Canadian Housing still Affordable!

It’s difficult to scan the latest news without coming across one headline or another that talks about Canada’s housing market being on the verge of collapse or its bubble bursting.

But the true market experts beg to differ. That’s why it’s important to look at the facts. According to BMO Capital Markets, an examination of valuations and affordability across the country – not just in Toronto and Vancouver – suggests less risk of a nationwide hard landing than implied by many headlines. In fact, aside from detached properties in Vancouver, Toronto and Victoria, the other major cities BMO Capital studies, including Ottawa, appear affordable for median homebuyers. In other words, mortgage payments and other housing related costs do not exceed 39% of family income (that’s the guideline established by the government in July 2012 for obtaining a insured mortgage).

In addition, with the exception of Vancouver’s condos, Canada’s major cities would remain affordable even if mortgage rates rose two percentage points to more normal levels. Nationwide, mortgage payments on the average-priced house consume a moderate 28% of household income, or 23% for people living outside Vancouver and Toronto, says BMO. Keep in mind that national mortgage-service cost ratio peaked at 44% in 1989 and 36% in 2007. Most important, the current 28% matches the long-term norm, suggesting that rising income and falling mortgage rates have largely offset the deterioration in affordability caused by higher home prices. To pump life into the economy, the Bank of Canada (BoC) has kept

Canada’s overnight rate at just 1% since September 2010. According to BMO, a normalized overnight rate would be closer to 3.5% given the inflation target of about 2%.

RBC Economics also notes that, while home prices are currently elevated, exceptionally low interest rates keep the ownership cost burden manageable for the most part. While affordability levels generally do not appear to pose a threat to the Canadian housing market at the moment, RBC cautions things could be radically different if interest rates were to move rapidly and significantly higher, explaining that exceptionally low mortgage rates have been the main factor preventing affordability from reaching dangerous levels in recent years. Thankfully, RBC sees continued lower interest rates, expecting the BoC to leave its overnight rate unchanged at 1% throughout 2013 and raise it only gradually starting in 2014.

The CD Howe Institute’s monetary policy council is recommending the BoC keep the target at 1% until March 2014.

If interest rates remain low, income continues to rise and home prices stabilize in 2013 – as

BMO anticipates – fears of a deep housing correction should recede.

RBC believes the eventual rise in rates will take place at a time when the Canadian economy is on a stronger footing, thereby generating solid household income gains, which, in turn, provide some offset to any negative effects from rising rates. If interest rates remain low, income continues to rise and home prices stabilize in 2013 – as BMO anticipates – fears of a deep housing correction should recede. With mortgage rates remaining at all-time lows, now’s a great time to get a new mortgage and/or take measures to accelerate your mortgage payments while rates are still low. There are many ways to pay your mortgage off quicker such as increasing the frequency of your payments from monthly to weekly or every other week, or making extra or lump sum payments.

Nelly Van Berlo AMP , CPMB

Mortgage Broker/Owner

Dominion Lending Centres The Mortgage

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Gluten Free Crepes

Hello and Good day to all you! 

Today I have a quick and easy breakfast or snack Dish for you. I personally love this one because you can add to this whatever you feel. If you are craving sweet you can add chocolate, ice cream, powdered sugar. And if you are more for breakfast then add eggs and ham inside. Its up to you to be creative with this. So enjoy this recipe and comment below how it went as well as letting me know your favorite toppings to go onto crepes.

Gluten Free Crepes

Ingredients

1 cup of your favorite Gluten Free Flour (oat, buckwheat, quinoa, rice, sprout..etc.) 

11/4 Cup of dairy free milk (you can use almond, goats...etc) 

  OR 

2 Cups of water (or when reached desired thickness)

2 Large eggs 

3 Tablespoons Organic Butter (Use 1 for cooking)

1/2 Teaspoon Salt (I use finely ground sea salt)

1/2 Teaspoon Vanilla 

1 or 2 pinches of gluten-free Baking Powder (make your own**)

Directions

1. Mix Dry and Wet ingredients separately. You can leave out the water if you are using water to add at the end. 

2. Mix the both Dry and Wet together, whisking so that the batter is smooth. This is when you add the water, a little at a time to get the desired amount in. If you need to add more milk, at a little at a time.

3. Ensure there are no clumps in batter. 

4. Heat pan on medium heat. Ensure your pan is hot when pour mix.

5. Pour mix into pan. Lift and swirl pan allowing the mix to thin out. Create a circular shape.

6. 1 minute on Each side, until browned.

7. Remove, place onto plate and add desired toppings.

**2parts Cream of Tartar

    1 park Baking Soda

    1 Part Starch (corn, potato...etc)

Topping Choices are up to you!! I love to use fruit, chocolate, powdered sugar, eggs and ham, jams, nuts...etc. There are so many options out there! Have Fun and don't forget to comment below telling me how this recipe worked for you and what kind of toppings are your favourite! 

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Tips for Tuesday!

Hello all, I have some great ideas that I pulled together for you today on Tuesday. Now go ahead and check out these great Ideas for the Home:

Library in Loft: This is great for those homes that have a loft!! A great way to utilize it! 

Tell me Why wasn't this invented sooner? This is brilliant and so convenient too!

For The car. This would be perfect for my little puppy, Leroy. 

A fancy way to have a dog dish. You know how they can look messy or just not very nice. this works well. it looks classy and it looks clean.

Smart way to organize your fridge! 

No need to use those measuring spoons, you can just measure them straight from the containers!

