October 2013 - The ultimate mortgage checklist

October 2013 - Hammer Home News
Dear friends,

This month I thought it would be great to share with you the ultimate mortgage checklist and how to get the best possible deals written by Robert Mclister for the Globe and Mail posted on October 16, 2013. Many of his recommendations are great for someone considering what is the best for their own mortgage needs today and in the near future.

I always discuss with my clients how important a good mortgage is and a great Mortgage Broker to help you with getting what you need. Call me anytime if you are looking for someone to help you, I work only with the best!

Robert Mclister starts off by explaining that the lowest possible rate is how many define a good mortgage. But that’s like judging the “best car” by the one with the lowest monthly payment.

He goes on to explain that anyone who’s had to cough up a mortgage penalty or deal with refinance limitations can vouch for one thing: Mortgage restrictions can easily outweigh small (e.g., 0.10 to 0.15 percentage point) differences in interest rates.

It’s tough to predict your refinance needs three or four years out. Statistics show that well over half of Canadians with a mortgage renegotiate before their term is up. And the average five-year borrower changes their mortgage every three-and-a-half years.

That’s why it often pays to trade a slightly lower rate for more flexibility, unless you know you won’t change your mortgage during its term. A cheap rate can certainly save hundreds of dollars up front. Just be sure it doesn’t cost thousands after closing.

On that note, here’s a list of questions to ask. Download
the PDF version of this checklist and check the boxes one by one as you talk with your Mortgage Broker of choice. With a little effort, this list will help you snare the most feature-rich mortgage possible, at a rate that’s better than average.

Call me anytime to discuss your mortgage needs, happy to refer you to the experts and of course, if you know someone who is considering buying or selling, I am never too busy for your referrals!




Ottawa Housing starts jump in August

Ottawa’s housing market showed more signs of having turned a corner in August, as the number of new homes more than doubled when compared to the year before.

Canada Mortgage and Housing Corp. recorded 777 housing starts for the month, up from 374 when compared to August 2012.

Those figures accounted for increases in the single-detached and multiples segments.
The six-month moving average of seasonally adjusted annual rates – CMHC’s preferred metric for measuring housing starts – clocked in at 7,534 units. That’s up from 6,477 units for July.

“Seasonally adjusted housing starts firmed once again in August following strong July building activity. Single-detached construction regained somewhat the ground lost since 2012 while row starts revitalized,” said Sandra Perez Torres, CMHC’s senior market analyst for the region, in a statement.


This Month's Trivia Question:
Visit my website and email me TIP #5 on the 10 steps to buying or selling your home?

The first five individuals to respond correctly will win a $10.00 gift card to Starbucks. Email your answers to rachel@rachelhammer.com

Last Month's Trivia Question:
Urban 'blight' has been a traditional problem in large cities around the world. What is the term for the deliberate improvement of homes or other properties in urban areas to bring up the property values?

The Answer was: a) Gentrification

Congratulations to: Candice N., Jamie G., Nathalie G., Tim F. and Cassandra C. were the first five to correctly answer last month and win a $10.00 gift card to Starbucks.
Feature Listings
35 Stradwick Avenue

Welcome to 35 Stradwick Avenue, the is the first time this unique and charming home with amazing pride of ownership throughout has ever been placed on the market.

32 - 3691 Albion Road

Charming 3 Bedroom 2 Bat end unit condo in truly move in condition.  Freshly painted, brand new berber carpets, hardwood in the bedrooms, very spacious bedrooms with a walk in closet in the master bedroom...

910 Schooner Crescent

Enjoy this completely move-in and beautifully maintained Richcraft Charleston,  three bedrooms including a master bedroom large and spacious with a nice walk-in closet and full ensuite bathroom, separate shower and overized roman tub.

8-510 Stonefield Private

Bright and spacious LEED certified condo, approx. 1095sqft, 2 bedroom, 2 bath and den. Built 2010, Brio II model sunny southeast facing top floor end unit.

63 Tiverton Drive

Great value in this freshly painted semi-detach with all the right finishes. Hardwood and tiles throughout (no carpeting), spacious living/family room, open concept bright kitchen, main floor laundry/mud room conveniently located beside back door to large private backyard.


Rachel Hammer, Broker

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Hammer & Associates Brokerage · 4 - 3101 Strandherd Drive · Ottawa, Ontario K2G 4R9 · Canada

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