January 2013 Rate Update

First off, happy New Year and thanks for your continued support! It has enabled us to keep our very small company as one of the leading Canadian firms alongside the large organizations. We saw many government changes in the mortgage industry in 2012 with the general goal of curbing borrowing. In the latter half of the year these changes became obvious as they amplified the effects of the already cooling real estate market.  In 2013 real estate will continue to cool and borrowers will still feel the impacts of the rule changes as they work though the system.  There are bullish factors (interim resolve of the fiscal cliff, upcoming spring market) and bearish factors (US economy, Eurozone risk, CDN economic conditions) that will determine the direction of bond yields & interest rates; BUT, barring an economic miracle rates will remain low. It doesn’t hurt to take a historically low fixed interest rate depending on what your goals are and what your current rate/product is.

We look forward to continuing to help you, your friends, and family.  Please don’t hesitate to call/email us anytime to address any concerns regarding existing mortgages you have or ones you wish to apply for in the future.

Talk soon,
Gord, Steve and Jeff

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