Prices may rise in the spring due to there not being enough inventory in Calgary
Friday, February 26, 2010
Remax warns not enough homes for buyers
Remax warns not enough homes for buyers
Prices may rise in the spring due to there not being enough inventory in Calgary
Prices may rise in the spring due to there not being enough inventory in Calgary
Interesting Bank Statistics
Number of credit cards (VISA, MasterCard) in circulation (2008): 68.2 million
|There are about 34 million Canadians. This equates to 2 cards per person. But think about it.
This is every Canadian. That means that if you have 4 children and 2 parents in a household you would have 12 credit cards.
Scary, isn't it? While one or two cards for an adult is okay, we obviously have too much available credit. Most of this is at 19-24% interest rates which is almost impossible to pay off if you make minimum payments.
A better solution is to open a line of credit which will be at prime plus one or two per cent. Prime is currently 2.25%. At this rate, you can make monthly payments and actually pay down your debts.
Call me or apply online for a line of credit at my website
http://mortgagealliance.ca/davidcooke
Make 2010 the year when you get control of your debts.
|There are about 34 million Canadians. This equates to 2 cards per person. But think about it.
This is every Canadian. That means that if you have 4 children and 2 parents in a household you would have 12 credit cards.
Scary, isn't it? While one or two cards for an adult is okay, we obviously have too much available credit. Most of this is at 19-24% interest rates which is almost impossible to pay off if you make minimum payments.
A better solution is to open a line of credit which will be at prime plus one or two per cent. Prime is currently 2.25%. At this rate, you can make monthly payments and actually pay down your debts.
Call me or apply online for a line of credit at my website
http://mortgagealliance.ca/davidcooke
Make 2010 the year when you get control of your debts.
Wednesday, February 17, 2010
Canadian Mortgage Broker News - From the Press: What people are saying about the new mortgage rules
What people are saying about the new mortgage rules. I tend to agree that going from 100% financing to a new maximum of 80% for revenue properties is drastic and it will kill this market.
I just got an email 2 days ago from a broker in Phoenix offering me a chance to buy a 4plex with nothing down. It was fully rented out. It looks like the US might be a better place to invest now.
What people are saying about the new mortgage rules.
I just got an email 2 days ago from a broker in Phoenix offering me a chance to buy a 4plex with nothing down. It was fully rented out. It looks like the US might be a better place to invest now.
What people are saying about the new mortgage rules.
Tuesday, February 16, 2010
Mortgage Rules Change
This morning Jim Flaharety , the finance minister, changed the rules for obtaining a mortgage. He wants to make it more difficult for people to buy a home and to discourage people buying revenue properties. Here are the 3 new rules
Monday, February 15, 2010
5 Steps to Personal Power
Brian Tracy is a motivational speaker who follows the teachings of Napoleon Hill. Here is an example of some of his work.
Five Steps to Personal Power
By Brian Tracy
There is a five-step power process that you can use to keep yourself positive and to achieve your goals faster. This five-step process brings together several of the very best techniques ever discovered for permanent mind change. It contains and illustrates all of the key principles that you need to know to become a highly effective, positive "possibility thinker" in your own life.
Imagine Your Perfect Future
Perhaps the biggest obstacle to creating a wonderful life is "self-limiting beliefs." Everyone has them, and some people have so may of them that they are almost paralyzed when it comes to taking action. A self-limiting belief is an idea you have that you are limited in some way, in terms of time, talent, intelligence, money, ability, or opportunity. The way you free yourself from these negative brakes on your potential is to change your thinking about who you are and what is truly possible for you.
Show Me the Money
Start with your income. How much do you want to be earning, one, two, three, and five years from today? Look around you and ask, "Who else is earning the kind of money I want to earn, and what are they doing differently from me?" If you don't know or you aren't sure, go and ask them. Do your homework.
Design Your Perfect Life
Imagine your perfect lifestyle. If you had no limitations at all, how would you like to live, day in and day out? If you were financially independent, what kind of home would you live in? What kind of car would you want to drive? What kind of life would you like to provide for your family? What sort of activities would you like to engage in throughout the week, month, and year?
