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Renovation slowdown to hit brokers

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Mortgage Broker News | 07 Jun 2012, 10:57 AM Agree 0
There's yet more indication that brokers should brace for further slowdown in refis, with a new CMHC report identifying a weakening renovation sector across much of the country.
  • E T | 08 Jun 2012, 05:01 AM Agree 0
    Well, check again, as it is not low in this province of Saskatchewan. Listen to the news media, where our Premier just took a trip accross to Ireland with many of our contractors/builders of sorts went along and hired professionals in the industry for our construction jobs.
  • E T | 08 Jun 2012, 05:05 AM Agree 0
    Slowdown, here in Saskatchewan? Listen to the news media. Our Premier travelled to Ireland with a few of our contracting firms to hire these professionals on the spot for our booming economy. So, please don't put our Brokers in the same category as others out in the larger centres that are in a slow down. We rock!
  • Ronnie Kartman-The Aston Whitehall Renovation Co-o | 08 Jun 2012, 08:56 AM Agree 0
    Which is exactly why the CMHC Refinance-Plus Improvement Mortgage remains the best (and possibly only) remaining avenue for existing homeowners seeking a renovation-based refis. By utilizing 85% of the home's FUTURE VALUE (post-renovations), plus the fact that the rate on the renovation portion is exactly the same as the mortgage, this is by far the best deal for brokers and their clients since sliced Oreos! Unfortunately, many of you avoid this because it is a bit complicated...(I happen to presonally like complicated). I will be happy to offer suggestions to anyone of you with no strings attached. I would just like to help stop the "belly-aching" and point out this incredible opportunity that has actually been around for years.

    Ronnie Kartman
  • Doug Boswell | 09 Jun 2012, 01:27 AM Agree 0
    This report also had positive news regarding home renovations. In the 10 major centres surveyed, the average renovation amount increased from $12972 in 2010 to $13709 in 2011. More people were paying for these in part from their savings for these from their savings - 74% in 2010 to 81% in 2011. In 2011 68% paid for their renovations entirely from savings. These stats are good news for the industries that supply these goods and services.
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