Still time to get your picks IN to WIN!

General Mark Goode 29 Jan


Register now for the Nation’s Largest Hockey Pool and you could win 100,000 cash among other prizes. 


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Mortgage Man – Dominion Lending Centres
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You can still get your Hockey Picks in to WIN!

General Mark Goode 29 Jan

Mortgage Man – DLC


There is still money and prizes pouring out as week 19 gears up for the MMDLC Hockey Pool. A national Competition that hasbeen ongoing throughout the Hockey season. Click here now to register or sign up your picks.
Each and every week 26 people are picked at random for a prize!

Next Deadline 7:00 PM EST on Monday, Feb. 3, 2014


Second Half Prizes

  • 1st Place (x1)
    Awarded to the contestant who finishes with the best rank over the course of the Contest from January 6, 2014 to April 13, 2014. $2,500 CDN cash
  • 2nd Place (x1)
    Awarded to the contestant who finishes with the second best rank over the course of the Contest from January 6, 2014 to April 13, 2014. $1,000 CDN cash
  • 3rd Place (x1)
    Awarded to the contestant who finishes with the third best rank over the course of the Contest from January 6, 2014 to April 13, 2014. $500 CDN cash
  • 4th Place (x1)
    Awarded to the contestant who finishes with the fourth best rank over the course of the Contest from January 6, 2014 to April 13, 2014. $300 CDN cash
  • 5th Place (x1)
    Awarded to the contestant who finishes with the fifth best rank over the course of the Contest from January 6, 2014 to April 13, 2014. $200 CDN cash

Weekly Prizes

    • 1st Place (x26)
      Awarded to the contestants who finish with the best rank during each Week. $250 CDN cash ($6,500 CDN total)

Each weekly winner will also qualify for participation in the exclusive Playoff Bonus Game
for the chance to win $100,000.

    • Random (x26)
      Awarded to one randomly selected contestant each Week, regardless of rank. All contestants that have submitted picks (not carried over) for the applicable Week are eligible for the random drawing. $100 Gift Card

Playoff Bonus Game Prizes

    • Playoff Bonus Game Grand Prize
      A bonus prize of $100,000 will be awarded if an eligible entrant correctly predicts the answers to all X questions about the final series of the 2014 playoffs during the Playoff Bonus Game, held exclusively for the N qualifiers from the Regular Season and Playoff pools. A maximum of one (1) $100,000 bonus prize is available to be won. In the event that more than one eligible entrant qualifies for the bonus prize, the prize will be split evenly amongst the winners. $100,000 CDN cash
    • Playoff Bonus Game Consolation Prize
      In the event the Playoff Bonus Game Grand Prize is not awarded, one consolation prize will be awarded to the entrant with the most correct picks in the Playoff Bonus Game. In the event of a tie, the tie-breaking question(s) will be used to determine the consolation prize winner. $1,000 CDN cash

The total approximate retail value of all prizes is $119,100 CDN. Details on registration site

Resolve to acheive your goals!

General Mark Goode 22 Jan

According to a recent TransUnion survey, 47% of Canadians are committing to at least one financial resolution this year. That being said, 37% did not reach their goal in 2013.

Resolutions are easy to make, hard to keep. Goals can more attainable if you have a coach in your corner. So let us help you tackle your financial resolutions for 2014.

‘Resolve the make your kids more financially savvy than you were’

Motivational quote for your fridge: “Teaching kids sound financial habits at an early age gives all kids the opportunity to be successful when they are an adult.” —Warren Buffett

Pep talk: Sure, we all want our children to be happy. But let’s be honest — what we’d rather be saying is: we all want our children to be rich. Well, you can point them in the right direction. Warren Buffett says his greatest inspiration was his father who taught him about the value of saving. This is your chance to give your kids something better than money. Teach them to fish, so to speak.

Peer support: When Naomi Mesbur’s son, Ciaran, was born, she was in debt.

She had helped fund her first husband’s business and supported them when he became ill. When he died, she had $40,000 worth of debt.

It’s a family cycle of negative behaviour that you want to stop for your children

“I don’t want to leave debt for my kid,” the 43-year-old Toronto legal assistant says. “I also want to teach him so that he doesn’t end up in this mess.”


She looks for teachable moments. She talks to Ciaran who is seven, about prices at the grocery store. They play Monopoly. She brings him to dollar stores for treats. “[I tell him,] ‘You can get one thing…but it can’t be more than $1.50.’ So he chooses something and looks at the prices.”

Every week, his school has pizza day. They go to his piggy bank for the money to purchase a $2 slice and a $1 drink. If he wants an extra slice, he can help around the house for more money.

“It’s a family cycle of negative behaviour that you want to stop for your children,” she says. “I’m a single mother. To set new economic standards for the future, we have to teach the kids now.”

Expert advice: “You don’t have to talk to kids about derivatives,” says Gary Rabbior, president of the Canadian Foundation of Economic Education. “Don’t be fearful if you’ve made mistakes and you haven’t necessarily been perfect in your own life. Often mistakes are the best lessons.”

