26 NOVEMBER 2012 WEEKLY Your life is Limited not by Opportunities; but by Your Imagination 2 2 Gta Realtors® Release Mid-month Resale Figures 2 3 2 4 & lending rules this past June. The latest group to double down on this argument is CAAMP, the Canadian Association of Accredited Mortgage Professionals. Its senior economist, Will Dunning, issued a report Monday declaring that “'the changes to mortgage insurance criteria are unnecessarily Ever since Canada's housing market jeopardizing the health of Canadas began swooning earlier this year, housing markets and the broader mortgage brokers, bankers and real economy.” estate agents have been busy telling us According to Dunning's estimates, if that the federal government is to blame, the new mortgage rules had been in thanks to its tightening of mortgage place in 2010, 11 per cent of the high- * Independently owned and operated Email : [email protected]Web: www.dreamsandmoney.com 416.473.6100 Sales Representative INNOVATIVE REALTY INC. Brokerage* Your Home Thinking of Selling ... Ask for PERRII’s PERRII MUTHURAMAN MBA PFP CCP 416 473 6100 416 298 8383 Direct Office Dreams Fulfiller Free Market Evaluation Insurance Companies in a Low Interest Rate Era www.dreamsandmoney.com Dream Issue 2 26 Canada's New Mortgage Rules CAAMP 'Unnecessarily Jeopardizing The Health Of Canada's Housing Markets': Just how confident are Canadians “However, Canadians were also more about the economy right now? It confident that the economy is turning depends who you ask. around and that better times are likely going forward.” Two reports about Canadian con- sumer confidence draw a mixed picture. The reports draw similar conclusions on Canadians' attitude toward making a Thursday, the Canadian arm of TNS, major purchase. TNS said its Buy Index, a market research firm, said Canadians which measures whether Canadians feel are confident that the economy is that now is a good time to buy a big presently under control and are “in- ticket item such as a home or a car, was creasingly optimistic” about where the down—though it said that reflected economy will be six months from now. plans to focus on holiday spending. The firm's conclusions were based on a survey of Canadians conducted between Nov. 12 and Nov. 15, just as Canadian Finance Minister Jim Flaherty said in a fall economic update that weak global growth and lower-than-expected commodity prices were weighing on the government's finances. At that time, those surveyed were feeling more confident about the current economic situation since any time since November 2008. Meanwhile, the Confidence Board said But a report Friday from the only 38.5% of Canadians felt it was a Conference Board of Canada tells a good time to make a major purchase, different story. It found that Canadian down from 40.3% last month. consumer confidence had declined for the second consecutive month. The And in a finding that may draw Conference Board survey was con- smiles from Canadian retailers, TNS ducted between Nov. 1 and Nov. 12. said Canadians plan to spend an average of 865 Canadian dollars (US$869) this “Sentiment was increasingly holiday season, nearly C$100 more than negative on questions pertaining to last year and the highest amount since current circumstances,” Todd 2009. Crawford, senior economist at the (Source:blogs.wsj.com) Confidence Board, said in the report. Male Female Male Female Male Female Term 10* age 30 age 40 age 50 $ 11 $ 21 $ 14 $ 27 $ 17 $ 60 $ 100 000 $ 500 000 $ 9 $ 15 $ 12 $ 21 $ 13 $ 40 *The most preferred rates. Rates may vary based on your health and smoker status. To Save Money & Buy Peace –Talk to , your trusted advisor**. **Representing Manulife, RBC Insurance, Canada life, Industrial alliance and many others Perrii Phone: 416 473 6100 Protect your most valuable asset - yourself and your loved ones Buy term insurance buy peace. Price: cup of coffee a day or even less. Save money. Compare our rates with Banks' Mortgage insurance rates. How Exactly Are the Economy? Canadians Feeling About 4 PAGES Toronto and Global Market Review The country is about to pass everyone view the event online. a red ink milestone that the It should never have reached Canadian Taxpayers that level, said federation Federation says is completely director Gregory Thomas, who unnecessary. The national debt blamed the Harper govern- is set to reach $600 billion just ment's economic stimulus and seconds before 8: 19 p.m. other spending for the historic Saturday, (Nov 24) says the federation, debt level. which has set up a "debt clock" to let (source : THE CANADIAN PRESS) The International Monetary Fund said it's considering classifying the Australian and the Canadian dollars as reserve currencies. The two “are to be considered for inclusion” separately in the IMF's “Currency Composition of Official Foreign-Exchange Reserves” data, the Canada and Australia are forecast to be Washington-based lender said in a below 5% of gross domestic product in report published on Nov. 14. They've 2012 and are expected to shrink. previously been included in an “other “It really helps to cement the currencies” category in the COFER stability of these currencies,” Ravi reports. Bharadwaj, a market analyst in The IMF plan comes as Australia and Washington, said in a telephone Canada have shown more signs of interview. “The Australian and stability in the fallout of the 2008 Canadian economies have been much financial crisis than the world's biggest more stable than the top economies in developed economies. While the U.S., the post-financial-crisis era.” to the U.K. to Japan have been coping (Source : Financial Post) with increasing debt loads, deficits in IMF Considering Loonie as Reserve Currency ratio mortgages approved that year wouldn't have been. A high-ratio mortgage is one where the buyer has put down less than 20 per cent as a down payment. “The emerging (and, most likely, substantial and prolonged) housing market slowdown that is resulting from the changed criteria will tip markets into unbalanced states in which house prices are very likely to fall,” Dunning concludes. And that is very bad news, Dunning argues, because of the knock-on effect on employment from a struggling construction sector. In the 2008 reces- sion, "employment fell very sharply in Canada (and the US) in response to News & Views Digest drops in housing values and stock markets," Dunning notes. (Source :huffingtonpost.ca) Debt Clock to Billion Hit $600
Transcript
26 NOVEMBER 2012WEEKLY
Your life is Limited not by Opportunities; but by YourImagination
2 2
Gta Realtors® Release Mid-monthResale Figures
2 3
2
4
&
lending rules this past June.
