In recent weeks there has been a lot in the news about increases to mortgage rates, locking in rates and lots of media hype about what will happen to interest rates. Although difficult for some buyers to hear, I think it is positive news to see us moving away from emergency interest levels back to what are still considered historically low rates. It is a sign the economy is stabilizing and that is good news to us all. 
 
For those looking to save on their mortgage, wondering if they should lock variable rates into fixed rates, I have some info passed on from Daryl Marsden from Canada Mortgage Direct.


"I believe that interest rates will continue to rise but that the prime will increase slowly over the next couple years. This will provide you with lots of opportunities to continue to save interest and pay down your principle on your mortgages.
 
If you have not moved to bi-weekly accelerated payments then now is the time to do so as you want to pay off as much principle as possible while rates are low. The future says we will all be paying higher interest rates and that means less will go towards the principle balances we all have so any extra you can apply in the next couple years will go a long way to saving you money in the long term.   
 
The best advise has remained the same, pay off as much of the mortgage as you can with any extra savings you have. If you are looking at locking in the rate then your payment will jump up to the current 5 year fixed rate so why not budget for that payment right now and apply the difference from your current payment and the new payment to the mortgage balance.
 
By doing this now you will prepare yourself mentally for the budget change and you will be now making those extra payments on the principle therefore saving thousands in interest with every quarter that goes by. If you stick to this type of budget you can be a lot further ahead when the time comes to lock in rates."
 
If you looking to buy a home, contact a REALTORĀ® and contact a Mortgage Broker such as Daryl to explain your numbers to you and work with you to achieve your goals.
 
A great example of what these changes can do for you: Simply changing your mortgage payments from monthly to biweekly can take 4 years off of your mortgage!
 
You can reach Daryl at daryl@canadamortgagedirect.com or at 1-403-605-5711. Daryl even wrote a guide called "How to save Thousands on your Mortgage". 
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This great townhouse in the Mosaic Mercado is now sold to a new family.  We wish you many years of happiness and great memories in your new home.   Packing time for my clients as they move on to a new home of their own.

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Since the fall of 2007 when funding was announced for a recreation centre in Northwest Calgary, folks from the northwest have been keeping an eye on the development.
 
Calgary Northwest Recreation Centre Society -  The Calgary Northwest Recreation Centre Society was formed in 2008 to provide a consolidated voice for NW residents.
 
 
The proposed location that has been selected is across from Butter Field Farms in Rocky Ridge / Royal Oak just North of Country Hills Blvd.  Expected completion is 2014/2015.
 
As the NW communities expand the number of small children continues to increase, we all welcome such a facility as well as the expansion of ice rinks at the COP to keep our munchkins active and engaged.
 
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Upgrades and attention to detail have transformed this townhome into a modern, welcoming and move-in-ready home. New tile entry at the front door welcomes you to an open concept main level with new laminate flooring. The open kitchen boasts stainless steel appliances, ample counter and cabinet space and side pantry. With a corner fireplace in the living room and south facing windows, it is a warm and welcoming place to relax. The back patio gets lots of sun. Two very good sized bedrooms and a walk-through bath complete the upstairs. The master bedroom includes a reading or computer nook and each bedroom has a large walk-in-closet. The upstairs bath has a separate shower and lots of counter and cabinet space. The unfinished basement is large and would be a great space to develop. With an attached garage, this townhouse has it all. Book your showing today.
 
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Mountain views from this south-west facing 3 bedroom townhouse in the Mosaic Mercado in sought after Tuscany. Excellent location close to shopping, schools, transit, playgrounds and the Tuscany Club.  The living room on the main level is a great size with  high ceilings and open to the kitchen above. The bright white kitchen with great layout, large island and plenty of counter space leads to the spacious dining room and office/den nook that would be great for a computer station or kids corner. Upstairs ar e 3 good sized bedrooms as well as a full bathroom. The large oversized one car garage, laundry room and storage complete the basement. This unit is at the back of the complex in a great private location with visitor parking convenient nearby. Original ow ners have taken excellent care of this unit and it shows. Book your showing today.
 
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Now priced at $512,900. Excellent value in this 2150 sq ft 4 bed home with developed basement. The fenced backyard opens to paths and greenspace and is excellent for tots to play and ride a bike. The bright main floor with hardwood/slate flooring offers a spacious kitchen, large  breakfast nook and a wonderful living area with built-ins. The main floor front flex room with glass pocket doors would make an excellent office (currently a dining room). The cook's kitchen has a great layout with a large island, ample cabinet space and  stainless/black appliances. The walk thru pantry and main floor laundry with a sink make daily life easy. Upstairs offers a large bonus room, master bedroom with sitting area, large ensuite bath including a jet soaker tub and walk-in closet. Two addition al bedrooms and main full bath complete the upstairs. The basement is finished with a 4th bedroom, a full bath and large open family room. It is a great space for guests, children to use as a playarea or a hangout for older children. Call today!
 
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If you haven't received your community publication or are interested in what is happening in a community that may soon be home check out the various publications available online.
 
 
There are numerous other communities that publish with Suburban Journals. See the full Suburban Journal publication list.
 
Happy Easter!
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