Tuesday, March 18, 2008

US Feds Slash Interest Rates

As reported in the Globe and Mail this afternoon, the U.S. Federal Reserve Board slashed interest rates by three-quarters of a percentage point Tuesday and left the door open to more cuts, moving aggressively to stem a financial market meltdown and avert an economic recession.
Under the watch of Chairman Ben Bernanke, the Federal Open Market Committee voted at its scheduled meeting to bring the benchmark U.S. federal funds lending rate down to 2.25 per cent. The Fed's decision was not unanimous, with two of 10 policy makers dissenting in favour of “less aggressive action.”

In the statement accompanying the decision, the Fed said that the outlook for economic activity has weakened further, consumer spending has slowed and labour markets have softened. “Financial markets remain under considerable stress, and the tightening of credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters.”

The central bank also noted that although it expects inflation to moderate in the coming quarters, uncertainty over the outlook for inflation has increased.

“Today's policy action, combined with those taken earlier, including measures to foster market liquidity, should help to promote moderate growth over time and to mitigate the risks to economic activity,” the Fed said. “However, downside risks to growth remain.”
Charmaine Buskas, a senior economic strategist with TD Securities, said the tone of the Fed's statement points to further rate cuts, with the central bank noting that it will “act in a timely manner as needed to promote sustainable economic growth” and price stability.

“Given that credit markets remain in a fundamental paralysis, and the economy continues to unwind, we are of the view that the Fed will remain in an easing cycle for the next few meetings,” Ms. Buskas said. “The key issue is to first unclog the credit markets and get the wheels turning again.”

Ian Shepherdson, the chief U.S. economist at High Frequency Economics, said that by April 30 Mr. Bernanke should be able to extract another 50-basis-point cut from his more reluctant colleagues. “This will all make no difference to the near-term data, but it is a necessary precondition for recovery, eventually.”

Tuesday's cut is the sixth time in as many months that the U.S. central bank has lowered the federal funds rate, which is now at its lowest level since December, 2004. The rate was 5.25 per cent in August, when the troubles with U.S. subprime loans first escalated and began spreading to capital markets and the wider economy.

Although Tuesday's 75-basis point reduction is large by historical standards, it is bound to disappoint some investors. The Fed also eased rates by 75 basis points at an inter-meeting move two months ago.

Fed-funds futures had priced in a full percentage-point cut after this weekend's stunning near-collapse of investment bank Bear Stearns Cos. Inc. sent shockwaves through markets.
Stock markets in both Canada and the U.S. pared gains immediately after the Fed announcement, although both recovered in the final hour of Tuesday's trading session.

Global credit jitters escalated this past weekend when JPMorgan Chase & Co. agreed to step in to buy Bear Stearns for just $2 (U.S.) a share after the Fed said it would backstop the deal. The central bank announced that it would provide funds to any other troubled investment dealers for the first time since the Great Depression, moving away from its traditional policy of only lending to large commercial banks.

Over the weekend, the Fed also made an emergency quarter-point cut to its discount rate to 3.25 per cent.

Mr. Bernanke has been pulling out all of the stops, taking new and extreme steps in his efforts to ease the credit crunch, set financial institutions on a more stable footing and calm financial and stock markets. Fears that the Bear Stearns situation could trigger similar meltdowns at other financial companies sent Canada's equity market into a tailspin on Monday.
Bank of Canada Governor Mark Carney has said that while he is monitoring the situation, Canada's monetary policy will be driven by domestic conditions, not by panic in global financial markets or external credit problems.

The central bank lowered Canada's rates by a half-point to 3.5 per cent on March 4, citing a weaker-than-expected U.S. economy. According to a spokesman, the last time in modern history that the Bank of Canada slashed rates by 75 basis points was on Oct. 23, 2001.

Warmly,

Mary Wozny

Tuesday, March 11, 2008

Central Banks Move to Ease Credit Crunch

According to reports in Toronto's Globe and Mail today, the Bank of Canada joined forces with U.S. and European central banks Tuesday, injecting markets with billions of additional liquidity relief in a continued and co-ordinated bid to ease a global credit shortage.