The latest group to double down on this argument is CAAMP, the Canadian Association of Accredited Mortgage Professionals. Its senior economist, Will Dunning, issued a report Monday declaring that “'the changes to mortgage insurance criteria are unnecessarily
Ever since Canada's housing market jeopardizing the health of Canadas began swooning earlier this year, housing markets and the broader mortgage brokers, bankers and real economy.”estate agents have been busy telling us
According to Dunning's estimates, if that the federal government is to blame, the new mortgage rules had been in thanks to its tightening of mortgage place in 2010, 11 per cent of the high-
CAAMP'Unnecessarily Jeopardizing The Health Of Canada's Housing Markets':
Just how confident are Canadians “However, Canadians were also more about the economy right now? It confident that the economy is turning depends who you ask. around and that better times are likely
going forward.”Two reports about Canadian con-sumer confidence draw a mixed picture. The reports draw similar conclusions
on Canadians' attitude toward making a Thursday, the Canadian arm of TNS, major purchase. TNS said its Buy Index, a market research firm, said Canadians which measures whether Canadians feel are confident that the economy is that now is a good time to buy a big presently under control and are “in-ticket item such as a home or a car, was creasingly optimistic” about where the down—though it said that reflected economy will be six months from now.plans to focus on holiday spending. The firm's conclusions were based
on a survey of Canadians conducted between Nov. 12 and Nov. 15, just as Canadian Finance Minister Jim Flaherty said in a fall economic update that weak global growth and lower-than-expected commodity prices were weighing on the government's finances. At that time, those surveyed were feeling more confident about the current economic situation since any time since November 2008.
Meanwhile, the Confidence Board said But a report Friday from the only 38.5% of Canadians felt it was a Conference Board of Canada tells a good time to make a major purchase, different story. It found that Canadian down from 40.3% last month.consumer confidence had declined for
the second consecutive month. The And in a finding that may draw Conference Board survey was con- smiles from Canadian retailers, TNS ducted between Nov. 1 and Nov. 12. said Canadians plan to spend an average
of 865 Canadian dollars (US$869) this “Sentiment was increasingly holiday season, nearly C$100 more than negative on questions pertaining to last year and the highest amount since cu r ren t c i r cums tances , ” Todd 2009.Crawford, senior economist at the
(Source:blogs.wsj.com)Confidence Board, said in the report.
Male FemaleMale FemaleMale Female
Term 10* age 30 age 40 age 50
$ 11$ 21
$ 14$ 27
$ 17$ 60
$ 100 000$ 500 000
$ 9$ 15
$ 12$ 21
$ 13$ 40
*The most preferred rates. Rates may vary based on your health and smoker status.To Save Money & Buy Peace –Talk to , your trusted advisor**. **Representing Manulife, RBC Insurance, Canada life, Industrial alliance and many others
Perrii Phone: 416 473 6100
Protect your most valuable asset - yourself and your loved ones Buy term insurance buy peace. Price: cup of coffee a day or even less.Save money. Compare our rates with Banks' Mortgage insurance rates.
How Exactly Are the Economy?Canadians Feeling About
4PAGES
Toronto andGlobal Market
Review
The country is about to pass everyone view the event online.a red ink milestone that the It should never have reached C a n a d i a n T a x p a y e r s that level, said federation Federation says is completely director Gregory Thomas, who unnecessary. The national debt blamed the Harper govern-is set to reach $600 billion just ment's economic stimulus and seconds before 8: 19 p.m. other spending for the historic Saturday, (Nov 24) says the federation, debt level.which has set up a "debt clock" to let (source : THE CANADIAN PRESS)
The International Monetary Fund said it's considering classifying the Australian and the Canadian dollars as reserve currencies.