In the Oven. Making more than one dish at a time, have it all done at the same time!! Easy!

Last Tip for today, this is a kitchen that was renovated using Rustroleum. Have you heard of it?? They have kits for whatever you want to work on - kitchens, bathrooms, garage...etc. Check em out!

Well I hope you liked these tips for today!! They certainly are neat items to look into!! 

Have a good day!

With Love:

Kristina

Motivation :D

Your future is created by what you do today, not tomorrow -Robert Kiyosaki-

Mid-Weel Meals!

Hello Readers, 

I have 2 recipes for you today. I came across these recipes from neat website and thought I would share those with you today. I wanted to use these 2 recipes because for one the first recipe involves cauliflower and I think cauliflower is amazing, you can do so much with it!! And the second one is because I am in the mood for some muffins and I love peanut butter. SO instead of sharing a personal recipe, ill share something I found for you, making it easy for you to not have to search the web for great recipes, ill bring them to you! 

First recipe is a healthy version of Fettuccine Alfredo. I love this dish, it was a favorite of mine when I was younger and now I never really eat it because Im not gluten intolerant so I guess I started to avoid pasta dishes. BUT there are options out there for gluten free pasta.

Fettuccine Alfredo by Lindsay at Pinch of Yum

Ingredients

• 1 lb. uncooked fettuccine noodles
• 3 small heads cauliflower
• 6 cups vegetable broth
• 6 cloves garlic, minced
• 1 tablespoon butter
• 1 teaspoon salt
• pinch of nutmeg
• pinch of black pepper
• 1 tablespoon olive oil
• ¼ cup heavy cream
• 1 cup starchy boiling water from pasta pot

Instructions

1. Chop the cauliflower. Bring the vegetable broth to a boil over medium high heat and add cauliflower. Cook until cauliflower is soft, about 15 minutes. In my experience, the longer you cook it, the smoother the sauce will be. Meanwhile, melt the butter in a large skillet over medium heat. Add the minced garlic and saute for 4-5 minutes or until soft and fragrant.
2. As the garlic and cauliflower are cooking, bring a large pot of water to boil and cook the fettuccine according to directions on package, reserving some of the starchy water to add to the sauce later.
3. Transfer cauliflower to a blender with about 2 cups of the broth. You may need to do this in batches depending on the size of your blender. Add the sauteed garlic, salt, nutmeg, and black pepper and puree until very smooth, about 5 minutes. Once the mixture is moving, stream the olive oil into the blender. Add more broth or water if the mixture is too thick to move through the blender. You want it to turn through the blender easily. When puree is very smooth, transfer back to the butter/garlic skillet.
4. Add the cream and cook over low heat. Add the starchy pasta water (or regular water if you’re not making pasta) and keep warm until ready to serve. Combine noodles and sauce in a large pot or skillet and serve immediately.

Id like to add in that I would use rice, quinoa or sprout pastas to substitute. And Im not 100% sure, but maybe trying a plain greek yogurt instead of the cream. I will have to try this and get back to you!! If you happen to try it before me, comment below and let me know!! :D 

Peanut Butter & Honey Muffins by Lindsay at Pinch of Yum

Ingredients

• 1 cup flour
• 1½ teaspoons baking powder
• pinch of salt
• 3 tablespoons peanut butter (crunchy or smooth)
• 2 tablespoons oil
• 3 tablespoons honey (agave nectar if vegan)
• ¾ cup milk (almond, soy, etc. if vegan)

Instructions

1. Preheat oven to 350 degrees. Whisk the flour, baking powder, and salt.
2. Add the peanut butter and oil and mix with a fork until crumbs form.
3. Add the milk and honey and mix until just combined. Do not beat.
4. Pour into muffin tins (about ¾ full) and bake for 10-12 minutes, until tops are golden brown and spring back when you touch them.

This recipe, If its agave you eat, don't let me stop you, but i heard that it really isn't healthy for you. I was told its a metabolism killing disaster!! Personally, organic raw honey would be best because it hasnt been heated to heats that takes out the goodness for you that you find in honey. And Flours of course I would substitute for a gluten free ones such as oat, quinoa, bean, rice, sprout flours. Other than that sounds like a good recipe.

Comment below when you have tried these. Let me know how you like them, what worked, what didnt!! 

With Love:

Kristina

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Top 6 Tips for Buying a Home

Keep and eye on your Credit Score - This is self explanatory, the best the score, the more likely to be a approved and the better the rate.

Check for Pre-Approval - Seek a Mortgage Professional to talk about what you can afford, make a plan and see if you can get pre-approved. This will help your process and will give you more of an advantage. 

Seek Legal advice to go over contract - This is to make sure you understand everything that is written.

Negotiate Price - You can find that you can get a good price on the home for less then they are offer if you are willing to negotiate. BUT be aware that there may be other offers, therefore you may end up in a bidding war meaning you can pay for than expected!

Make a list of your needs, wants, must haves and do not wants - This is important because you can narrow down houses and it will help your agent look for the right places. In this make sure you include looking at the neighbourhood. Look at things like, where schools and parks are, which banks are in town and whats the crime rate. 

Prepare for Pre-Delivery Inspection - If possible you are able to walk with the builder, you can also search the internet for the build, see what work he does, what his name carries. In this inspection, make sure you take note of all the things that need fixing or is missing. This is crucial, so be prepared and its more than ok to take your time during the inspection.

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THE RICHEST MAN IS NOT HE WHO HAS THE MOST, BUT HE WHO NEEDS THE LEAST.