Just before equity markets opened in North America, Canada's central bank said it will inject $4-billion worth of liquidity into the markets in two parts through its Special Purchase and Resale Agreements. The first injection, worth $2-billion, will be made on March 20 with the securities set to be sold back on April 17, while the second is scheduled for April 3, to be paid back on May 1st.

The central bank said the 28-day purchases, which mirror moves it made in December, are “part of its continuing provision of liquidity in support of the efficient functioning of financial markets.”

Canada's central bank co-ordinated Tuesday's action with the U.S. Federal Reserve, the European Central Bank, the Bank of England and the Swiss central bank. The synchronized global bank action is an effort to provide help in a global credit crises that threatens to push the U.S. economy into its first recession since 2001 if it hasn't already.

The Federal Reserve said Tuesday it will make up to $200-billion (U.S.) in cash available to cash-strapped financial institutions, also for 28 days as opposed to overnight.
“Pressures in some of these markets have recently increased again,” the Fed said in a statement. “We all continue to work together and will take appropriate steps to address those liquidity pressures.”

Sunday, March 9, 2008

Divorce and Your Credit

With the record high divorce rates in Canada and the United States, one should ask themselves how will a divorce impact my credit report?

A divorce decree alone will have no impact on jointly held accounts that are a part of your credit report. For joint accounts, including credit cards, car loans, home mortgages and lines of credit, you and your ex-spouse continue to have joint liability. You are both responsible, and if one of you defaults, creditors will seek payment from the other.

Just because your divorce may be finalized and you think that "finally it's all over!" the reality is that if you were a co-signer on anything with your previous spouse then you are still liable for these debts. Failure on the part of either party to make payments on time and/or pay off these debts will result in your own personal credit being potentially ruined! Often this happens and you are not even aware of it!

Check your own personal credit and FICO/Beacon Score to avoid these surprises before it's too late.

In Canada, you may check your credit online using the link to Trans Union at www.MaryWozny.com.

Thursday, March 6, 2008

Bank of Canada Lowers Rates

In a widely anticipated move, the Bank of Canada reduced its' Prime lending rate by 50 Bps in response to the recent signs of weakening economic conditions and following extremely weak economic figures for the fourth quarter of 2007.

With overwhelming evidence of deteriorating economic conditions in the United States, Canada cannot escape the fallout from the U.S. economic slump which has been a large contributor to the strenthening in the Canadian dollar and has led to weaker demand for Canadian exports. The Bank of Canada noted that "the deterioration in the economic and financial conditions in the United States can be expected to have significant spillover effects on the global economy".

Fortunately for Canadians, inflation in Canada is under control, thus providing the monetary authority the flexibility to lower rates now, with an anticpation of more rate cuts to come. This should help the Canadian economy weather the headwinds and fallout coming from the United States.

To take advantage of the lower rates and an alternate strategy to save you money on your mortgage costs today, contact Mary Wozny at 705-446-9791, email mwozny@mortgagealliance.com, or apply online today at www.MaryWozny.com.

Warmly,
Mary Wozny

Saturday, March 1, 2008

Todays Women Homebuyers

Savvy single women appear to be buying homes more frequently and at a younger age than ever before, and that has turned the industry's attention to this potentially lucrative consumer group in the softening residential real estate market.

Women are more likely to attend university and more willing to leave the parental nest than their male counterparts. According to new data, 37 percent of single women who have never been married now own their own home.

A desire for financial security, their gowing clout in the workplace and a desire to strike out on their own is helping drive this trend, which is showing significant year-over-year growth. Some researches believe that this is a revolution that will likely change the face of Canadian housing, with the average age of the first time women buyer at 29.

Women buying homes are also showing a marked interest in buying the "fixer-upper" home and becoming proficient in dealing with renovation centres.

