July 2018 - My Mortgage Newsletter

David Monteith - Mortgage Advisor

MortgagesLab

david@MortgagesLab.ca
(604) 336-6575
http://www.davidmonteith.ca

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July Foreclosure List

 

Burnaby - Attached
Burnaby - Detached
Delta - Detached
Ladner - Detached
Langley - Attached
Mission - Detached
North Shore - Detached
Richmond - Attached
Richmond - Detached
Ridge Meadows - Detached
South Surrey White Rock - Attached
Sunshine Coast - Attached
Surrey - Detached
Tri Cities - Attached
Vancouver East - Attached
Vancouver East - Detached
Vancouver West - Attached
Vancouver West - Detached
Commercial Foreclosures

Foreclosure properties are always popular. Contrary to US television shows, these properties do NOT sell for pennies on the dollar here in Canada. 

Contact me if you are interested in these , or any other type of real estate. I will help connect you with a Realtor experienced in what you are looking for.



Synergy Real Estate Network

 

Are you a real estate investor - or want to learn how to become one ? 

I am always happy to chat with anyone who has an interest in real estate. Contact me if you'd like to attend one of my club meetings, or just chat one on one over coffee.

Our next meeting is Wednesday July 25 - at 6:30 PM in Surrey. 

https://www.meetup.com/SynergyREN/events/249697991



Bank of Canada Increases Overnight Rate

 

The Bank of Canada met this morning and increased their overnight rate, which means that Prime is heading up. Don’t panic!  This is normal. Check out the photo above, showing the pattern of the overnight rate going back to 1993.

Today the overnight rate increased to 1.50%. Just over 10 years ago in 2007, the rate was 4.25% which made Prime rate 6.25% at that time.  With this increase Prime will likely go up from 3.45% to 3.70%.

In reality this is good news because it means the overall economy is growing.  Please remember that only variable rate mortgage holders are impacted by increases to the overnight rate and therefore the Prime rate.

If you are a variable rate mortgage holder and have questions or are wanting to lock in your mortgage, simply send us an email or give me a call at 604 336-6575.

The next meeting of the Bank of Canada is September 5th and we will be sure to update you again.



Always Learning ..

 

Earlier this month I attended a 2-day educational event by Richard Robbins. 

The training was excellent, and focused on ways to provide better service to my clients in reaching their real estate goals.

What do you do to improve what you do ?



Podcast

 

Think. React. Lead. 

Dom Faussette is an author, executive coach and leadership speaker. His podcast Think. React. Lead. takes you through anything from methods to achieving success, to overcoming obstacles to leave your corporate job and following your passion.

Each week I look forward to Dom's newest episode (and his Instagram feed) - always helps me focus on what I can do better in business and in life.

What are your favourite Podcasts ?



Use the Right Paint Finish

 

Ready to paint your home? Be sure to use the right finishes in each room and feature to make the best impact in your home. Using the wrong finishes can backfire for home owners if the wrong ones are used in the wrong spaces. Below, you'll find the most common finishes and recommendations on where they are best applied to.

- PAINT FINISHES - 

Flat is a low-sheen paint with a non-reflective finish that touches up well and hides minor surface imperfections.  It's ideal for low traffic areas, interior walls and ceilings.

Matte has a low luster reflective finish that is durable, easy to clean, touches up well, and also hides minor surface imperfections. It is great for low to moderate traffic areas, such as bedrooms, and interior walls.

Eggshell Enamel has a soft, velvety appearance and is a good choice for moderate traffic areas such as living rooms.

Satin Enamel if you desire a pearl-like appearance, and are painting moderate to high traffic areas or areas that have some exposure to moisture, such as kitchens.

Semi-Gloss Enamel if you desire a sleek, radiant sheen that is great from cabinets and trim, high-traffic areas and high-moisture areas.

Hi-Gloss Enamel creates a brilliant, shiny appearance with a glass-like finish. This is great for high-use surfaces



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