Page 39 - Sports Energy News, Cornwall, Issue No 121
P. 39

www.sportsenergynews.com                                                          Issue #121 February 2023                                39


      Continued from page 38 - Brian Johnson  rising  popularity  of  short-term  fixed
      this year. This helps explain why fixed  rates. Data from the Bank of Canada   Continued from page 38 - Mike VanderMeer
                                                                                    upgrades, or small issues that are not expensive to correct. These issues are
      rates are lower than variable, because  shows  a  clear  trend  of  borrowers
                                                                                    usually not a reason to go back to the table to renegotiate. In the case of
      the fixed rates are priced off the bond  shifting away from variable rates and
                                                                                    larger issues, I usually recommend that the buyer and seller split the cost of
      market…[and] the bond market is  towards short-term fixed rates.
      clearly signalling that the worst of    Nearly a third (31%) of all new       the repair as the buyer will be the one that benefits from the repairs. In other
      the  inflation  scare  is  behind  us.  If  mortgage originations as of November   cases, the buyer may not be in a position to correct the problem and ask that
                                                                                    the seller complete the work before closing. In the end both the buyer and
      the current trend continues, there’s a  had a fixed-rate term of under three
                                                                                    the seller have to agree to any price adjustments or repairs. If the seller does
      “very good chance” that 5-year fixed  years.
                                                                                    not agree, then the buyer has the choice to accept the deficiencies as is or be
      rates fall back to the “low fours” by   It makes sense. If I were taking out
      the spring homebuying season.         a mortgage today, I would be inclined   released from the offer.
        If [yields] continue to tick down a  to look at 1 or 2-year fixed because
      little, the possibility that we end up  I think there’s a decent chance that,   Continued from page 38 - Max Ming
      with mortgages in the high threes is  a  year or  two from now, [rates are]   are unable to work due to accident or illness. Many parents are lucky
      not outside the realm of possibility. A  going to be substantially cheaper at   enough  to  have  coverage  through their  employer. If  not,  we have  the
      lot can change, but as it stands right  renewal.                             ability to customize a plan to suit your personal needs.
      now, the direction of travel for interest   Meanwhile, after making up nearly   Create (or Update) a Will/Powers of Attorney: Ensure your dependents
      rates is clearly down and that’s good  60% of new mortgage originations      are taken care of if something tragic happens. At a minimum it will
      news.”                                last  year,  variable-rate  products  are   determine who takes care of your children and who will look after their
        Short-term Fixed Rates Growing in  back to making up a more historically   finances.
      Popularity                            average share of new mortgages,           While you will be bombarded with marketing material that will be
        Many     borrowers   are   clearly  according to the Bank of Canada data.   pitching different investment and insurance options for your next dollar,
      anticipating lower rates again in the  In November, 22% of new originations   we would encourage you to take time to make sure these building blocks
      coming years, which explains the  had a variable-rate mortgage.              are in place for your family, first.


                                            “Livin’ The Dream”


                                              Yoga. Massage. Meditation.  The  did furniture become so contentious?    ninety-six-year-old man in an assisted
                                            list goes on.                          Speaking of contentious, the fumes  living community.  A young dietician,
                                              Even  if  you  say,  “I’m  fine,  thank  from gas stoves are the latest threat.  (dieticians always seem to be zealots),
                                            you,” someone will be eager to  Induction is the answer to that fume  was trying to convince him to eat
                                            share  their  secret  to  a  long  life  and  issue you didn’t know you had!  vegetables.  Seems he’d just never
                                            happiness.   They come at you with     Technology is the key.              gotten around to eating vegetables.
                                            the zeal of the newly converted!       Technology can make your life so  He didn’t like them. She was shocked.
                                              You don’t even have to ask!        much  easier!  (They’ve  been  flogging  She hadn’t gotten there a moment
                                              Do you know what your problem  that one for years, but THIS TIME it  too soon! After she’d completed her
          By Janeen Wagemans
                                            might be?                            really will alleviate stress rather than  pitch, he asked her how old she was.
                                              Gluten! Try  giving  up  gluten  and  simply creating more of it).       Twenty-six, she answered proudly.
            ave you noticed that just about
        Hevery conversation lately, or      you’ll be a new man!                   Siri will help you! Alexa, what’s the  He said, not unkindly, “I appreciate
                                              No, it’s  Turmeric!   We all need  weather like outside my window? Hey  your enthusiasm, and I’m sure you’re
        everything you see on tv, has to do
        with trying to sort you out?  You may   more turmeric! That’s the ticket!  Google! What’s new?                 right, but if I’ve made it to ninety-six
                                              You have too much stuff!  You        Everything is becoming a safety  in good health, I think I’ll just stick to
        think you’re perking along just fine,
        but then you’re confronted by the lat-  should take the 30-day Minimalism  issue. You need a smart watch! A smart  what’s been working for me so far.”
        est threat to life as we know it.  Even   Challenge!  Clutter causes stress, you  phone! Hopefully accompanied by a  She had the good grace to agree.
                                            know!                                smart grandchild.                       I have concluded, in the end, that
        friendly conversations at the dog park
        can center around the helpful solving   No, no. It’s exercise! Get out there   Eat local! Eat ugly vegetables!   the greatest cause of stress in modern
                                            and try cross-country skiing! The best   Don’t drink alcohol.              life is being bombarded by the
        of problems you didn’t even know
        you had!                            thing going for whatever ails you!     Remember when roughage was all  incessant efforts to reduce it.  Let’s
          Stress is the latest trend. Everyone   Do you really need that beer?   the rage? Roughage was going to solve  just take a breath before we jump on
                                              Your furniture is too old. No. The  everything. Apparently, it didn’t.  We  the next passing bandwagon.  Maybe
        claims to have more than the next guy,
        but they also have a recommendation   problem with the world today is  still have things.                      when we say we’re fine, we simply
                                            cheap, disposable furniture!  When     I am reminded of a story of a lovely  are. Fine.
        for how to get rid of it.
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