Smaller down payments for Canada … what about here?

Financial Post | Business

It doesn’t make much sense, but a skimpy down payment on a home might actually get you a better mortgage rate in today’s market.

Blame the government subsidy known as mortgage default insurance, which ultimately makes it less risky to lend money to someone who has only 5% down compared to someone with 20%.

Consumers with less than 20% down must get mortgage default insurance in Canada if they are borrowing from a federally regulated bank. The cost is up to 2.75% of the mortgage amount upfront on a 25-year amortization but that fee comes with 100% backing from the federal government if the insurance is provided by Crown corporation Canada Mortgage and Housing Corp.

“It’s already happening,” says Rob McLister, editor of Canadian Mortgage Trends, who says secondary lenders are now offering rates that are 10 to 15 basis points higher for a closed five-year mortgage for uninsured…

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3885 Cotter Drive, Edgewater, MD 21037

This beautiful home features 4 Bedrooms; 4 Full Baths; Eat-In Kitchen with Gourmet Island/Breakfast Bar, 42″ Gourmet Kitchen Cabinetry with Custom Ambiance Lighting; Large Family Room; Formal Dining Room; Large Owner’s Suite with Luxurious Bath featuring NuHeat Radiant Heated Marble Floors; Second Floor Level Laundry Room; Two Car Garage with Workshop Area; Elevator; Optional Pier with Electric and Water  Available.

Call #: 410-760-9100 for pricing.

Bedrooms: 4
Bathrooms: 4
Living Space: 3,210 Sq. Ft.
Waterfront Property
Lot Size: 19,200 Sq. Ft.
Public Sewer (Mayo System)/Well


The Maryland Spring Home & Garden Show will be held this year the first two weekends in March at the Maryland State Fairgrounds in Timonium.

With more than 300 exhibits this year, you can view everything from decks and kitchens to baths and spas to windows and many unique products you won’t find anywhere else. Go take a look at all the “Oh” & “Ah” stuff that you’d like to find in your dream house and then have Emerald Homes make it happen!

For more information (hours, exhibitor booth map, schedules), please visit their website  here … they even have a $2 OFF COUPON!

Will we see you there?

 

Our Poem for today

February 23, 2012

Fill This House

Fill this house with abundance.
None like it has ever known.
Fill this house with peace and joy.
And let those within it,
Witness this shown.
Fill this house with a wealth of health,
With a giving of opportunities to dismiss all pain.
Fill this house with the light of light.
And keep the darkness outside to remain.

~ Lawrence S. Pertillar

Optimism for the 2012 economy

February 15, 2012

Awesome news for an awesome day!!

Ask The Expert Online

Consumer Confidence vs Retail Sales (2009-2012)

The U.S. economy continues to show signs of a rebound.

According to the Census Bureau, Retail Sales climbed to $329 billion last month on a seasonally-adjusted basis, excluding automobiles. January’s data marks the 18th time in 19 months that Retail Sales rose, a run that’s increased total sales receipts by 11 percent.

This is big news because Retail Sales accounts for close to 70% of the U.S. economy.

In addition, consumer confidence is rising.

In a separate, joint report from the University of Michigan and Thompson Reuters, it was shown that consumer attitudes toward the economy and the future are improving, primarily the result of recent job gains.  

The Survey of Consumers posted its highest value in 12 months.

It is not a coincidence that Retail Sales and consumer confidence both made multi-month highs — the readings are more than loosely linked. As consumers feel more confident about the…

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ooohhhh …. ahhhhh …..

December 8, 2011

Which one do you like better?

(LEFT or RIGHT)

Why?