“Money is becoming much more important in people’s lives today and they’re involved in so many more decisions. If they’re going to make those decisions, they should have the basic understanding to be able to make good ones. If you don’t help them, the consequences of the mistakes they can make are having greater impact on their lives. If you make mistakes early, it can leave a legacy for a long time that you have to overcome.”


  • Involve your kid in your everyday finances. This doesn’t mean making them calculate your taxes. Talk to them while grocery shopping. Show them that you’re comparing prices.
  • Don’t lecture. Your money lesson has to be fun and engaging. You want to talk about savings? Paint a piggy bank or decorate a change jar to accumulate money.
  • Consider giving them an allowance. Some believe that children should not be paid for chores, but it’s up to you. Offer them an opportunity to earn extra income – maybe doing stuff no one wants to do such as vacuuming the car or massaging grandma’s feet.
  • Count the money in their piggy banks regularly. Tell them how close they are to their goals. Tell them how awesome that is.
  • By the time that your savvy kid is in elementary school, they may be ready for their own bank account. Your financial institution may require documents to open the account, including a SIN card, a birth certificate or passport; ask if they have a no-fee account for children 12 and under.
  • Teach them that every decision involves a trade-off. “Whenever you do something, buy something, there’s something you’re giving up to either buy with that money or do with that time,” Mr. Rabbior says. If your child wants a new bike, for example, ask if he’s willing to spend his savings on the bike now or continue saving for the video game consul to get it sooner. “Help your kids value the future versus the here and now.”
  • If you budget and keep track of your expenditures, let your kid in on it. Talk to her about why daddy is walking empty-handed out of the electronic store.
  • Help them set up a business. (And maybe explain to them that their lemonade earnings need to cover your initial investment of lemons and sugar.) Mr. Buffett started his first business when he was six. He bought a six-pack of pop for 25 cents and sold each one for a nickel.
  • If you volunteer or donate money, explain why you do it. Encourage them to donate old toys, books and clothing to others. Let them put money in charity boxes. Get their help picking out canned foods during food drives.
  • Talk to your mini-consumer about smart consumerism. Look at ads in the media and talk to them about strategies the company uses to try to convince shoppers to buy their product. If they’re buying a product, help them look at different options and compare prices.
  • Figure out what you spend on your teen’s wardrobe and give it to them to budget. Remind them that the money is finite for the year.
  • Movies about money to watch with the family: Richie Rich, Toy Story 2, Field of Dreams
  • Children’s books to read about money: Something Good by Robert Munsch, A Chair for my Mother by Vera B. Williams, Rock, Brock, and the Savings Shock, by Sheila Bair
  • Games to play: Monopoly, Exact Change, The Game of Life, Payday

Mortgage Man – Dominion Lending Centres | Ph: 705-326-8523 | Fx: 705-326-8645 | | FSCO# 12254 | 180 Memorial Avenue | Orillia, ON L3V 5X6 | 

 â€¨ All credits and copyrights to their respective owners.  â€¨Article may have been altered or edited from Original Post. 
Corin Payie MMDLC

Someone in Ottawa is Getting Nervous…

General Mark Goode 22 Jan

OttawaWe all read the news, including a certain someone who happens to have influence on Canadian mortgage regulations. Here’s what he might have been reading the past few days:

The Department of Finance has been trying to manage a “soft landing” in housing, but realty soothsayer Phil Soper sums up the market like this: “We expect no landing, no slowdown, and no correction in the near-term.” (Post article)

Do you get the sense that four rounds of mortgage rules are not moderating home values like mortgage deity, Jim Flaherty, expected?

And now he’s got another thing to worry about: potentially lower interest rates, which fuel debt accumulation.

In no uncertain terms, Bank of Canada boss Stephen Poloz is telling Canadians he’s “worried” about inflation falling too low. When the BoC says that in public, bet on rates not rising for several months. In fact, trader types are now pricing a reasonable chance of a rate cut.


(Click to enlarge)

This Bloomberg data shows a 48% implied probability of a rate cut by October, based on overnight index swap (OIS) prices. We haven’t seen the odds this high in a while.

This all comes as Canada just laid an egg in employment, losing an unforeseen 46,000 jobs in December. In the last six months, the country has created just 3,400 jobs a month on average, for a population of 35 million!

The key U.S. jobs report also disappointed today.

(Note: If you had to choose just one indicator to divine rates, employment would be it—albeit it’s very volatile.)

So this brings us back to the man behind the big desk at Finance. Knowing that housing is firing on most cylinders, knowing that the BoC has an easing bias, knowing that rates can’t be expected to moderate consumer debt levels, what does he do?

jim_flahertyIn recent months Flaherty has affirmed that:

“…We have no plans for further (mortgage rule) action at this time…”

But he’s also been reiterating this statement more often, as he did on CTV this weekend:

“We’ve tightened the rules four times on mortgage insurance and if we have to tighten them again, we will.”

If housing stays hot and the BoC starts telegraphing lower rates, you can probably translate this statement as: “We will.”

