Page 38 - Sports Energy News, Cornwall, Issue No 121

38 Issue #121 February 2023 www.sportsenergynews.com

Neighbourly Advice From Our Local Professionals
Advice Fr
Neighbourly
Local Pr
om Our
ofessionals
about 20 basis points lower compared to Could This be a Peak for Fixed Rates?
By Brian Johnston earlier in the month, according to data While this isn’t the first time fixed
Mortgage Specialist mortgage rates have dipped in recent
from MortgageLogic.news.
The move follows the recent decline in months, some suggest that with
Fixed Rates are Falling the 5-year Government of Canada bond expectations of a recession on the horizon
While rates have been steadily climbing yield, which typically leads fixed mortgage and with the worst of inflation seemingly
for variable mortgages, fixed mortgage rates. behind us, rates could continue to ease
rates have been moving in the opposite The 5-year bond yield closed at 3.05% some more. Fixed rates are now priced
direction. on Jan 30th, bouncing back slightly from a about 120 basis points (or 1.2 percentage
Certain lenders and national brokerages 5-month low of 2.80% reached last week. points) below variable rates.
have been gradually dropping rates Still, yields are down from about 3.40% This indicates the rate market is
for select terms since the start of the year. Average nationally four weeks ago, and the 14-year high of projecting Bank of Canada rate cuts later
available deep-discount 5-year fixed mortgage rates are now 3.89% reached in October. Continued on page 39

Depending on the issue this can lead to the seller can correct them before the home
By Michael VanderMeer renegotiation of the price as long as both hits the market to get top dollar for their
Real Estate Agent
parties agree. Home inspections are also home and ensure a smooth and quick sale
a great education for first time buyers, When deficiencies are found it is not
HOME INSPECTIONS - PURPOSE as the inspections generally point out uncommon for buyers to go back to the
& NEGOTIATING DEFICIENCIES
maintenance issues on a home that buyers seller and try and renegotiate the offer.
Buyers have home inspections may otherwise not be aware of. Keep in mind that in most cases lots of
completed to make sure there are no major
Occasionally sellers will have a home small deficiencies can be found, which are
problems with the home that could lead to
inspection to make sure there are no issues usually maintenance issues, recommended
thousands in repairs, or issues that they are unwilling to accept. with the home. If deficiencies are found Continued on page 39

We have a firsthand appreciation of assets - your ability to earn income. If
Max Ming P.Eng. CFP ® the time and effort it takes to raise a you or your spouse pass away, would
Financial Planner
family. Before worrying about investing the survivor be able to generate the
A Family Starter Kit for retirement, let’s look at what income your household needs in order
As independent financial planners, young families should have, to protect to maintain your current lifestyle? Many
we are fortunate to work with a wide themselves from worst-case outcomes young families need up to $1m or more
spectrum of families at various points in (even if it means investing less each in term coverage. In most cases, avoid the
their careers. While much of the advice we year). insurance salesman trying to sell you an
write about centers on retirement income Term Life Insurance: Your children expensive whole life policy that doesn’t
and planning for the day when you are no will be relying on you financially for address your needs.
many years. Term Life Insurance can Disability Insurance: Disability
longer working anymore, we do also spend a significant time Insurance pays a monthly benefit if you
working with younger families. protect one of your most important Continued on page 39

With our 2021 “Just Homes Listing Program”, Homeowners will never pay more than

3 3/4%+ HST commission which includes full weekly local newspaper

Owned and Operated by M. Jean Cameron Real Estate Limited advertising until sold, internet promotion and even an open house program when needed.
Serving the Community since 1959
613-933-3283 The savings may not stop here. When we sell your home directly to a buyer
check us out on the web at: without another real estate brokerage involved in the sale, we further reduce our
www.soldsmart.ca
sandy@homesnet.ca commission to only 2% + HST
“Not intented to solicit properties already listed for sale”