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FIVE WAYS TO HELP THE ENVIRONMENT

 

  1. IMPROVE YOUR HOMES ENERGY EFFICIENCY. You can start small by replacing your regular bulbs in light fixtures for LED bulbs, seal your windows, and/or unplug unused chargers.
  2. BUY LOCAL FROM REPUTABLE FARMS. Know where your food is coming from and how it is being produced. You can check out local farmers markets to get to know the local farmers.
  3. CHOOSE ECO-FRIENDLY PRODUCERS/COMPANIES OR SHOP THRIFT. Try to avoid shopping at “fast fashion outlets” and save money by shopping thrift. I’ve found some amazing high quality finds at the Salvation Army and they have Monday Madness sales where certain colored tags on clothes are only a dollar!
  4. USE RE-USABLE BAGS, CONTAINERS & BOTTLES. Be more vigilant in remembering to grab your re-usable bag from your car when you go shopping and use the same bottle for all of your beverages if you can!
  5. SAVE WATER. With looming water shortages and warnings, it’s best to start early. You can start by cutting showers short, shrink your lawn, and if you’re compelled to wash your car take it to a car wash that recycles the water rather than washing it at home with a hose.

HOPE THIS HELPED YOU BECOME A BIT MORE ENVIRONMENTALLY SAVVY! OF COURSE THESE ARE JUST BABY STEPS IN A MUCH BIGGER PROBLEM BUT IT’S A START IN THE RIGHT DIRECTION TO END CLIMATE CHANGE!

 

“LIKE” our Facebook page or “SHARE” this post to be entered into our quarterly draw for a $150.00 gift card!!!

Facebook: www.facebook.com/midislandmortgagenanaimo

We thrive off of your continued support and client referrals. Let us reward you for helping us get our name out into the community! Please mention who referred you or how you heard from us, when filling out your mortgage application. The name you give us will also be entered into the same draw for coming in to see us!

We are open Monday to Friday from 9 am to 5 pm. Kevin Decker can also be reached after hours at 250 619 2262 and Jason Barudin can be reached at 250 668 2203.

THE MORTGAGE MARKET

Last week Mortgage Professionals Canada released its “State of the Mortgage Market Report”. Although it strongly focused on the mortgage stress test it also included many interesting statistics that help show the current state of the mortgage market. We’ve summarized a handful of the findings below…

  • There are 6.03 million homeowners with mortgages (out of a total of 9.8 million homeowners in Canada) and there are 1.6 million Home Equity Line of Credit (HELOC) holders.
  • The percentage of mortgages in Canada with a fixed interest rate is 68% and the percentage of mortgage with variable or adjustable rates is 27% with “hybrid” mortgages making up 5%.
  • The average Amortization Period is 22.2 years.
  • The average lump sum payment made by homeowners was $22,100.00 which was done by 15% of them. An additional 33% of homeowners voluntarily took action to shorten their Amortization Periods.
  • 74%: The average home equity of Canadian homeowners, as a percentage of home value and 4%: The percentage of mortgage-holders with less than 15% home equity.
  • Among recent buyers who bought their home from 2015 to 2018, the percentage with 25% or more equity in their homes as 50%.
  • The percentage of homeowners who took equity out of their home in the past year (up slightly from 9% in 2017) was 10% or 960,000.
  • The average amount of equity that was taken out was $74,000.
  • The average percentage of down payment made by homeowners was 20%.
  • Lastly, 52% of homeowners used personal savings for their down payment and 20% used funds from parents or other family members.

Have questions regarding these numbers and statistics? We would love to answer them for you, speak with one of our loan experts today! Call 250 753 2242!

We are open Monday to Friday from 9 am to 5 pm. Kevin Decker can also be reached after hours at 250 619 2262 and Jason Barudin can be reached at 250 668 2203.

 

“LIKE” our Facebook page or “SHARE” this post to be entered into our quarterly draw for a $150.00 gift card!!!

Facebook: www.facebook.com/midislandmortgagenanaimo

We thrive off of your continued support and client referrals. Let us reward you for helping us get our name out into the community! Please mention who referred you or how you heard from us, when filling out your mortgage application. The name you give us will also be entered into the same draw for coming in to see us!

 

For more information please go to CanadaMortgageTrends.com (you can read their article here https://www.canadianmortgagetrends.com/2019/01/the-state-of-the-mortgage-market/) which goes into more detail.

Survey details: This report was compiled based on online responses compiled in November 2018 from 2,023 Canadians, including homeowners with mortgages, homeowners without mortgages, renters and those living with family.

 

The Bank of Mom & Dad