended to Conventional loans as well.   This means: . For High Ratio and Conventional mortgages with a fixed rate term of less than 5 years the qualifying interest rate is the greater of the Bank of Canada qualifying rate and t ...
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Posted in Mortgages

4 year fixed rate update

October 25th, 2012
4 year fixed rate is 2.89% today!Special conditions apply, call me for details.
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Posted in Mortgages

Protect your mortgage and family by getting disability insurance coverage

October 24th, 2012
Are you self employed? Employee, but no health benefits or disability insurance? What it will happen to your family if you get sick, you go to the hospital for surgery or have an accident? Are you going to pull out your RRSP's? Use your credit cards to pay your bills? Ask your family or friends for a loan? Do you know that aprox. 50% of bankruptcy cases in Canada are due to an acci ...
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Posted in General

Lending rate remains unchanged

October 23rd, 2012
  The Bank of Canada is leaving its key lending rate unchanged at one per cent. Oct 23 2012 The announcement came Tuesday morning, in a statement that notes the U.S. economy is expanding at a "gradual pace," indicators point to a "continued contraction" in Europe, and growth has slowed "more than expected" in China and other emerging economies. For Canada, the ...
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Posted in Mortgages

Bond rates

October 22nd, 2012
TSX +177.74 to 12,407.70    DOW +127.55  to 13,55178 Dollar +0.0008 to 101.25 Oil +0.37 to 92.46 Gold +6.00 to 1,752.30 *these numbers have been taken from www.tmxmoney.com as at 7:30AM EST   Canadian 5 yr bond yields markets 0.014 to 1.344 .
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Posted in Investments

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