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Canadian home sales edge higher in April
May 15, 2012
Home sales up 0.8% from March to April. Actual (not seasonally adjusted) activity stood 11.5% above levels in April 2011. The size of the year-over-year increase reflects a slowdown in sales last April following changes to mortgage rules which came into effect on March 18, 2011.
Wanted for a Successful Retirement: A Debt-Freedom Plan
May 14, 2012
This is the first time that Manulife Bank has focused on surveying Canadians about debt in the context of retirement planning. The survey found that half of Canadians - more women (54%) than men (46%) - would find it extremely stressful to reach retirement age with debt still outstanding.
Women more likely to be first-time homebuyers in next two years: RBC poll
May 14, 2012
"We are seeing more single women entering into the housing market, as income levels, changing demographics and lifestyle patterns shift purchasing habits," said Marcia Moffat, head of home equity financing, RBC. "But women are being more cautious than men, weighing cost, affordability and job security before buying a home.
Housing starts up from March
May 8, 2012
“Most of the increase was in the multiples segment. The increase in this segment is partly a reflection of the high level of pre-sales in large multi-unit projects since 2011, which is in line with job gains over the last year,” said Mathieu Laberge, Deputy Chief Economist at CMHC’s Market Analysis Centre. “Looking at single-detached homes, 67,700 such units were started across Canada in April, a rate which is consistent with that of the recent past,” added Laberge.
Newcomers list advice as key ingredient in establishing their financial life in Canada: RBC
May 2, 2012
"Building a new life in a new country is no small feat. Newcomers are faced with a myriad of tasks and decisions to ensure their future success," said Paul Sy, director, Multicultural Markets, RBC. "Among these are important financial decisions and professional advice can be critical to overcoming obstacles and challenges in this area. That's why speaking to a financial advisor, someone who understands the challenges and can provide solutions, is integral to helping newcomers build their lives in Canada."
News provided by: Canada Mortgage Magazine

Renewals

Renewing your current Mortgage could save you thousands in interest
Many Canadians don't shop around when it comes time to renew their existing mortgage. If you renew your mortgage with your current lender without shopping the market, you may lock in a mortgage rate that is significantly higher than necessary. Take the time to consider all of your options. Mortgage rates are still at record lows. Now is the time to really explore your renewal options, it could save you thousands.

Pay off your Mortgage years earlier
A VERICO mortgage advisor will help you shop the market before you renew, to ensure that you get the best rates available, helping you to lower your monthly payments or pay off your mortgage years sooner.

Rely on a VERICO Mortgage Advisor to ensure you are making the right decision while also getting the service you deserve. We will meet with you to review your current mortgage and renewal options and make sure you renew with the best rate and terms available.

Even if you are not currently up for renewal it pays to plan ahead. So don't wait...Contact us today online, in person or by phone and let's get your renewal strategy in place...it could save you thousands!