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Snap up great mortgage deals this November!....

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
$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

NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate.