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That mortgage on your back? Relax. Here’s why

 
02.03.15 resized 600

You need to take a hard look at your finances this weekend to determine whether you should be making your RRSP contribution before Monday’s midnight deadline.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

The Other Costs Associated with Buying a Home

 
19.02.15 resized 600

Purchasing a home can be a very exciting and stressful time. Buyers, particularly first time buyers, need to be aware that there are a host of costs associated with buying a home above and beyond than the actual purchase price. It helps to know what those costs are in advance rather than get an unexpected surprise when closing that can add to an already stressful experience.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

January 2015 Housing Starts in Kitchener-Cambridge-Waterloo

 

TORONTO, ONTARIO--(Marketwired - Feb. 9, 2015) - Housing starts in the Kitchener-Cambridge-Waterloo Census Metropolitan Area (CMA) were trending at 5,342 units in January compared to 5,474 units in December, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Canadian economy to slow, Alberta unemployment to rise due to oil-price drop

 

The collapse in the world price of crude oil will put $1,000 in the average Canadian consumer’s pocket this year thanks to lower gasoline prices at the pumps, a new report notes.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Bank of Canada could press country’s top lenders to follow rate cut

 
27.01.15 resized 600

Richard's comments:  Hopefully BoC has enough influence over the Big Banks that we see a reduction in Prime. A drop in prime will help maintain, and possibly increase the value of homes in the Waterloo Region.  If this happens, keep your payments the same to ensure you are paying off your mortgage quickly and staying ahead of the game.  This will protect you if rates start to edge up and increase your equity in your home. 

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Bank of Canada shocks market with rate cut

 
21.01.15 resized 600

The Bank of Canada announced a surprise quarter-percentage-point cut to its key interest rate Wednesday – a move it calls “insurance” against the potentially destructive effects of the oil price collapse.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Cooling Calgary real estate adds to fears beyond energy sector

 
19.01.15 resized 600

Cracks are emerging in Calgary’s once red-hot market for commercial and residential real estate, adding to fears that rapidly sinking oil prices will trigger a broad slowdown beyond the energy sector.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Bank of Canada warns economy could be in for a rough ride

 
16.01.15 resized 600

The Bank of Canada is acknowledging for the first time that the world may be facing a prolonged oil-price slump, casting a dark shadow over the country’s economic prospects.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Paying down debt is the top priority for Canadians in 2015: CIBC poll

 
05.01.15 resized 600

TORONTO - A new poll suggests that paying down debt is the biggest financial priority for Canadians in 2015.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Household debt climbs to record 162.6 per cent of disposable income

 
17.12.14 resized 600

TORONTO — A sustained period of low interest rates has allowed Canadians to rack up record levels of debt which, along with tumbling oil prices, pose a threat to the country's financial stability, economists say.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365
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