Saturday, March 19, 2011

Interest Rate - Uncertainty

Here is some information I received from Bob and thought some of you may find this interesting. Cheers! Dean


Mortgage shoppers crave certainty, so they continually question brokers or bankers about where interest rates are headed. If this is something you’re prone to doing, first ask yourself if your broker or banker can predict the next global catastrophe, war, financial crisis, or sovereign insolvency. If not, you may want to rethink your question.

Unforeseeable events impact mortgage rates at unforeseeable times. The events of this past week are the latest reminder of how fluid rate expectations can be…. A month ago, some economists were contemplating a BoC rate hike as soon as May.

Now, you see:
- the benchmark 5-year yield plummeting Wednesday to 2.43% (bond rates determine how fixed mortgage rates are set)
- deeply discounted 5-year fixed rates falling back to 3.79%
- market rate-hike expectations being pushed out to September/October (based on Overnight Index Swap [OIS] yields).

The prediction business is as predictable as it never was.

After the collapse of the markets in 2008 and the subsequent recovery, we were promised a roller coaster ride. And that is what we are on. What becomes important is keeping short-term market emotion from steering long-term mortgage strategy.

Those of you who are sitting on your variable rate mortgage and considering locking in... you now have some more time to ponder. It's okay to stay with your variable rate for a little longer.

Thank you,

Bob Quinlan, Mortgage Broker
office: 250-564-9161
cell:    250-565-8444
#2 - 1810 third Ave.,
Prince George,  BC  


This copy couresty of:
Best regards

Dean Birks

Top Office Producer 2010

Royal LePage Prince George
Phone (Direct): 250-612-1709


Oh, by the way. I'm never too busy for your referrals!

Posted via email from Prince George Real Estate blog

Monday, March 14, 2011

Great news for Prince George - Bell and Bond (Local MLAs) in Cabinet in New Roles

By 250 News

Monday, March 14, 2011 01:09 PM

Prince George, B.C. – Christy Clark has been sworn in as B.C.’s 35th Premier.
Her cabinet has also been sworn in, and there are major changes.

Local MLAs, Shirley Bond  and Pat Bell  are part of the cabinet although they are in very different posts.  Bond is now the  Minister in charge of Public Safety and the Solicitor General.  Bell is now the Minister of Jobs, Tourism and Innovation.

Clark has welcomed back Blair Lekstrom not only to the Liberal  caucus but to Cabinet as well.  She has also rewarded  Harry Bloy, the lone member of the Liberal Caucus, who supported her leadership bid.

Cabinet is smaller, "Our new cabinet will reflect the priorities of British Columbians and put families at the centre of all our decision-making," said Premier Clark. "Together, we will focus on creating jobs and building a strong economy because that is the single most important thing we can do to
support families and ensure we can invest in critical services like health and education. This is a team that will work hard to ensure that prosperity and opportunity extend to every region of our province."

The new cabinet is made up of 17 ministers plus the premier, reduced from the previous total of 24. This includes the new Ministry of Jobs,Tourism and Innovation, which will bring together many of the functions in government focused on job creation under a single ministry. As well, three new cabinet committees reflect the priorities of government - the Committee on Families First; the Committee on Jobs and Economic Growth; and the Committee on Open Government and Engagement.

Responsibility for colleges and universities has been recombined under the Ministry of Advanced Education; responsibility for mining has been returned to the Ministry of Energy and Mines; Labour and Citizen Services have been combined; and Forests and Lands has been combined
with Natural Resource Operations.

The new cabinet appointed and sworn into office today is:
* Premier - Hon. Christy Clark
* Deputy Premier and Minister of Finance - Hon. Kevin Falcon
* Minister of Aboriginal Relations and Reconciliation - Hon. Mary Polak
* Minister of Advanced Education - Hon. Naomi Yamamoto
* Minister of Agriculture - Hon. Don McRae
* Attorney General - Hon. Barry Penner
* Minister of Children and Family Development - Hon. Mary McNeil
* Minister of Community, Sport and Cultural Development - Hon. Ida Chong
* Minister of Education - Hon. George Abbott
* Minister of Energy and Mines (minister responsible for Housing) -Hon. Rich Coleman
* Minister of Environment - Hon. Terry Lake
* Minister of Forests, Lands and Natural Resource Operations - Hon. Steve Thomson
* Minister of Health - Hon. Michael de Jong
* Minister of Jobs, Tourism and Innovation - Hon. Pat Bell
* Minister of Labour, Citizens' Services and Open Government - Hon.Stephanie Cadieux
* Minister of Public Safety and Solicitor General - Hon. Shirley Bond
* Minister of Social Development (minister responsible for multiculturalism) - Hon. Harry Bloy
* Minister of Transportation and Infrastructure - Hon. Blair Lekstrom

Additionally, 10 MLAs have been named as parliamentary secretaries, and will work with ministers to focus on key initiatives of government.

Rich Coleman will serve as the Government House Leader and Terry Lake will be the deputy Government House Leader. Ben Stewart will be the Government whip.

"We want British Columbians to have the opportunity to be more engaged with government decision-making," said Premier Clark. "We will work with citizens to find solutions to problems, set priorities openly and explain why we make the decisions we do. British Columbia is starting
from a position of strength. It is up to us to build on this strength for the betterment of families across our province."

This copy courtesy of:

Best regards

Dean Birks

Top Office Producer 2010

Royal LePage Prince George
Phone (Direct): 250-612-1709

Prince George Real Estate

Posted via email from Prince George Real Estate blog

Tuesday, March 1, 2011

Feb 2011 Initiatives PG Newsletter

Thought you would be interested. Feb.2011 Best regards,
Dean Birks
Top Office Producer 2010
Royal LePage Prince George

Sent via BlackBerry

Posted via email from Prince George Real Estate blog