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Mortgage rates to jump in 2011 says BCREA November 28, 2010

Posted by Mary Pougnet in Finance, Housing, Mortgages, Real Estate in Canada.
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The one-year fixed mortgage rate is forecasted to finish 2010 at around 3.2 per cent and reach 4.05 per cent by the end of 2011, according to the British Columbia Real Estate Association (BCREA). The association cites the Bank of Canada’s fiscal tightening and brighter economic prospects as the driving reasons.
 
However, Joe Santos, MCAP regional vice-president of western Canada, sees it differently. “Currently, the one-year fixed rate is 2.9, so for it to go to 4.05 by the end of next year, that’s an increase of about 115 basis points, which is fairly substantial,” said Santos. “I would be surprised if it increased by that much because of the continued economic uncertainty in Europe and the U.S. economy hasn’t really picked up either. Employment is still an issue down there.”
 
Santos says rates are anticipated to increase in 2011 but a jump from 3.2 to 4.05 per cent is a long shot.
 
In any case, the average interest rate is still historically low. This would be a good time to purchase a new home as BCREA also predicted that real estate in the western province is now shifting to a buyer’s market. “A relatively large number of homes for sale have created the most favourable supply conditions for home buyers in more than a year,” said Cameron Muir, BCREA chief economist.

Santos agrees. “This year and early next year would be the time to get out there and purchase houses especially if you’re going to be in it for the long term,” he said. “The risk is pretty minimal if you’re there for 10 years or more.”

Wishing everyone a blessed and joyous Th November 25, 2010

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Wishing everyone a blessed and joyous Thanksgiving with your families and friends. Namaste.

Lack of activity destroys the good condi November 21, 2010

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Lack of activity destroys the good condition of every human being,while movement & methodical physical exercise save it and preserve it.~Plato

You yourself, as much as anybody in the November 16, 2010

Posted by Mary Pougnet in Uncategorized.
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You yourself, as much as anybody in the entire universe, deserve your love and affection. ~ Buddha

The future is yours to shape … But if November 11, 2010

Posted by Mary Pougnet in Uncategorized.
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The future is yours to shape … But if you don’t get involved, then somebody else is going to shape it for you. (President Obama – 11/1/10)

Glorious morning,sun’s shining, crisp November 10, 2010

Posted by Mary Pougnet in Uncategorized.
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Glorious morning,sun’s shining, crisp & cool and… I hear opportunity knocking! Yes! I wonder if anyone else is serious about making money?

If you’re not having fun working toward November 8, 2010

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If you’re not having fun working towards your business goals, either you’ve chosen the wrong goals or the wrong vehicles to obtain them.

Housing slowdown suggests prudent debt management: CIBC September 26, 2010

Posted by Mary Pougnet in Finance, Housing, Mortgages, Real Estate in Canada.
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The housing slowdown suggests consumers are being more “prudent” with credit after accumulating a record amount of household debt earlier this year, said CIBC’s CEO.

Gerry McCaughey is confident that Canadians can maintain meeting their payments and suggested that the mortgage lending slowdown is positive at an investor conference sponsored by his bank in Montreal.
 
“The consumer is probably taking a pause and acting in a prudent fashion, and that’s what’s driving this slowdown in the housing market,” said McCaughey. “I think that is a good thing because interest rates will rise back to normal levels. It would be a good idea to have the level of total debt at a more manageable state.”
 
Earlier this month, Statistics Canada reported household debt hit $1,481 trillion during the second quarter of 2010, up from $1.385 billion during the same period last year.

Blog Post ~ Soy Food & Isoflavone Intake September 21, 2010

Posted by Mary Pougnet in Uncategorized.
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Blog Post ~ Soy Food & Isoflavone Intakes Reduce Breast Cancer Risk http://ow.ly/2HAUO

It’s official! I’m now a resident of O September 13, 2010

Posted by Mary Pougnet in Uncategorized.
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It’s official! I’m now a resident of Ottawa, my name is officially changed back to my maiden name Pougnet, ID all changed… I’m so excited!

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