Full-time Ontario Employment Recovery

Ontario full-time employment rates have recovered to pre-recession levels, according to an article in The Toronto Star, May 7, 2011. This helps give Ontario home buyers peace of mind, if they are considering purchasing a home or re-financing, as we see most of these jobs being generated by the private sector and these statistics are for full-time employment. The last three months have seen steady improvement in full-time jobs, indicating that Ontario's employment recovery is now back to pre-recession levels.

Please remember that although the interest rates on a 5-year term jumped a little last week, the 3 and 4-year terms are very low, as is the variable rate I am able to provide to my clients. And as far as the history of mortgage rates go, we are still in very historic low rates. Some variable rate products I can offer you allow you to have a 5-year term, and if you think you might sell your home before the 5 years is up, the penalty is as low as 3 months' interest.

As a Licenced Mortgage Agent for Mortgage Alliance, the largest brokerage in Canada, and a member of the Masters Club for Mortgage Alliance, I can provide an amazingly wide array of mortgage solutions for refinancing, purchasing, and debt management.

Don't let a penalty from your current mortgage holder deter you from exploring a refinance - sometimes paying the penalty to get into lower rates for a longer term pays for itself in just a few months !

Being a recipient of Rookie of the Year for a previous year, as recognition of top sales volume across Canada, this indicates to you, my client, that I will work tirelessly to find suitable financing for you !

Please send me a quick email - dhagerman@mortgagealliance.com - so we can talk; my services are free except for the rarest of situations.

Enjoy your week !

Dilys Anne Hagerman
Mortgage Alliance

So, what a great day it is today ! Three clients this week are now pursuing the dreams they have had, by setting up a first mortgage and a line of credit behind that mortgage.

Many people are in high-interest mortgages, compared to the record lows Canada is currently enjoying. Switching your current mortgage generally is at no cost to you, except for possible penalties to the lender. Often the penalty charges are evened out by the money saved in having a lower interest mortgage.

Putting a line of credit behind the mortgage gives you money to use when you need it - you do not pay any interest until you use that money.

So, for the dreams - one client is building his own new home with the line of credit and the extra monthly cash he has because the lower interest rate has saved him over $500 a month in mortgage payments
- another client is able to have a barn built for their horses so they don't have to board them at a remote location
- another client now has the available money to pay for both of their children to go to university this year and next

Please send me an email - dhagerman@mortgagealliance.com, or give me a quick call at 613.290.4043.

Running out of cash ?

Running short of cash ? Paying a lot out every month and feeling like you are never getting ahead ?

Please, let me take a look at your mortgage situation and your debt – see below what happened with three of my clients just last week !!

1. 1. Income of $48,000. Mortgage of $155,000. Credit card debt of $13,000. I renegotiated their mortgage by paying it out and adding all their debt. BELIEVE THIS – their monthly mortgage payment now is $1,050 LESS a month and as well, I incorporated all their credit card debt into their new mortgage !

2. 2. Income of $77,000. Mortgage of $165,000. Credit card debt of $41,000. I renegotiated their mortgage by paying it out and adding all their debt. Their monthly mortgage payment now is $865 a month LESS and all their credit card debt was added to the new mortgage.

3. 3. Income of $133,000. Mortgage of $198,000. Line of credit for $105,000. I renegotiated this so that my clients are paying $675 LESS than they were with exactly the same debt.

You must not be “scared” away by your current mortgage holder who says you have a penalty to pay out. In almost all cases, with the interest rates now so low, it is worth it to pay the penalty to close out early.

Is your mortgage coming up for renewal in the next 6 months ?? The penalty is so low by then, and the renewal offer (which comes quite close to the renewal date so it makes it difficult for you to then price-shop) from your current mortgage holder is often not at the discounted rate I can get from the many lenders I deal with, that I can almost be sure I can lower your monthly payments !!

Please email me at hagerman@travel-net.com or call me at 613.290.4043 so we can take a look. My services are free.

According to CMHC in 2009, "Prices: After
experiencing buyers market conditions in
early 2009, Ontario resale markets have
tightened and balanced market conditions
will be restored. As a result, Ontario
existing home MLS® prices will grow
to $314,550 this year and to $326,800
next year." CMHC website

This is important to remember as you consider whether you should buy a home now or not. Looking for a new home for you today could position you to take advantage of the housing prices today before they rise as predicted by CMHC.

Realtors are listing every day now as the days lengthen and we get excited about a home purchase.

Please contact me at 613.290.4043, or through my website "dilys4mortgages.ca", or better yet, apply through my website, even if you don't have a specific home in mind.

Have a wonderful week ! If you have birds around your home or apartment, consider putting up a suet feeder for those furry friends who need extra calories this time of year !!!

Wrapping up the New Year

Another year is about to end. We started with a nervous population as we all speculated what the financial meltdown in the US would look like in Canada. As it turns out, home sales were good, and interest rates the lowest a generation has seen !!

What a difference 12 months makes. In that vein, think smart, and review your mortgage details. The numbers may add up for you to re-negotiate your mortgage at the current low rates, and perhaps incorporating other debt at the same time.

Contacting a Mortgage Agent, such as myself, could be your first smart move of 2010. If you are considering switching lenders, many lenders offer a no-cost-to-you switch program.

As well as finance, remember the ones you love ! As always, your family and friends are the most important.

Have a wonderful Happy New Year !!

Dilys Anne Hagerman
Licence M09000865
Mortgage Alliance