Mortgage Intelligence

Oshawa's Mortgage News Desk!


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Black Friday.

Ten things you didn’t know!

Black Friday has an interesting history.

It began in the US in reference to the Stock Market crash.

Black Friday

Here is how it morphed into the Black Friday that we know today!


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We’re Doing It Again!

Today’s Best 5 yr Rates

3.30%

Apply now!

 

See all our great rates: https://mimortgage.wordpress.com/rates/


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Durham Region Real Estate News.

Strong Sales, Stronger Price Gains!

If there’s been slow down in the real estate market in October then Durham Region Realtors haven’t been told about it!

In comparison to last year’s sales for the month DRAR reported 924 transaction compared to 849 in 2012. That’s an increase of 9%

The overall sales for the year have been a bit slower with a 3% reduction in sales. To date last year there were 9,432 sales and this year there were 9,152. Not a very significant change.

While the number of sales for the year are down slightly, the dollar volumes is up 17% indicating that prices are still increasing in Durham.

 www.DurhamRealEstate.org. for all the monthly stats from the Region.


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Enjoy Our Rate Special

Everyone loves a Rate Special!

We’re offering 3.45% for a 5 yr fixed

rate mortgage with a 120 day rate hold

What are you waiting for? Apply now.

It's So Easy!

See all our great rates: https://mimortgage.wordpress.com/rates/


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Welcome to MiMortgage


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Pickering, A Great Place To Live

 

Pickering began as a village and grew to be the gateway to Durham Region!

There is great ethnic diversity within the Pickering today. It is a center for living, working and play within the Durham Region.

pickering ontarioPickering  Ontario has experienced rapid growth in the post-war period. Between 1996 and 2009, the municipality experienced a growth rate of 12 percent (78,989 people to 100,273). Population growth has slowed considerably in recent years, growing only slightly between the 2001 and 2006 census. By 2023, Pickering will be home to nearly 170,000 residents. The province of Ontario has also designated Pickering as one of two municipalities in Durham Region as an urban growth center.  With the Go Transit system, the 401 and 407 Highways, Pickering is linked to the GTA.

Pickering is home to the Pickering Nuclear Station an eight-reactor facility with a capacity of 4,120 megawatts. The first station, Pickering A, opened with four reactors in 1971. Ontario Power Generation the plants’ operator, is the largest single employer in the city. In 2001, the wind-powered OPG 7 Commemorative Turbine was opened on the generating station site.

A number of manufacturers are also located in the city. Major employers include Yorkville Sound  (audio equipment), the Canadian headquarters of Purdue Pharma (pharmaceuticals and health & beauty products), Hubbell Canada (electrical equipment), PSB-Speakers-Lenbrook (stereo equipment) and Eco-Tec Inc. (industrial water purification and chemical recovery systems).

Great Shopping, Pickering Town Center, Schools, Places of Worship abound in Pickering and it’s location on the shore of Lake Ontario provide great outdoor entertainment.  A wide variety of restaurants, sports facilities and historic sites round out the activities that Pickering has to offer.

Pickering is a founding member of the Durham Strategic Energy Alliance or DSEA. The nucleus of the DSEA is primarily Pickering businesses such as Ontario Power Generation, Veridian, Wardrop Engineering, AECL, Intellimeter, Areva and Eco-Tec.

Pickering is a great place to live and as a provider of Mortgage Solutions to all of Durham Region we want you to know that we’re “MiMortgage Team” in Pickering.  

Pickering Mortgages

Pickering Mortgage Brokers can offer the best mortgage rates to suit your needs

Whether you need mortgage financing to buy a home, refinance, or to purchase a commercial or investment property, you want the best mortgage rates and our team of Pickering mortgage agents have access to hundreds of mortgage options to match your specific needs. Our Mortgage Intelligence website explains the mortgage application process in simple terms and offers other great features to educate borrowers about the different mortgage types and rates that are available.