To deal with a professional empathetic to the specific needs of women today and to access our Right Mortgage for Women, visit www.MaryWozny.com today.

Friday, February 8, 2008

Canadian Housing Starts Surge

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

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

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

Saturday, January 26, 2008

Cardiorespiratory fitness reduces the risk of death in men with Metabolic Syndrome

Metabolic syndrome is a cluster of disorders that include abdominal obesity, high blood pressure, elevated blood sugar, and unhealthy cholesterol levels. Up to one in four U.S. adults has metabolic syndrome, significantly increasing their risk for diabetes and cardiovascular disease.

Fitness, regardless of body weight, can provide a strong protective effect against premature death in men with metabolic syndrome as well as healthy men. Cardiorespiratory fitness reduces the risk of death in men with Metabolic Syndrome.

In a study published in the Archives of Internal Medicine, over 19,000 men were recruited to determine the relationship between cardiorespiratory fitness (CRF) and mortality risk in healthy men and those with metabolic syndrome. The study group, which included about 3,800 men with metabolic syndrome, were evaluated for fitness and then followed for up to 17 years. Healthy men who were out of shape at the beginning of the study were three times as likely as their fit peers to die of cardiovascular disease. While men with metabolic syndrome were 89 percent more likely than healthy men to die of heart disease over the years, men with metabolic syndrome who were unfit had twice the death rate as their fit counterparts.

According to the researchers, "This study strengthens the argument for aggressive public health campaigns aimed at increasing physical activity levels in the population." Fitness, regardless of body weight, can provide a strong protective effect against premature death in men with metabolic syndrome as well as healthy men. Arch Intern Med 2004 May 24;164(10):1092-7

View the #1 Rated Nutritional Supplement in North America, recipient of the "NutriSearch GOLD Medal of Achievement" award at www.vibranthealthandprosperity.usana.com today!

To your vibrant health,

Mary Wozny

Thursday, January 24, 2008

Cancer Update

Cancer Update from Johns Hopkins Dec 31 2007

1. Every person has cancer cells in the body. These cancer cells do not show up in the standard tests until they have multiplied to a few billion. When doctors tell cancer patients that there are no more cancer cells in their bodies after treatment, it just means the tests are unable to detect the cancer cells because they have not reached the detectable size.

2. Cancer cells occur between 6 to more than 10 times in a person's lifetime.

3. When the person's immune system is strong the cancer cells will be destroyed and prevented from multiplying and forming tumours.

4. When a person has cancer it indicates the person has multiple nutritional deficiencies. These could be due to genetic, environmental, food and lifestyle factors.

5. To overcome the multiple nutritional deficiencies, changing diet and including supplements will strengthen the immune system.

6. Chemotherapy involves poisoning the rapidly-growing cancer cells and also destroys rapidly-growing healthy cells in the bone marrow, gastro-intestinal tract etc, and can cause organ damage, like liver, kidneys, heart, lungs etc.

7. Radiation while destroying cancer cells also burns, scars and damages healthy cells, tissues and organs.

8. Initial treatment with chemotherapy and radiation will often reduce tumor size. However prolonged use of chemotherapy and radiation do not result in more tumor destruction.

9. When the body has too much toxic burden from chemotherapy and radiation the immune system is either compromised or destroyed, hence the person can succumb to various kinds of infections and Complications.

10. Chemotherapy and radiation can cause cancer cells to mutate and become resistant and difficult to destroy. Surgery can also cause cancer cells to spread to other sites.

11. An effective way to battle cancer is to starve the cancer cells by not feeding it with the foods it needs to multiply.

