Home Renovations Blog Week 6

After 6 weeks of renovations we have a functional kitchen, dining room and living room. The challenge now is get to the final items which need to be done (backsplash, stairs, and doors painted) Baseboards and casings are now complete with the front doors painted. Home Depot has an interesting product which allows you to insert a window without replacing your whole door. These inserts can be purchased in various styles, we decided to go with blinds inside the window to match the patio doors at the back of the house. These inserts come in a standard size of 22″ x 36″ and there are several varieties of looks.

We also purchased and installed the Delta Touch faucet.  No need to turn the taps, just touch the tap anywhere and it will turn on and off.  With messy hands this is really nice to work with.

The other interesting product we purchased is a table which will expand from 60″ to 132″.  There are 3 table leaves which can be added to create 4 different sizes depending on the size of your social or family gathering.  We purchased this from Dufresne Furniture and love the way this table can expand.

Here is the latest video and as our friends say, our home has a grown up look now.

Home Renovations Blog Week 3

Ready to start week 3 with some great progress from the first 2 weeks.  The electical work has taken some time but when you add 15 pot lights, sound system control boxes, speakers to the ceiling, garbeurator wiring, undercabinet lighting wiring, etc, this takes some time espeically when the attic is so hot in the heat.  After the cabinet install, we had Flo Form out to measure the counter tops.  Now is the time we can start painting and add the flooring, it will be a busy week of activity to make some significant changes.

 

10 year mortgage rates, understanding the odds in your gamble

Since interest rates are at historic lows many consumers are asking questions about 10 year mortgage rates.  This short video gives you an understanding of what you need to understand to ensure you get the best odds on your bet, a 10 year mortgage is like placing a bet.

Here are few other keys points about 10 year mortgages:

1)  After the first 5 years of a 10 year mortgage, Canadian law states that the maximum penalty is 3 months interest payment and not Interest Rate Differential (IRD) like 1 – 5 year mortgages.

2)  Before you commit, have an Accredited Mortgage Professional assist you in the calculation in the video.  This will help you understand what your break even interest rate is in 5 years time.

3)  10 year mortgage rates are not very competitive in today’s environment, a mortgage broker can be a huge advantage for you, your bank or credit union may not be able to be very competitive.

 

 

 

 

 

Similar topics:  Understanding Mortgage Rates 

10 year mortgage rates

10 year mortgage rates

10 year mortgage rates

10 year mortgage rates

10 year mortgage rates
10 year mortgage rates

 

Bank of Canada Rate Announcement: Mar 2, 2010

Bank of Canada holds rates steady today, howevever, This is an article that might be of interest to everyone. We now have experts making predictions when rates will increase in the wake of positive economic announcements for Canada ( + GDP growth). This article states we could start seeing rates increase as soon as June 1. More positive economic news will put pressure on the Bank of Canada to increase rates in coming months. The next Bank of Canada announcement is Apr 20/10.
http://www.theglobeandmail.com/report-on-business/when-will-mark-carney-hike-rates-and-how-far-might-he-go/article1487151/

Bank of Canada holds bank rate steady

Good news for those of you in Variable Rate Mortgages, Bank of Canada continues to hold firm on Bank of Canada rate, meaning Prime remains at 2.25% until 2nd Quarter of 2010. The strength of the Canadian dollar, low exports for the economy and below target inflation help maintain the holding pattern. See release from Bank of Canada for more details.

http://www.bankofcanada.ca/en/fixed-dates/2010/rate_190110.html