November 2012

As we maneuver ourselves through this muted market I have been truly struck by just how many incentives are still available for First Time Homebuyers in 2012. Simply put it really has never been a better time to buy. Here are the latest incentives:

* BC Homeowner Bonus up to $10,000 for FTHB

* Property Transfer Tax Waiver for FTHB

* $750 Federal Homebuyer Tax Credit for FTHB

* 10% rebate on Mortgage Insurance Premiums for a "energuide" rated property

* 5 Year Mortgage money BELOW 3%

* Current Market Prices

Seriously now! In a hot market, these incentives are unlikely to be available for much longer and considering a $200k purchase price assuming 5% down purchase on a NEW Qualifying Property (subject to HST) you will enjoy the following:

$10,000 BC Bonus
$550.00 Mortgage Insurance rebate
$10,550 CASH! 6-8 weeks after closing
and
$2000 Savings via PTT Waiver
AND $750 Tax Credit
 

Buy a NEW Qualifying Home and you will get $10,550 in CASH then Save additional $2000 in PTT savings and still get a $750 Tax Credit, all financed at 2.99% over 25 years!. 

TSX -39.54 to 12,191.05   
DOW -121.41  to 12,811.32
Dollar -0.0017 to 99.78
Oil -0.45 to 84.64
Gold +5.40 to 1,731.40
*these numbers have been taken from  www.tmxmoney.com  at 5:30AM EST
 
Canadian 5 yr bond yields markets +0.0200 to 1.281  The spread (based on the 5 yr published rate of 3.29%) is within the comfort zone at 2.009% http://www.bloomberg.com/quote/GCAN5YR:IND  The rate of return on your bond, can be read through a yield curve, If the increase in bond yield continues to go up, the spread will continue to shrink and this could be a trigger for interest rates to rise.  The comfort zone is between 1.90 and 2.10
 
Thanks to Callum Greig,

Franchise Owner    
DLC - Prime Mortgage Works Inc.
Office: 250-708-2063
Cell: 250-580-5626
Fax: 1-866-845-8513    
Email: callum@primemortgageworks.com
Website: primemortgageworks.com
Twitter: @primemortgagewx