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Brought to you by: Ronald Ephard

March 2011

Points of Interest…

 Housing Forecast  Canadian Household debt Surges

 Home Maintenance Calendar

 Do Not Call Registry

 Home Maintenance Calendar

 Do Not Call Registry

Housing Starts will return to stable ground in 2011 according to the latest forecast released by CMHC Housing starts will return to stable ground in 2011, according to the latest forecast released by CMHC. The expectation in the meantime, is that housing starts will continue to ease through the last quarter of 2010. This current forecast puts housing starts at between 176,700 and 194,700 units in 2010, and between 148,000 to 202,300 units next year as the market makes its’ way back to levels that are appropriate to demographic requirements. While the economic climate will still foster growth, it will be less than it has beenalthough that is not all bad news. Says Bob Dugan, Chief Economist for CMHC, ―High employment levels and low mortgage rates will continue to support demand for new homes in 2011. Nevertheless, housing starts will decrease to levels are more in-line with long term demographic fundamentals next year.‖ Similarly, there is an expectation that existing home market conditions will be balanced over the next two year period where inventory levels are high, and sales slow down. CMHC predicts that existing home sales will be in the range of 423,800 to 455,900 units in 2010, with a point forecast of 440,300 units. In 2011, MLS® sales will be lower and are expected to be in the range of 390,600 to 483,700 units, with a point forecast of 438,400 units. Ushering in a yin and yang of demand to supply, it is expected that the result will be only a moderate MLS® price increase, indicating a comfortable balance in the market.

Ronald Ephard Mortgage Consultant (778) 881-0276 dephard

This return to stability is expected, for the most part, nationwide, with balance and moderate price increases in various provinces, including Ontario, British Colombia and Manitoba, helped along by low interest rates and to employment levels slowly returning to normal. "While Ontario home sales and prices have moderated since early this year, Ontario housing activity is now more in line with economic conditions. This ensures more stability in housing markets in the months ahead," said Ted Tsiakopoulos, CMHC's Ontario Regional Economist. "This transition in housing activity has been orderly thanks to improving job markets and historically low interest rates."


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Canadian Household Debt Surges

In yet another indicator of the surging state of household debt in Canada, a new report indicates that the average Canadian family’s debt has now hit a new benchmark. According to a report released by the Vanier Institute of the Family, the average household debt amounts to 1.5 times the amount of income. The concern is that there is so much more going out than coming in. To put that in context, household debt, including mortgage has reached $100,000; and the associated debt service ratio is a staggering 150%. Furthermore, for every $1000 a person makes, they owe $1500. The numbers tell the story. The report says, "The debt-to-income ratio has been steadily climbing for the past 20 years. In 1990, average family debt stood at $56,800, with a debt-to-income ratio of 93%. The $100,000 figure represents a real increase of 78% over the past two decades.�

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Home Maintenance Calendar – Spring Checklist Yeah, it’s spring and with winter over, here are some maintenance tips to make sure your home stays in tip-top shape, retains its value and helps prevent costly repairs later on. 

Clean your furnace, replace your filter and if you have a wood-burning fireplace, hire a chimney sweep to get rid of any build up

Check for loose siding, roof shingles, crumbling mortar (if you have brick siding)

Examine your attic for any signs of leaks

Wash or treat wood decks to prevent cracking before the heat of the summer arrives

Hire an air conditioning expert to inspect and adjust your system (window units and central air)

Check for termites or wood ants, as spring is the time they become active again

Clean dryer vents—lint builds up over the wintertime

Add mulch to your landscaped beds BEFORE the weeds have to time to take over

Clean out gutters-leaves and debris accumulate over the winter

Do Not Call Registry – Have You Updated Lately? The National Do Not Call Registry gives you a choice about receiving or refusing telemarketing calls at home. If it’s been a while since you registered (because it does expire), or if you changed your phone number, here’s the information to register your telephone number: 1-866-580-DNCL (866-580-3625) or log on to and follow the few easy steps required. That’s it: your number will be on the List.

Did You Know? I enjoy track and field and assisted Canadian Olympic gold medalist Peter Ogilvie training High School aged athletes at Norwesters Track and Field Club.

About Ronald Ephard : Contact Information:

I Specialize In: o First time Buyer o Self Employed o Home Equity o New to Canada

Ronald Ephard Mortgage Consultant (778) 881-0276 hard

Corporate Office #310, 130 Brew Street Port Moody, BC V3H 0E3 Phone: 1-866-436-4660 Fax : 1-866-433-4686

Home and Mortgage Newsletter  
Home and Mortgage Newsletter  

Home and Mortgage Newsletter March 2011