May News and Rate Advisor

Courtesy of  Phil Romano, CPMB 905-516-1150 Certified Professional Mortgage Broker #M10002221 Verico House of Mortgage Experts philromano@vhme.ca www.philrom.com

Welcome to the May issue of the News & Rate Advisor. Current Discount Mortgage Rates May 2015 Variable Rate 2.30% 1 Year 2.79% 2 Year 2.39% 3 Year 2.54% 4 Year 2.64% 5 Year 2.79% 7 Year 3.79% 10 Year 3.84% Prime Rate 2.85% * Rates subject to change and OAC. Canadian Qualifying Rate May 2015 Rate 4.64% Source: Bank of Canada Current Posted Mortgage Rates May 2015 May 2014 May 2013 1 Year 2.89% 3.14% 3.00% 3 Year 3.39% 3.75% 3.55% 5 Year 4.64% 4.79% 5.14% Source: Bank of Canada Nationwide Building Permits Mar 2015 Mar 2014 Mar 2013 Residential $4,418,463,000 $3,672,691,000 $3,597,733,000 Commercial $2,448,640,000 $2,300,869,000 $2,700,725,000 Total $6,867,103,000 $5,973,560,000 $6,298,458,000 Source: Stats Canada - preliminary figures Current Bank of Canada Rate & Prime Rates May 2015 May 2014 May 2013 Bank Rate 1.00% 1.25% 1.25% Prime Rate 2.85% 3.00% 3.00% Source: Bank of Canada Average House Prices by City Mar 2015 Mar 2014 Mar 2013 Yellowknife $377,244 $328,945 $417,875 Vancouver $891,652 $801,543 $759,340 Victoria $508,807 $493,323 $474,937 Edmonton $373,005 $361,870 $350,723 Calgary $457,422 $462,994 $441,424 Saskatoon $337,982 $344,600 $331,249 Regina $300,148 $328,781 $314,353 Toronto $613,933 $557,684 $519,879 Hamilton-Burlington $443,706 $410,553 $388,147 Ottawa-Carleton $362,918 $359,286 $359,321 Quebec City $262,214 $252,400 $266,897 Montreal $331,216 $320,558 $326,259 Fredericton $175,632 $175,007 $182,540 Saint John $301,769 $169,978 $164,182 Halifax-Dartmouth $277,377 $268,333 $282,048 Winnipeg $281,269 $278,527 $271,198 Source: CREA - Most Recent Month Reported Average House Prices by Province Mar 2015 Mar 2014 Mar 2013 National $439,144 $401,419 $378,532 Yukon $307,800 $328,954 $331,520 Northwest Territories $377,244 $328,945 $417,875 British Columbia $641,799 $562,316 $540,662 Alberta $398,856 $402,933 $386,330 Saskatchewan $292,847 $304,428 $291,094 Manitoba $272,344 $269,865 $257,657 Ontario $466,404 $435,046 $405,780 Quebec $270,245 $264,197 $272,531 New Brunswick $150,807 $156,795 $163,566 Prince Edward Island $165,693 $174,311 $151,243 Nova Scotia $226,613 $213,336 $222,688 Newfoundland $273,645 $288,865 $281,210 Source: CREA - Most Recent Month Reported

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April News and Rate Advisor

Courtesy of  Phil Romano, CPMB 905-516-1150 Certified Professional Mortgage Broker #M10002221 Verico House of Mortgage Experts philromano@vhme.ca www.philrom.com

Welcome to the April issue of the News & Rate Advisor. Current Discount Mortgage Rates Apr 2015 Variable Rate 2.30% 1 Year 2.79% 2 Year 2.39% 3 Year 2.54% 4 Year 2.64% 5 Year 2.79% 7 Year 3.79% 10 Year 3.84% Prime Rate 2.85% * Rates subject to change and OAC. Canadian Qualifying Rate Apr 2015 Rate 4.64% Source: Bank of Canada Current Posted Mortgage Rates Apr 2015 Apr 2014 Apr 2013 1 Year 2.89% 3.14% 3.00% 3 Year 3.39% 3.75% 3.55% 5 Year 4.64% 4.79% 5.14% Source: Bank of Canada Nationwide Building Permits Feb 2015 Feb 2014 Feb 2013 Residential $4,116,277,000 $3,674,001,000 $3,548,005,000 Commercial $1,998,335,000 $2,498,291,000 $2,391,893,000 Total $6,114,612,000 $6,172,292,000 $5,939,898,000 Source: Stats Canada - preliminary figures Current Bank of Canada Rate & Prime Rates Apr 2015 Apr 2014 Apr 2013 Bank Rate 1.00% 1.25% 1.25% Prime Rate 2.85% 3.00% 3.00% Source: Bank of Canada Average House Prices by City Feb 2015 Feb 2014 Feb 2013 Yellowknife $296,200 $447,080 $301,980 Vancouver $879,069 $846,978 $760,976 Victoria $490,377 $483,720 $463,265 Edmonton $362,432 $359,973 $334,347 Calgary $443,744 $460,338 $438,755 Saskatoon $354,400 $335,562 $313,781 Regina $303,355 $300,667 $310,551 Toronto $596,163 $553,193 $510,580 Hamilton-Burlington $437,386 $398,239 $375,381 Ottawa-Carleton $359,759 $354,619 $348,386 Quebec City $255,698 $263,239 $267,826 Montreal $328,862 $320,993 $325,261 Fredericton $180,394 $181,612 $166,687 Saint John $171,269 $162,556 $171,191 Halifax-Dartmouth $280,035 $282,285 $259,606 Winnipeg $266,837 $264,636 $270,463 Source: CREA - Most Recent Month Reported Average House Prices by Province Feb 2015 Feb 2014 Feb 2013 National $431,812 $406,372 $368,895 Yukon $300,846 $331,352 $327,725 Northwest Territories $296,200 $447,080 $301,980 British Columbia $639,405 $611,688 $529,922 Alberta $385,804 $407,540 $378,685 Saskatchewan $298,574 $293,192 $280,915 Manitoba $262,441 $257,016 $259,397 Ontario $453,646 $423,691 $392,962 Quebec $267,054 $263,661 $271,912 New Brunswick $169,840 $159,201 $156,119 Prince Edward Island $164,774 $164,176 $157,361 Nova Scotia $217,881 $218,261 $211,772 Newfoundland $282,350 $308,851 $295,588 Source: CREA - Most Recent Month Reported

