21 Jan

Bank of Canada Shocks Markets by dropping Their Rate!


Posted by: Karen Boies

This morning the Bank of Canada reduced it’s overnight bank rate to 0.75%, from 1.0%, where it had been since September 2010.

The news caught most Analysts by surprise because they thought the Bank of Canada would wait a little longer to see what happens with the falling oil prices before making a rate announcement.

It is important to note that the Bond Markets (which determines how fixed rates are set) was already very low and thus this surprise announcement had an immediate impact on the bonds, pushing them down.  If this trend continues we anticipate that fixed rates for mortgage will drop in the near future.

The Prime rate, which affects Variable Rate Mortgage (VRMs or ARMs) and Lines of Credit (Loc) has not changed yet and remains at 3.00%.   Within the next few days it is possible that the Prime rate will be decreased by the 0.25% and the banks and mortgage companies will decrease their rate as well.

With today’s news, the likelihood of the Prime rate moving upwards in the third quarter of 2015 as once reported by most Analysts, is unlikely to happen.   All (100%) of Bloomberg’s Analysts went  on the record to predict another 0.25% rate cut in March 2015.

To learn more about how this announcement might have affected your mortgage or line of credit, please feel comfortable calling me.

 If you are considering buying a home or refinancing your current mortgage please contact me and I will be sure to help you create a strategy that saves you money.

Talk to you soon,

Karen Boies 604-726-9550 or karen@citywidemortgage.ca

21 Jan

At Your Service! Your Consultant, Negotiator, Overseer of Transactional Details


Posted by: Karen Boies

Hi, my name is Karen Boies I’m an expert liability coach working with the talented professionals at City Wide Mortgage Services.   For Six exceptional years I have, like clockwork, willingly made my progressive mortgage advice available to the homeowners who choose to use their mortgage as a way to create wealth and security.  I have focused on helping first time home buyers and Women, in particular Women going through a separation or divorce.

I believe that even when clients are aware of various mortgage products, they are often unaware of the nature and magnitude of benefits they can realize by creatively structuring mortgage financing.

I believe that one size does not fit all when it comes to mortgages. I believe that my clients deserve personal mortgage banking services.

I believe that even sophisticated clients require expert assistance to select the mortgage(s) that best fits what’s important to them.

My three roles are:

I am Your Consultant.

I am Your Negotiator.

I am Your Overseer of the Transactional Details.

One of the things you’re really going to love about my approach to consulting is that I will invest the time necessary discovering what is important to you, which means you will make decisions based on the goals you want to achieve and the problems you want to solve.

You have many choices when it comes to choosing the right mortgage.  I believe that my clients deserve to have the most skilled consultant, negotiator, and overseer of the details representing them at all times.

It’s important that you know my purpose is for you to be so outrageously happy with the help I provide that you’ll gladly introduce me to at least two people you really care about before your transaction closes.  Not because you feel obligated, but because you truly believe they’ll benefit from my help.

Please contact me for a free report on “Making the Move Easy on the Kids”

You can reach me by calling me at 604-726-9550 or emailing me at Karen@citywidemortgage.ca.    Read my blogs at www.karenboies.ca  or follow me on facebook, Intuitive Mortgage Guide – Karen Boies

I look forward to helping you make your dreams come true!

14 Jan

Extra Mortgage Payments that Make Sense


Posted by: Karen Boies

Dear Friend,

                Here’s a quick note to let you know how I can help you—or anyone you feel comfortable introducing me to. 

A homeowner can significantly reduce the amount they pay for their home in the long run, if they make small extra payments on their mortgage. However, paying even more on top of a high mortgage can be challenging. Here are 5 ways to take the sting out of making extra payments:

  • Make an extra house payment each quarter to pay off a mortgage 11 years earlier.
  • Divide a single payment by 12 and add that amount to each monthly payment.
  • Pay half of your payment every two weeks, also known as bi-weekly payments.
  • Round up your payments so you’re paying at least a few extra dollars a month.
  • Increase your payment when you get a raise or bonus.
  • Take half of your income tax refund and pay it on your mortgage

If you or someone you know wants to discuss mortgage terms, contact me at 604-726-9550 or Karen@citywidemortgage.         

Also ask for a copy of my free report: Credit Card Secrets.

KAREN BOIES Your Mortgage Consultant For Life

DLC City Wide Mortgage Service

P.S. Is someone in your life considering getting a new mortgage or refinancing? Please introduce us, so that I can help them get the right terms for them.

8 Jan

How to instantly eliminate all of your high interest debts…fresh start for the New Year


Posted by: Karen Boies

CMHC reported that 71% of all mortgage consumers refinanced before their mortgage term was up. Of those who refinanced, 29% did so to consolidate debt. It’s easy to see why. While credit card interest rates currently range from 10-20%, consolidating that debt into your mortgage can cut your interest costs in half!

To explore the benefits of debt consolidation, talk to me today. I will do a free analysis of your mortgage to see how much equity is available. Then we’ll examine the fine print to determine if any early pay-out fees apply. Obviously, the most attractive time to refinance is when your mortgage is coming due or you’re selling one house and buying another. Depending on your situation, your interest savings can more than pay for any fees involved.

I will do the calculations and present a plan that shows what your bottom line benefit is. In many cases, debt consolidation not only reduces interest costs, it can also help put you back on the road to achieving your financial goals. Many clients’ newly consolidated monthly payments are so much lower, they’re able to start an investment plan for retirement or children’s education. Talk to me  today at 604-726-9550 for full details!

I also have a free report, Escape the debt rate race.  Please email me for your free copy….karen@citywidemortgage.ca 

All the best to you for 2015!

Karen Boies