Mortgage Man – Dominion Lending Centres | Ph: 705-326-8523 | Fx: 705-326-8645 | | FSCO# 12254 | 180 Memorial Avenue | Orillia, ON L3V 5X6 | 

 â€¨ All credits and copyrights to their respective owners.  â€¨Article may have been altered or edited from Original Post. 
Corin Payie MMDLC

Have Aggressive Gov’t Mortgage Rules Deflated Canadian Economy?

General Mark Goode 22 Jan

Brokers may have been right all along in suggesting the government has simply been too aggressive in its efforts to slow down the real estate market, with growing speculation among economists that the BoC will soon have to fight deflationary trends, in part fueled by idling home sales.

“The inflation right now is very low and it will stay very low in the coming months,” Benoit Duricher, senior economist for Desjardins Group said to the Canadian Press. “So the Bank of Canada should be worried about that.”

That concern was front and centre for industry players expected to parse every word of Wednesday’s BoC rate update. The bank, as expected, held its Overnight rate at 1 per cen, although it lowered its forecast for inflation at the same time suggesting the economy is strengthening.

The bank anticipates that economy grew by 1.8 per cent in 2013, but will expand another 2.5 per cent this year.

That may be overly optimistic, say some analysts, given recent comments by the bank’s governor, Stephen Poloz.

“If the U.S. economy is strengthening as we believe, those will be very welcome kinds of market pressures,” Poloz said on CBC’s the Lang and O’Leary Exchange earlier this month. “But it’ll still be up to us what our monitored policy should be, independently of what’s going on in the U.S. and that will depend on where is inflation relative to where we expect it to be. Right now it’s expected to be too low for too long so that’s where we sit.”
Many pundits are pointing to the aggressive measures the federal government has taken to rein in a hot housing market as a main contributor to slower-than-expected inflationary growth, which has been held below the two per cent target for 19 consecutive months.

It remains to be seen if the central bank will lower interest rates in a bid to encourage positive inflation.


Mortgage Man – Dominion Lending Centres | Ph: 705-326-8523 | Fx: 705-326-8645 | | FSCO# 12254 | 180 Memorial Avenue | Orillia, ON L3V 5X6 | 

   â€¨ All credits and copyrights to their respective owners.  â€¨Article may have been altered or edited from Original Post. 
Corin Payie MMDLC

Canadian Real Estate Number no surprise to most…

General Mark Goode 17 Jan

Despite a summer housing market surge, home sale activity slowed in December – sparking a trend back to moderation that is expected to carry into 2014.

“Activity has gradually eased back from stronger than expected levels last summer and is now roughly in line with the ten year monthly average,” said CREA President Laura Leyser. “We’ll likely continue getting mixed signals in the months ahead, with positive year-over-year comparisons for sales masking the recent moderation in the monthly sales trend.”

National home sales fell 1.8 per cent in December over November despite jumping 12.9 per cent above December 2012’s tally. December marked the third straight monthly decline as activity fell a total of 5.2 per cent following September’s peak.

2014’s sales forecast may depend on potential mortgage rule changes, with CREA Chief Economist, Gregory Klump, believing 2014 may benefit from steady job growth.

“National sales activity has softened in recent months and is expected in 2014 to remain down from levels reached last September,” said CREA Chief Economist Gregory Klump. “That said, absent further mortgage rule changes, sales in 2014 may surpass the annual total for 2013 if demand holds steady near current levels as strengthening economic and better job growth offset the impact of further expected marginal mortgage interest rate increases.”

Current homeowners will likely rejoice, with the national sales price rising 10.4 per cent year-over-year. The national price of sold homes in December was $389,119.

However, according to MLS, the Home Price Index is a better indicator of price trends “because it is not affected by changes in the mix of sales activity the way that average price is.” The “Aggregate Composite MLS HPI” rose 4.31 per cent year-over-year.

“Year-over-year price growth in the MLS® HPI was mixed across housing markets tracked by the index, led by Calgary (+8.74 per cent) and Greater Toronto (+6.31 per cent),” the report stated.

“Greater Vancouver recorded a second consecutive year-over-year increase (+2.13 per cent) following more than a year of declines between late 2012 and late 2013.” ~ Justin da Rosa

Mortgage Man – Dominion Lending Centres | Ph: 705-326-8523 | Fx: 705-326-8645 | | FSCO# 12254 | 180 Memorial Avenue | Orillia, ON L3V 5X6 | 


All credits and copyrights to their respective owners.  â€¨Article may have been altered or edited from Original Post. 
Corin Payie MMDLC by Justin da Rosa

Readers’ Choice Awards 2013 vote today!

General Mark Goode 13 Jan





We wanted to Thank you our clients friends and referral partners for choosing Mortgage Man – Dominion Lending Centres for Home Financing. As a valued client you know that our committment to you does not end at the signature,
we are here for you through out the life of your Mortgage.
We will make ourselves available to answer any questions that may arise. We are always grateful for the feedback we receive from our clients, allowing us to provide the best possible service throughout Ontario and beyond.

We would be grateful if you could cast a vote in the
2013 Reader’s Choice Awards with Orillia Today


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~Corin Payie