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Debt reduction essential for Boomers

(NC) Financially speaking, you're feeling pretty good about yourself. The taxes are filed and the refund should be deposited into your account in a couple of days. Like every year, you're going to reinvest it: some into the RRSP, some in the TFSA and the balance into an RESP account. As a bonus, your debt is manageable and you're fast-tracking your mortgage payments. Give yourself a round of applause because you are a financial champion! Sure you are — in a perfect world. But the truth is that like most Canadians, you're probably carrying a lot of credit card and mortgage debt. And like the last few tax seasons, you owe the taxman a small king's ransom. Feeling less smug now aren't you? The fact is that as Boomers get closer to retirement age, many are still loaded down by debt. This is an issue because their income will be greatly reduced during retirement and paying down the debt will be increasingly more difficult. Of course, the goal is to pay it off first. The experts from Desjardins Group suggest that while you're still working it's important to look at your financial situation seriously and start making the necessary adjustments now. Never too late to set up good financial habits According to Statistics Canada's "Retiring with debt" publication, over half of retirees are still paying off some form of debt. It can be in the form of loans, credit cards and lines of credit. But the good news is that these retirees owe less than Canadian workers aged 55 and up. Their median debt is $19,000, as compared to $40,000 for workers. The idea is to develop good financial habits during your working life to ensure that you have plenty of savings and few liabilities at retirement. Understanding your liabilities and paying them off There are two types of liabilities: one increases your assets like a mortgage and the other reduces your assets like a credit card. Credit in and of itself isn't the problem, so long as it's managed well. To know exactly where you stand make a list of what you owe: • Bank and store credit cards tend to have the highest interest rates, so you should focus on paying these off first • Lines of credit • Car loan • Investment loans • Student loans Once you've paid off the one with the highest interest rate, consider trying paying off your mortgage next. You can reduce the amortization period for your mortgage by increasing your payment amounts, payment frequency (e.g. weekly rather than monthly) or by making a prepayment. As an added protection, consider credit insurance and term life insurance. In case of illness, disability or death, these types of insurance will protect your family by covering off your debts and securing your assets. For more information, visit the Credit and Debt page of the Coop-Me section on the Desjardins Group website at www.desjardins.com. www.philrom.com

February News and Rate Advisor!

