Good Morning,

No surprises here, prime remains the same. The full press release can be viewed here: http://www.bankofcanada.ca/publications-research/press-releases/

One of the most popular options being considered currently is a 10 year fixed term at 3.89%.  If your mortgage is coming up for renewal in the next year or you are a first time homebuyer who hopes to keep your residence as a rental when you move up the property ladder here are 3 reasons why the 10 year is so attractive right now: http://www.angelacalla.ca/blog_post?id=6955&title=3-reasons-to-consider-a-10-year-fixed-term-today .This option will not last long so getting your information into us as soon as possible will protect you from rate hikes so you can optimize todays low interest rate enviroment. We always review all the options that may be best suited for you.

If you or anyone that you care about that has a mortgage over 4% and would like to save money on on their mortgage, we are here to help personally and work towards making 2012 your best money saving year

Contact us at: 604-802-3983 or acalla@dominionlending.ca

Always here to help, have a great week.

Angela Calla, AMP
Mortgage Expert
Host of “The Mortgage Show” on CKNW AM980 Saturdays at 7pm

Two aspects of my life that I really value include my health and wealth. As such, I fully appreciate professionals who take the time to give me advise based on verification – calculation as opposed to mere speculation.

For instance, if I’m not feeling well, I will describe my medical symptoms to my doctor and she will do the necessary diagnosis prior to recommending a treatment. She may have an idea of what’s wrong with me, but I could only respect and count on her advice after the results of the tests are back (such as blood tests, x-rays, etc). When those results are in, if there’s something my doctor wants to discuss further, I wouldn’t expect her to send me a quick email, write me a prescription, and then never follow up. So, this is an example based on calculation.

If you called your doctor and explained symptoms, and she just jumped to a conclusion and offered a treatment right away would you have confidence in her as a medical professional given that she based her recommendations purely on speculation? I know I wouldn’t!

In this age of the Internet and a quest for simplicity, when it comes to a mortgage it’s been noted that 8 out of 10 callers ask “What are your rates?” before they have provided the necessary information. You can’t base a mortgage professional’s qualifications based solely on a quoted rate! What’s more important than rate alone is finding out if the mortgage professional is going to devise a plan for you that will reduce the amount of interest you’re paying throughout the life of your mortgage – the best plan catered to your unique needs that will enable you to save the most amount of money.

Asking about rates as opposed to focusing on the bigger picture is like asking a mortgage broker to give you results before they’ve performed any “tests”. Would you ask that of your doctor? Would you want to know results based purely on speculation? And, even when the results are in, are we all educated to the same degree to understand our “test results”?

The 20% who think differently are always the ones who soar above the rest.

It’s always the different way of asking the question or a small shift that offers a big change and results in helping borrowers get ahead!

 Thanks for visiting

Angela Calla, AMP

Dominion Lending Centres-Angela Calla

Host of ” The Mortgage Show” Saturdays @ 7pm on CKNW AM980

E-mail: callateam@dominionlending.ca

Since there are many myths surrounding mortgage financing, I thought I’d help demystify the top 12 I come across most often!

1. Purchasing a home with a 5% down payment is only for first-time homebuyers.

2. Bi-weekly and semi-monthly mortgage payments are the same thing.

3. There is a fee for a mortgage broker (our service is free)

4. Shopping around on your own results in the best mortgage rate.

5. Every time I purchase a home I’ll have to pay the full mortgage insurance amount I paid on my first purchase.

6. Opting for a longer amortization is always a poor decision.

7. Mortgage terms and conditions are not as important as getting the best rate.

8. Paying property taxes with my mortgage means I don’t have anything else to do.

9. My bank has my best interest in mind.

10. I can buy a home before I sell mine and get “bridge financing” easily.

11. My parents will help me qualify for a bigger house.

12. I can roll all of my debt into my first home purchase.

 If you have any questions regarding these myths or would like some help to ensure the best possible mortgage for your goals and savings the Angela Calla Mortgage Team is here to help you directly.

Thanks for visiting

Angela Calla, AMP

Dominion Lending Centres-Angela Calla

Host of ” The Mortgage Show” Saturdays @ 7pm on CKNW AM980

Phone: 604-802-3983 Email: callateam@dominionlending.ca

With mortgage rates at all-time lows, it seems longer terms are making a comeback. It turns out that fashion isn’t the only thing that comes back into style!

In fact, 10-year fixed mortgage rates have never looked so sexy. If you owned a home in the 80s or 90s, you may notice the 10-year term comeback!

 Following are three reasons to consider a 10-year mortgage term:

 1. After 5 years, you only have to pay three months’ interest to get out of the mortgage. This is currently the lowest penalty available to for a fixed rate – much more attractive than facing a much higher interest rate differential (IRD) penalty!

 2. You don’t need the equity out of your home for your next purchase as you can buy again with a 5% down payment. For instance, if you purchase with 5% down, your property would have to go up over 25% for you to get equity to use as a down payment for a second home, which is not likely in five years.

But, you can turn your current condo into a rental and buy your next home with 5% down (with a combination of savings or a gift). Rental mortgages usually require a 20% down payment, whereas primary residences typically require just 5% down. Purchasing a condo to live in until you’re ready to buy another home, and then renting out the condo, is a great way to become a real estate investor without having to come up with a 20% down payment.

 3. If you’re on a fixed income, taking advantage of a longer term fixed-rate mortgage can definitely be beneficial. Currently, with our historically low interest rates, a five-year fixed rate is around 3.19% and 10-year is around 3.89%. So, if after 5 years rates have risen to 4.6% or higher (which is very likely), you would have been ahead taking the current 10-year at 3.89%.