Pickering Mortgage Services Covers All The Bases

We want to share our financial knowledge with you and help make the mortgage process as easy as possible. Our Pickering Mortgage Service covers all the bases from first and second mortgage financing at fixed rates, to commercial and investment lending and reverse mortgages for seniors. Our online Mortgage Intelligence application form saves time by letting you apply for mortgage financing from the comfort of your own home and our full-time licensed mortgage agents are trained to guide borrowers through the application process, from start to finish. Let’s get started today!

Weekly E-Rates Keep You Up To Date On All Pickering Mortgage Rates

Mortgage Intelligence professionals are dedicated to finding the best Pickering mortgage rates for our clients throughout Durham Region. With access to over fifty lenders across the country, we can offer the right mortgage products at the best fixed or variable rates and terms to suit your personal mortgage needs. Many of our clients want to be proactive when it comes to rate shopping and signing up for our weekly e-rates will keep you up-to-date on all the current rates.

Contact us Today. We are your Mortgage Brokers in Pickering!

 


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Best Rate vs. Lowest Rate

The Difference May Cost You A Lot!

The best rate for any given borrower may not at first glance be the lowest rates. A prime example of that is BMO’s rate special of 2.99% last year. The web was filled with promos for the special but no one was pointing out all the restrictions that the mortgage held.

Mortgage professional offer options form many lenders and a good mortgage agent will have sound knowledge to back up their advice. Some will criticize the old axiom, the lowest rate is not always the best rate” but it is often true.

mortgage-ratesThere are many Rate sites on the web but remember that they really don’t offer any advice. They show only those rates that a company want to use to get you to contact them.

When shopping for a mortgage you’ll want to know what the rate is, what the prepayment privileges allow, and is there a sale clause in the mortgage. What that means is, do you have to sell the house in order to make changes the mortgage?

 It’s so important because technically it removes you ability to refinance you mortgage during the term. Something that lenders never talk about when offering the rock bottom rate.

The best advice you can get is telling your mortgage professional what you hope to do achieve during the term of your mortgage. Sure you want the best rate but do you want to prepay the mortgage, or is it your goal to increase the payments each year? By how much? How will the penalty be charged should you sell or refinance. There’s a huge difference between a 3 month interest penalty and Interest rate Differential, but you my also want to ask, “is the penalty calculated on the posted or the discounted rate”? Once again the end cost could far outweigh any savings on rate.

Be a wise consumer. Shop where there is maximum choice and look to a mortgage expert for advice on your personal situation. Mortgages unlike clothing are not One Size Fits All!

See all our great rates: https://mimortgage.wordpress.com/rates/


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Santa Clause is Coming to Town!

Toronto Santa Claus Parade

Sunday, November 17th 2013

Santa Arrives at 12:30

santa-claus-parade-header-bg


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Avoid a Holiday Spending Hangover This Year.

Overspending Will Cause More Pain Than Joy!

Holiday spending hangoverRetailers are already making the pitch for your Holiday shopping dollars with glittery store windows and even some sales, but beware, last year the average consumer spent $1600.00 on gifts travel and entertainment.

The problem is most use credit cards to fulfill the dreams of their kids and family members. Then come the payments.  Not too many Canadians pay off their card balances monthly, so if you still have outstanding bills form last year, think twice about compounding it again this December.

Use Santa’s Method

Make a list and check it twice. Who are you buying for, how much are you spending. Can you make something that would cover the small gifts on your list?  Homemade cookies for teachers, the babysitter and the paperboy are always welcome and cost little. Your kids would love the gift of your time, such as a family movie night once a month complete with home made popcorn and pizza! Give a few family-friendly videos, and a hot air popcorn maker as a gift to your kids.

Start Shopping Now and Save

What if you bough a gift or two each week and paid cash. Watch for items to go on sale and then buy then. Over the past few years retailers brought our some of their best items at reduced prices to compete for your dollars.

Shopping On-line Can Save Time and Money.

Shopping on–line offers you the chance to compare several retailers for an item, have it shipped to your home, often for free and that saves on gas that you would spend driving from store to store.

Try to remember that the Holidays are about Peace, Joy and Love.

Its a time to reconnect with family and loved ones.  Its not meant to be a time to impress people with how much you spend.