Current Mortgage Rates

Filed under: Current Mortgage Rates — Timothy Salisbury @ 12:06 pm March 31, 2008
Rate
Term
5-Year Fixed 5.69%
6-Year VRM 3% / 4.875%

Quote of the Week
“Success is simple. Do what’s right, the right way, at the right time.”
Arnold H. Glasgow

Have a great week!

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Paul Croteau
Mortgage Specialist
BMO Bank of Montreal
ph: (905) 321-3230
fx: (905) 641-7854
Paul.Croteau@bmo.com

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Selling a Home? Expect It To Be Sold!

Filed under: Selling Your Home — Timothy Salisbury @ 8:00 am March 28, 2008

“When it is time to sell, I have the tools and marketing techniques to help you sell your home quickly, easily and for the best price. I’ll apply my expertise by providing you with a complimentary computerized market analysis to determine your home’s value in today’s market.”

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By incorporating Royal LePage’s home marketing system, Timothy will mobilize the entire real estate community to find a buyer for your home.

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Smoke Alarms are Mandatory - It’s the Law!

Filed under: Safety — Timothy Salisbury @ 9:51 am March 26, 2008

The following information about smoke alarms comes from Paul, The Fire Guy. Thanks Paul!

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The Independent Fire Code Specialist - Protecting Your Interests

The 1997 edition of the Ontario Fire Code contains changes making Smoke Alarms mandatory in every dwelling unit. The landlord is responsible to install and maintain these devices.

Smoke alarms should be installed on every level of your home, including outside sleeping areas. Because smoke rises, you should place alarms on the ceiling. If you cannot do this, place them high up on a wall (25 cm or 6″ below the ceiling), according to manufacturer’s instructions. There are certain locations to avoid such as near bathrooms, heating appliances, windows, or close to ceiling fans. Test your alarm on a monthly basis by using the alarm test button or by introducing smoke from an incense stick or smoldering cotton string. Follow your owners manual.

Change your batteries on an annual basis, and remember to have and practice a Family Escape Plan.

 

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Recently there have been concerns about the reliability of popular Ionization type smoke alarms. Issues have been raised about how quickly they will actually detect smoke from a smoldering fire such as that from a cigarette dropped into furniture, and sound an alarm.

Ionization type will detect fast flaming type fires such as that normally encountered in a house.

Photoelectric type will detect smoldering type fires such as those encountered with careless smoking.

Since no one can predict the type of fire that will occur, it is difficult to recommend which is best. Fire safety can be enhanced by installing both types.

Q. What is the lifespan of a typical household smoke alarm?
A. Smoke alarms don’t last forever. (this emphasizes the importance of having more than one smoke alarm) According to one manufacturers guidelines, smoke alarms should be tested weekly and replaced when they are ten years old. Replace the smoke alarm when it does not test properly. Clean and care for the alarm as described in the owners manual.

Q. What locations in homes should be avoided when installing smoke alarms?
A. Manufacturers state to avoid locations where smoke may not reach the alarm in time to provide early warning, or where the alarm may not be effective.

Do not place smoke alarms:

In or near turbulent areas of your home such as doors, windows, fans etc. In or near dead air space such as the peak of an “A” frame ceiling. In rooms with simple sloped, peaked or gabled ceiling, install smoke alarms on the ceiling 90 cm from the highest point. In or near very hot or cold areas where the temperature exceeds 38C (100F) or falls below 5C (40F).Less than 25 cm (6 in.) from the wall when mounted on the ceiling.

Q. In what rooms should a smoke alarm NOT be located?
A. In the bathroom. High humidity can interfere with the sensing chamber. In the kitchen. Normal cooking will activate most smoke alarms.

Q. Where should smoke alarms be located in the home?
A. Smoke alarms must be located on each floor level, between the sleeping area and the remainder of the dwelling unit.

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Current Mortgage Rates

Filed under: Current Mortgage Rates — Timothy Salisbury @ 9:11 am March 24, 2008
Rate
Term
5-Year Fixed 5.69%
6-Year VRM 3% / 4.875%

Quote of the Week
“People talk of killing time, while time quietly kills them.”
Dion Boucicault

Focus - A Weekly Financial Digest (focus080320.pdf)

Have a great week!

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Paul Croteau
Mortgage Specialist
BMO Bank of Montreal
ph: (905) 321-3230
fx: (905) 641-7854
Paul.Croteau@bmo.com

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Interest rate cuts appear likely in April

Filed under: Buying a Home — Timothy Salisbury @ 8:00 am March 21, 2008

This article was posted in St. Catharines Standard.

It appears the Bank of Canada has a green light to lower its key interest rates aggressively next month if it wants to stimulate the economy, following another flat inflation report and the dramatic cut announced Tuesday by its American counterpart.

One of the pitfalls that Canada’s central bank wants to avoid is inflation, a possible long-term consequence if the economy becomes overstimulated.

But Canada’s inflation rate tumbled to its lowest level in six months in February to 1.8 per cent as the strong dollar continued to give consumers a break on everything from the automobiles they drive to the food they eat.

Meanwhile, the U.S. Federal Reserve’s 75-basis-point cut to its fund rate Tuesday disappointed some looking for more. But even so, the action - coupled with the rare weekend rate cut on Sunday - has opened the gap between the comparable Canadian and U.S. central bank rates to 125 basis points: 3.5 per cent in Canada as opposed to 2.25 per cent in the U.S.

“The Bank of Canada has the leeway to cut as they see fit, and it has a lot more options than the Fed,” said BMO deputy chief economist Douglas Porter. “They don’t have the same urgency to cut rates because the economy is much sounder and financial markets are generally in strong shape, but unlike the Fed, they don’t have to worry too much about inflation because of the strong Canadian dollar.” The Canadian bank’s next scheduled announcement date is April 22.

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Videos on Buying and Selling a Home

Filed under: Selling Your Home, Buying a Home — Timothy Salisbury @ 8:00 am March 19, 2008

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Click above to view videos on buying and selling.

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Current Mortgage Rates

Filed under: Current Mortgage Rates — Timothy Salisbury @ 9:49 am March 18, 2008
Rate
Term
5-Year Fixed 5.79%
6-Year VRM 3.00 / 4.875%

Quote of the Week
“A promise made should be a promise kept.”
Steve Forbes

Have a great week!

paulcroteau.jpg

Paul Croteau
Mortgage Specialist
BMO Bank of Montreal
ph: (905) 321-3230
fx: (905) 641-7854
Paul.Croteau@bmo.com

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