Instead of guessing how much longer rates will remain at historic lows, if you’re on a fixed income, you know you’ll be paying the same rate for 10 years. And, chances are, after 10 years are up, you will be in better shape financially and have more equity in your home.

The return of the solid 10-year means you have options. It may not be the best option for everyone and the market may change in a few months to make it less attractive. I will show you how all the products apply to you to ensure you receive the best product for your goals!

Thanks for visiting

Angela Calla, AMP

Dominion Lending Centres-Angela Calla

Host of ” The Mortgage Show” Saturdays @ 7pm on CKNW AM980

Phone: 604-802-3983 Email: callateam@dominionlending.ca

When it comes to your mortgage, timing is everything. The cost of procrastination or not knowing when to make a move has proven to be very expensive over the last few years – even in this historically low interest rate environment.

Lenders are looking at cutting costs. They have shown us this by not committing rate holds for the best rates, making them available only for “live deals”, and giving themselves the ability to discontinue these specials at any time.

Some may only recall the more recent cases where we have seen lenders increase their fixed rates from 2.99% to 3.49% virtually overnight! A 0.5% increase translates to a cost of $26 dollars per month per $100,000 of outstanding mortgage loan. With the average mortgage sitting around $350,000 in the lower mainland, it adds up quickly to an extra $96 dollars a month in interest only. We have seen this before in the mortgage industry when it came to variable rate discounts. It’s likely we can this again in future.

Following are three ways you can protect yourself:

1. If you’re considering buying a home, get a rate hold from your mortgage professional who can shop your mortgage to multiple lenders with one application while protecting your credit score to ensure the best option.

2. A mortgage review will examine your options and help secure a rate hold if you’re up for renewal in the next year.

3. Verify you have given all required information and documentation to secure a rate hold. Withholding important information (either documents required for review or details of your income or current mortgage) will hold up the process.

You can complete an application over the phone or online one can be viewed at www.angelacalla.ca so you can prepare for the type of information you’ll need to gather for the process that if you’re prepared with your basic information can take 10 minutes.

With average savings of $96 a month (with the ability to change daily – even within hours in some cases), this is a prime example of how waiting for a trigger (such as an increase in rates ) instead of being proactive may affect your ability to save the most amount of money!

I can guide you through the process for a purchase or refinance/renewal to ensure you’re protected and that the best strategy has been implemented and rates secured on your behalf to save you the most amount of money in this ever-changing mortgage market.

Thank you for visiting

Angela Calla, AMP

Dominion Lending Centres-Angela Calla

Host of “The Mortgage Show” Saturdays @ 7pm on CKNW AM980

Phone: 604-802-3983 Email:callateam@dominionlending.ca

Highlights are listed here http://www.cbc.ca/news/canada/windsor/story/2012/03/29/federalbudget-flaherty-hilights.html

3 points of interest as it relates to our mortgage market from todays budget:

1. CMHC Limits & regulation

2. Framework of oppertunities to private companies to assist the mortgage market

3. Limiting the insurance products the bank can sell.

Here is the full link from the Financial Post

http://business.financialpost.com/2012/03/29/ottawa-to-toughen-cmhc-oversight/

Working with The Angela Calla Mortgage Team we work without bias to get the best suited mortgage for you and are always here to help with your mortgage questions email us directly at callateam@dominionlending.ca

Thanks for Visiting

As heard on this weeks Mortgage Show on CKNW with Angela Calla Saturday March 31st 2012. To get pre approved for this property or any other purchase email the Angela Calla Mortgage Team at callateam@dominionlending.ca or call 604-802-3983

This weeks deal of the week has been brought to you by:

http://rboies.mlslink.mlxchange.com/?r=177160122&id=363434333136.312

Robert Boies
Royal LePage Coronation West
cell: 604 341 3009 t: willingtwo
E-mail: robboies@royallepage.ca
www.willingsellerwillingbuyer.com

Please note that properties like this move quickly and getting set up with Rob Boies directly robboies@royallepage.ca will keep you abreast of all of these types of oppertunities meeting your speciafications

Thanks for visiting

Angela Calla, AMP

Lots of homebuyers are looking at creative ways to save for a downpayment, as I noted in a recent interview for 24Hours Newspaper

Read how here http://vancouver.24hrs.ca/News/local/2012/03/22/19538016.html

Angela Calla Mortgage Team can help you with the best plan to help you see how you can own your own home contact us to help you directly at 604-802-3983 or callateam@dominionlending.ca

There are lots of places just outlining Vancouver where homeownership IS affordable as I shared with a reporter from 24Hours Newspaper, read where here: http://vancouver.24hrs.ca/News/local/2012/03/22/19537386.html

Friday March 23rd 2012

The Angela Calla Mortgage Team is standing by to help you own your own home, contact us for a pre approval at 604-802-3983 or callateam@dominionlending.ca

As heard on this weeks Mortgage Show on CKNW with Angela Calla Saturday March 24th 2012. To get pre approved for this property or any other purchase email us at callateam@dominionlending.ca or call 604-802-3983

This weeks deal of the week has been brought to you by:

http://rboies.mlslink.mlxchange.com/?r=755667701&id=363434333136.312

Robert Boies
Royal LePage Coronation West
cell: 604 341 3009 t: willingtwo
E-mail: robboies@royallepage.ca
www.willingsellerwillingbuyer.com

Please note that properties like this move quickly and getting set up with Rob Boies directly robboies@royallepage.ca will keep you abreast of all of these types of oppertunities meeting your speciafications

Thanks for visiting

Angela Calla, AMP