Turn Your Ideal into Reality
When you sit down and design your ideal lifestyle, you can then compare it to what you are doing today and notice the differences. You can then start thinking about how you could bring your real or current lifestyle closer to your ideal. When you idealize your income and your lifestyle, you develop vision for your life. You begin to practice a key quality of personal leadership. You begin projecting into the future and making plans to turn your future dreams into a current reality.
The Person you Become
Create an ideal future self in terms of your personal and professional development. What kind of person do you want to be in the future? What additional knowledge and skills do you want to acquire? In what areas would you like to become absolutely excellent? What subjects would you like to master? What do you need to learn to move up in your field? What is your growth plan to get from where you are to where you want to go?
Action Exercise
Look for something good in every problem or difficulty. Practice being an inverse paranoid, convinced that there is a vast conspiracy to make you successful.
Five Steps to Personal Power
By Brian Tracy
There is a five-step power process that you can use to keep yourself positive and to achieve your goals faster. This five-step process brings together several of the very best techniques ever discovered for permanent mind change. It contains and illustrates all of the key principles that you need to know to become a highly effective, positive "possibility thinker" in your own life.
Imagine Your Perfect Future
Perhaps the biggest obstacle to creating a wonderful life is "self-limiting beliefs." Everyone has them, and some people have so may of them that they are almost paralyzed when it comes to taking action. A self-limiting belief is an idea you have that you are limited in some way, in terms of time, talent, intelligence, money, ability, or opportunity. The way you free yourself from these negative brakes on your potential is to change your thinking about who you are and what is truly possible for you.
Show Me the Money
Start with your income. How much do you want to be earning, one, two, three, and five years from today? Look around you and ask, "Who else is earning the kind of money I want to earn, and what are they doing differently from me?" If you don't know or you aren't sure, go and ask them. Do your homework.
Design Your Perfect Life
Imagine your perfect lifestyle. If you had no limitations at all, how would you like to live, day in and day out? If you were financially independent, what kind of home would you live in? What kind of car would you want to drive? What kind of life would you like to provide for your family? What sort of activities would you like to engage in throughout the week, month, and year?
Turn Your Ideal into Reality
When you sit down and design your ideal lifestyle, you can then compare it to what you are doing today and notice the differences. You can then start thinking about how you could bring your real or current lifestyle closer to your ideal. When you idealize your income and your lifestyle, you develop vision for your life. You begin to practice a key quality of personal leadership. You begin projecting into the future and making plans to turn your future dreams into a current reality.
The Person you Become
Create an ideal future self in terms of your personal and professional development. What kind of person do you want to be in the future? What additional knowledge and skills do you want to acquire? In what areas would you like to become absolutely excellent? What subjects would you like to master? What do you need to learn to move up in your field? What is your growth plan to get from where you are to where you want to go?
Action Exercise
Look for something good in every problem or difficulty. Practice being an inverse paranoid, convinced that there is a vast conspiracy to make you successful.
Thursday, February 11, 2010
Ottawa thinking about tightening mortgage rules
Ottawa is pondering advice it received from the big 6 banks. They want the minimum down payment to be increased to 10% or amortizations shortened to 30 years.
The president of ING mortgages disagrees. He wants to qualify borrowers using a higher interest rate to ensure that when rates rise as we know they will, people will be able to handle the higher payments.
http://bit.ly/bSvu50
http://www.mortgagebrokernews.ca/news/43554/details.aspx
The president of ING mortgages disagrees. He wants to qualify borrowers using a higher interest rate to ensure that when rates rise as we know they will, people will be able to handle the higher payments.
http://bit.ly/bSvu50
http://www.mortgagebrokernews.ca/news/43554/details.aspx
Tuesday, February 9, 2010
Advisors News | Economic | ADVISORS - January housing starts on the rise
January housing starts for Canada on the rise
Advisors News Economic ADVISORS - January housing starts on the rise
Advisors News Economic ADVISORS - January housing starts on the rise
Friday, February 5, 2010
Although we expect mortgage rates to go up in the next 4 months they are defying the odds and have dropped this week. I now have 5 year variable rate mortgages at Prime - 25% or 2%
Fixed rates dropped as well to 3.69%
To think, that when I got my first mortgage I got 9.98% which was below double digits and I was in 7th heaven.
Fixed rates dropped as well to 3.69%
To think, that when I got my first mortgage I got 9.98% which was below double digits and I was in 7th heaven.
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