Sharpen your pencils!

It’s September and as green turns to gold we return refreshed to the rhythm of our daily routines. It’s our seasonal cue. Autumn is the perfect time to “get back to business” with a fresh look at your finances. Maybe you spent a little extra on that summer vacation, or the little home reno job that grew. That’s okay. Get out your calculator and get back on track.

Mortgage rates have hovered around historic lows for longer than anyone thought they would or could. That’s created a golden moment of opportunity for Canadian homeowners. In fact, the right mortgage can build your wealth… and save you thousands of dollars.

Thinking about a cottage or investment property? Wondering if it’s the right time to expand your space… or find a new one? Looking at ways to reduce your debt? Talk to us. We’ll provide a free, no-obligation review of your situation – wherever you are in your current mortgage journey.

Fall gardening to do list

Just like your financial garden, your backyard garden can benefit from a little seasonal pruning and protection. To help you out, we’ve compiled our to do (and don’t) list:

1. Plant trees, shrubs, perennials and spring bulbs, giving them a great head start for spring!
2. Deadhead but don’t prune to remove spent blossoms from your roses and perennials.
3. Give your roses and blooming plants a rest from fertilizing, although keep feeding annuals.
4. Get a soil test so you can do some amending before the next growing season, if required.
5. If you have mature stands of early-blooming perennials, you can divide them so they can settle before winter.
6. Go through your beds and carefully snip, bag and discard any diseased foliage.  
7. Leave much of your healthy garden intact: especially if you have plants with seedheads that will provide winter food for birds.
8. Try not to scrub the garden clear of brush piles or dead groundcover. Beneficial insects depend on that habitat for their winter survival.
9. All those fallen leaves are nutrients your garden needs next year. Run them over with the lawn mower and rake into your flower beds.

Choosing low-interest debt

Canadians are looking to their mortgages for low-cost funds. According to the Spring 2014 Survey by the Canadian Association of Accredited Mortgage Professionals (CAAMP), for those who qualified to take equity out of their homes (homeowners with at least 20% equity), the average amount withdrawn was $51,000: up from $48,000 in the previous survey. The top reasons for refinancing include:

1. Paying down debt (32%)
2. Renovations (25%)
3. Investments (24%)
4. Purchases or education (12%)

Your mortgage can be your best route to low-interest debt. Whatever your need might be, we can crunch the numbers to see if your mortgage is your most cost-effective financing option.