Welcome to the February issue of the News & Rate Advisor. Current Discount Mortgage Rates Feb 2015 Variable Rate 2.30% 1 Year 2.79% 2 Year 2.39% 3 Year 2.54% 4 Year 2.64% 5 Year 2.79% 7 Year 3.79% 10 Year 3.84% Prime Rate 2.85% * Rates subject to change and OAC. Canadian Qualifying Rate Feb 2015 Rate 4.79% Source: Bank of Canada Current Posted Mortgage Rates Feb 2015 Feb 2014 Feb 2013 1 Year 3.14% 3.14% 3.00% 3 Year 3.80% 3.75% 3.65% 5 Year 4.79% 5.24% 5.24% Source: Bank of Canada Nationwide Building Permits Dec 2014 Dec 2013 Dec 2012 Residential $4,381,330,000 $3,643,632,000 $3,269,058,000 Commercial $2,725,642,000 $2,793,178,000 $2,477,670,000 Total $7,106,972,000 $6,436,810,000 $5,746,728,000 Source: Stats Canada - preliminary figures Current Bank of Canada Rate & Prime Rates Feb 2015 Feb 2014 Feb 2013 Bank Rate 1.00% 1.25% 1.25% Prime Rate 2.85% 3.00% 3.00% Source: Bank of Canada Average House Prices by City Dec 2014 Dec 2013 Dec 2012 Yellowknife $302,100 $444,817 $466,333 Vancouver $819,384 $785,574 $683,875 Victoria $498,716 $477,792 $485,945 Edmonton $359,479 $347,103 $329,410 Calgary $452,968 $439,389 $419,811 Saskatoon $340,608 $328,407 $324,597 Regina $302,969 $291,755 $317,581 Toronto $556,602 $520,398 $478,739 Hamilton-Burlington $387,922 $371,037 $336,382 Ottawa-Carleton $349,479 $341,793 $336,856 Quebec City $265,819 $261,123 $258,313 Montreal $340,489 $320,693 $330,665 Fredericton $156,604 $153,743 $173,655 Saint John $175,840 $190,728 $145,445 Halifax-Dartmouth $270,945 $269,797 $269,098 Winnipeg $271,489 $298,338 $257,719 Source: CREA - Most Recent Month Reported Average House Prices by Province Dec 2014 Dec 2013 Dec 2012 National $405,233 $390,034 $352,787 Yukon $285,447 $361,867 $240,357 Northwest Territories $302,100 $444,817 $466,333 British Columbia $585,718 $568,419 $498,205 Alberta $390,528 $380,477 $363,340 Saskatchewan $291,524 $278,764 $284,346 Manitoba $263,072 $286,571 $249,852 Ontario $417,767 $395,698 $368,718 Quebec $273,291 $264,690 $274,125 New Brunswick $155,078 $160,867 $150,875 Prince Edward Island $169,877 $149,021 $164,775 Nova Scotia $207,429 $208,555 $204,858 Newfoundland $273,769 $289,279 $288,541 Source: CREA - Most Recent Month Reported

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January News and Rate Advisor!

Welcome to the January (TEST) issue of the News & Rate Advisor. Current Discount Mortgage Rates Jan 2015 Variable Rate 2.45% 1 Year 2.89% 2 Year 2.59% 3 Year 2.69% 4 Year 2.89% 5 Year 2.99% 7 Year 3.79% 10 Year 4.39% Prime Rate 3.00% * Rates subject to change and OAC. Canadian Qualifying Rate Jan 2015 Rate 4.79% Source: Bank of Canada Current Posted Mortgage Rates Jan 2015 Jan 2014 Jan 2013 1 Year 3.14% 3.14% 3.00% 3 Year 3.44% 3.75% 3.65% 5 Year 4.79% 5.24% 5.24% Source: Bank of Canada Nationwide Building Permits Nov 2014 Nov 2013 Nov 2012 Residential $4,356,903,000 $4,081,721,000 $3,763,739,000 Commercial $2,227,710,000 $2,679,245,000 $2,692,478,000 Total $6,584,613,000 $6,760,966,000 $6,456,217,000 Source: Stats Canada - preliminary figures Current Bank of Canada Rate & Prime Rates Jan 2015 Jan 2014 Jan 2013 Bank Rate 1.25% 1.25% 1.25% Prime Rate 3.00% 3.00% 3.00% Source: Bank of Canada Average House Prices by City Nov 2014 Nov 2013 Nov 2012 Yellowknife $205,500 $341,343 $392,904 Vancouver $801,450 $774,932 $682,215 Victoria $466,453 $454,703 $491,326 Edmonton $381,371 $339,703 $331,526 Calgary $462,031 $445,114 $413,921 Saskatoon $346,015 $334,440 $330,125 Regina $298,290 $306,631 $309,219 Toronto $577,936 $538,881 $485,328 Hamilton-Burlington $398,590 $368,947 $369,201 Ottawa-Carleton $358,196 $359,082 $350,211 Quebec City $265,825 $261,123 $260,783 Montreal $345,032 $320,693 $333,324 Fredericton $146,242 $159,892 $175,122 Saint John $191,082 $170,126 $168,623 Halifax-Dartmouth $266,362 $267,717 $266,740 Winnipeg $266,945 $261,832 $263,786 Source: CREA - Most Recent Month Reported Average House Prices by Province Nov 2014 Nov 2013 Nov 2012 National $413,649 $391,085 $356,687 Yukon $242,694 $353,498 $306,590 Northwest Territories $205,500 $341,343 $392,904 British Columbia $574,694 $557,586 $480,891 Alberta $407,071 $385,217 $365,999 Saskatchewan $295,487 $290,859 $277,487 Manitoba $261,180 $255,636 $253,995 Ontario $433,561 $408,251 $376,806 Quebec $279,014 $264,690 $275,656 New Brunswick $160,766 $156,787 $157,488 Prince Edward Island $180,487 $151,363 $146,646 Nova Scotia $206,251 $209,997 $208,681 Newfoundland $273,177 $282,123 $274,485 Source: CREA - Most Recent Month Reported

"Always Striving to be your Trusted Mortgage Advisor!"