As posted in todays Toronto's Globe and Mail, new data out shows that housing starts in Canada jumped in January, yet another sign that the Canadian market continues strong while the U.S. market melts down.
Housing starts rose to 222,700 on a seasonally adjusted and annual basis, Canada Mortgage and Housing Corp. said Friday, up from 184,700 in December and more than economists had forecast.
“Historically low mortgage rates, solid employment and income growth, as well as a high level of consumer confidence, continue to underpin the high level of housing starts,” said Bob Dugan, chief economist at CMHC's Market Analysis Centre, adding that January's starts rebounded to a level more consistent with 2008 expectations of 211,700.
That would mark the seventh consecutive year of starts above 200,000.
The Canadian housing market is expected to remain in fairly good shape in 2008 and to remain an important source of economic activity in Canada, says economics strategist Millan Mulraine of TD Securities. “Though we expect it to fall below the blistering pace recorded in 2007. This is on account of the favourable labour market conditions, the continued strong growth in labour income and the expected drop in mortgage rates, as the Bank of Canada continues to lower the policy rate.”
Warmly,
Mary Wozny
Friday, February 8, 2008
Sunday, February 3, 2008
Exciting New Service For You!
I've often asked myself what my subscribers want? What else can I bring to the table to help them with their real estate investing and ensure that their deal closes?
Well, one of the most common problems that I hear about after you've found the property you want to invest in, is how do you get the financing for it?
Well I have the answer for anyone investing in real estate in Canada! Yes, you heard me, anywhere in Canada!
I've been working behind the scenes the last few months getting this ready to roll out for you in the New Year. So here it is!
Now you can bring your financing needs on your deals to me and my staff and we will find the right mortgage for you. I have aligned myself with the largest independent broker in Canada and have over 40 lenders to meet your unique needs. My team and I will work diligently to get you the right mortgage financing for your residential and commercial deals. Visit www.mortgagesforinvestments.ca and apply online today.
I personally know the challenges that we as real estate investors face when applying for mortgage financing and believe that offering this service to you is adding another 'tool' to your toolbox, a very important one at that!
Use the expert in creative real estate investing to help you get creative and organize or re-structure your financing today to meet all your investment needs. Refinance or HELOC, consolidate your debts, or finance your first purchase, we will get YOU the right mortgage for your specific needs.
Click here and apply online NOW!: www.mortgagesforinvestments.ca.
Warmly,
Mary Wozny
Well, one of the most common problems that I hear about after you've found the property you want to invest in, is how do you get the financing for it?
Well I have the answer for anyone investing in real estate in Canada! Yes, you heard me, anywhere in Canada!
I've been working behind the scenes the last few months getting this ready to roll out for you in the New Year. So here it is!
Now you can bring your financing needs on your deals to me and my staff and we will find the right mortgage for you. I have aligned myself with the largest independent broker in Canada and have over 40 lenders to meet your unique needs. My team and I will work diligently to get you the right mortgage financing for your residential and commercial deals. Visit www.mortgagesforinvestments.ca and apply online today.
I personally know the challenges that we as real estate investors face when applying for mortgage financing and believe that offering this service to you is adding another 'tool' to your toolbox, a very important one at that!
Use the expert in creative real estate investing to help you get creative and organize or re-structure your financing today to meet all your investment needs. Refinance or HELOC, consolidate your debts, or finance your first purchase, we will get YOU the right mortgage for your specific needs.
Click here and apply online NOW!: www.mortgagesforinvestments.ca.
Warmly,
Mary Wozny
Using Your RRSPs Toward a New Home
Most of us think about building retirement savings for the future. Too often, we forget that as first time homebuyers, we can get our retirement savings working for us a little earlier. Although sometimes things seem out of reach, on closer examination there is a solution around the corner. Purchasing that first home may be a lot more feasible than we imagine. By using your RRSPs for a down payment for example, you may be able to buy a home sooner.
The Federal Government has established a program where first time homebuyers can take advantage of savings they have accumulated in their RRSPs for the purchase of their first home. The program allows each participant to withdraw up to $20,000 in RRSPs to finance the purchase under the First Time Homebuyers’ Program ($40,000 per couple). The great news is that you have 15 years to pay it back!!
For those purchasers who already have the down payment saved, purchasing an RRSP with those funds may go financially further for you than the initial down payment. The transaction would also get you a tax deduction for the year in which the contribution was made. Potentially, at tax time, you would be eligible for a tax refund due to the RRSP contribution. The tax refund would represent additional funds that could be used for other incidentals and closing costs. One factor that is very important to remember here is that the RRSP funds must be on deposit for 90 days to be eligible.
The payback period is monitored and regulated by the Federal Government. They will remind you annually the amount that is required to be deposited in to your RRSP. As long as the program is adhered to, you have 15 years to repay with no penalty. It is borrowing from your golden years but not depleting your retirement savings.
Ask your Mortgage Alliance professional about other ideas to make your purchase a little easier. Contact Mary Wozny at http://www.MaryWozny.com
For more information on the First Time Homebuyers’ Program please visit www.ccra.ca
Warmly,
Mary Wozny
The Federal Government has established a program where first time homebuyers can take advantage of savings they have accumulated in their RRSPs for the purchase of their first home. The program allows each participant to withdraw up to $20,000 in RRSPs to finance the purchase under the First Time Homebuyers’ Program ($40,000 per couple). The great news is that you have 15 years to pay it back!!
For those purchasers who already have the down payment saved, purchasing an RRSP with those funds may go financially further for you than the initial down payment. The transaction would also get you a tax deduction for the year in which the contribution was made. Potentially, at tax time, you would be eligible for a tax refund due to the RRSP contribution. The tax refund would represent additional funds that could be used for other incidentals and closing costs. One factor that is very important to remember here is that the RRSP funds must be on deposit for 90 days to be eligible.
The payback period is monitored and regulated by the Federal Government. They will remind you annually the amount that is required to be deposited in to your RRSP. As long as the program is adhered to, you have 15 years to repay with no penalty. It is borrowing from your golden years but not depleting your retirement savings.
Ask your Mortgage Alliance professional about other ideas to make your purchase a little easier. Contact Mary Wozny at http://www.MaryWozny.com
For more information on the First Time Homebuyers’ Program please visit www.ccra.ca
Warmly,
Mary Wozny
Subscribe to:
Posts (Atom)