CANCER CELLS FEED ON:

a. Sugar is a cancer-feeder. By cutting off sugar it cuts off one important food supply to the cancer cells. Sugar substitutes like NutraSweet, Equal,Spoonful, etc are made with Aspartame and it is harmful. A better natural substitute would be Manuka honey or molasses, but only in very small amounts. Table salt has a chemical added to make it white in colour. Better alternative is Bragg's aminos or sea salt.

b. Milk causes the body to produce mucus, especially in the gastro-intestinal tract. Cancer feeds on mucus. By cutting off milk and substituting with unsweetened soy milk cancer cells are being starved.

c. Cancer cells thrive in an acid environment. A meat-based diet is acidic and it is best to eat fish, and a little chicken rather than beef or pork. Meat also contains livestock antibiotics, growth hormones and parasites, which are all harmful, especially to people with cancer.

d. A diet made of 80% fresh vegetables and juice, whole grains, seeds, nuts and a little fruits help put the body into an alkaline environment. About 20% can be from cooked food including beans. Fresh vegetable juices provide live enzymes that are easily absorbed and reach down to cellular levels within 15 minutes to nourish and enhance growth of healthy cells. To obtain live enzymes for building healthy cells try and drink fresh vegetable juice (most vegetables including bean sprouts) and eat some raw vegetables 2 or 3 times a day. Enzymes are destroyed at temperatures of 104 degrees F (40 degrees C).

e. Avoid coffee, tea, and chocolate, which have high caffeine. Green tea is a better alternative and has cancer fighting properties. Water - best to drink purified water, or filtered, to avoid known toxins and heavy metals in tap water. Distilled water is acidic, avoid it.

12. Meat protein is difficult to digest and requires a lot of digestive enzymes. Undigested meat remaining in the intestines become putrified and leads to more toxic buildup.

13. Cancer cell walls have a tough protein covering. By refraining from or eating less meat it frees more enzymes to attack the protein walls of cancer cells and allows the body's killer cells to destroy the cancer cells.

14. Some supplements build up the immune system (IP6, Flor-ssence, Essiac, anti-oxidants, vitamins, minerals, EFAs etc.) to enable the body's own killer cells to destroy cancer cells. Other supplements like vitamin E are known to cause apoptosis, or programmed cell death, the body's normal method of disposing of damaged, unwanted, or unneeded cells.

15. Cancer is a disease of the mind, body, and spirit. A proactive and positive spirit will help the cancer warrior be a survivor. Anger, unforgiveness and bitterness put the body into a stressful and acidic environment. Learn to have a loving and forgiving spirit. Learn to relax and enjoy life.

16. Cancer cells cannot thrive in an oxygenated environment. Exercising daily, and deep breathing help to get more oxygen down to the cellular level. Oxygen therapy is another means employed to destroy cancer cells.

1. No plastic containers in micro.

2. No water bottles in freezer.

3. No plastic wrap in microwave.

Dioxin chemicals causes cancer, especially breast cancer. Dioxins are highly poisonous to the cells of our bodies. Don't freeze your plastic bottles with water in them as this releases dioxins from the plastic.

Recently, Dr. Edward Fujimoto, Wellness Program Manager at Castle Hospital, was on a TV program to explain this health hazard. He talked about dioxins and how bad they are for us. He said that we should not be heating our food in the microwave using plastic containers. This especially applies to foods that contain fat. He said that the combination of fat, high heat, and plastics releases dioxin into the food and ultimately into the cells of the body. Instead, he recommends using glass, such as Corning Ware, Pyrex or ceramic containers for heating food. You get the same results, only without the dioxin.

So such things as TV dinners, instant ramen and soups, etc., should be removed from the container and heated in something else. Paper isn't bad but you don't know what is in the paper. It's just safer to use tempered glass, Corning Ware, etc. He reminded us that a while ago some of the fast food restaurants moved away from the foam containers to paper. The dioxin problem is one of the reasons. Also, he pointed out that plastic wrap, such as Saran, is just as dangerous when placed over foods to be cooked in the microwave. As the food is nuked, the high heat causes poisonous toxins to actually melt out of the plastic wrap and drip into the food. Cover food with a paper towel instead.

View the #1 Rated Nutritional Supplement in North America, recipient of the "NutriSearch GOLD Medal of Achievement" award at www.vibranthealthandprosperity.usana.com today!

To your vibrant health,

Mary Wozny