The two “are to be considered for inclusion” separately in the IMF's “Currency Composition of Official Foreign-Exchange Reserves” data, the Canada and Australia are forecast to be Washington-based lender said in a below 5% of gross domestic product in report published on Nov. 14. They've 2012 and are expected to shrink.previously been included in an “other
“It really helps to cement the currencies” category in the COFER stability of these currencies,” Ravi reports.Bharadwaj, a market analyst in
The IMF plan comes as Australia and Washington, said in a telephone Canada have shown more signs of interview. “The Australian and stability in the fallout of the 2008 Canadian economies have been much financial crisis than the world's biggest more stable than the top economies in developed economies. While the U.S., the post-financial-crisis era.”to the U.K. to Japan have been coping
(Source : Financial Post)with increasing debt loads, deficits in
IMF Considering Loonie as Reserve Currency
ratio mortgages approved that year wouldn't have been. A high-ratio mortgage is one where the buyer has put down less than 20 per cent as a down payment.
“The emerging (and, most likely, substantial and prolonged) housing market slowdown that is resulting from the changed criteria will tip markets into unbalanced states in which house prices are very likely to fall,” Dunning concludes.
And that is very bad news, Dunning argues, because of the knock-on effect on employment from a struggling construction sector. In the 2008 reces-sion, "employment fell very sharply in Canada (and the US) in response to
News & ViewsDigest
drops in housing values and stock markets," Dunning notes.
(Source :huffingtonpost.ca)
Debt Clock to BillionHit $600
2
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Ÿ In today’s market, insurance Advisor.ca, the firm announced it is providers face major hurdles. limiting deposits to its Class Plus
product to $50,000 for the remainder of As low interest rates weigh on Ÿ The pool of guaranteed income 2012.earnings, they’re also dealing with more options is shrinking in Canada, and rigid capital and liquidity policies. As The decision was motivated by the those in existence are being fine-tuned such, many are repricing, discontinuing current interest rate environment and by the few companies still offering and redesigning products so they can uncertainty, says Julie Yoshikuni, vice-them.continue to effectively serve customers. president, retail investment products
The latest in a string of similar a n d m a r k e t i n g , E m p i r e L i f e Ÿ The insurance industry has moves is Empire Life’s decision to Investments Inc.changed drastically in the past 36 months. RBC has suspended its perma- Ÿ BMO Insurance is raising level-nent insurance business, and Manulife cost-of-insurance rates on its universal has closed deposits on some of its life products.guaranteed income products. The company cites continued low-
Why? Low interest rates; introduc- interest-rate conditions and high market tion of the International Financial volatility as the reasons for the Reporting Standards; increased compli- increases.ance spurred by FINTRAC reporting BMO’s decision follows rate requirements; a limited number of increases by Manulife; other insurers, restrict guaranteed minimum with-reinsurance choices; and tougher capital such as RBC, have suspended their drawal benefit (GMWB) deposits.rules. This is forcing companies to re- permanent insurance products.According to a release obtained by price or discontinue certain plans.
“Imagination is more important than knowledge,” said Albert Einstein. How is it relevant to every day life?
In every day life, you come across unlimited obstacles; problems one after another. How to overcome all that?
Many times you believe that what you know is the complete truth and refuse to understand that there are alternatives or other possibilities.
“We do not see the world as it is, we see the world as we are. That limits our possibilities.” Said some one.
I am reminded of a story I read years ago.
A frog lived in a well. It had lived there for a long time. It was born there and brought up there, and did not see the outside world. Well, one day another frog that lived in the sea came and fell into the well.
Now look at the conversation between the two frogs.
‘Where are you from?’ asked the well frog
‘I am from the sea.’
‘The sea! How big is that? Is it as big as my well?’ and he took a leap from one side of the well to the other.
’My friend,’ said the frog of the sea, ‘how do you compare the sea with your little well?’
Then the frog took another leap and asked, ‘Is your sea so big?’
‘What nonsense you speak, to compare the sea with your well!’
’Well then,’ said the frog of the well, ‘nothing can be bigger than my well; there can be nothing bigger than this; this fellow is a liar, so turn him out.’
That’s the attitude and approach of many people, when they are confronted with various obstacles and problems.
Often times, our thinking is similar to the thinking of well frog. Don’t we
Insure your dreams
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have to keep our mind open?
Positive thinking and possibility thinking are relevant to overcome our obstacles and problems.
Positive thinking is the mind set and ability to avoid negativism, to use affirmation at all times, to rise above negativity. Positive thinker is not giving
Your life is Limited not by ; but by Your ImaginationOpportunitiesup easily and he continues to explore the alternatives
your fate by the decisions you make and and opportunities.the path you choose to follow. At times, Possibility thinkers small decisions can have profound aren’t concerned about effects.what they are, but what
What is your Goal in life?they can be. They are not concerned about the battles It could bethey have to face, but with ŸDebt reduction.the possibilities they will
ŸChildren’s educationu n c o v e r. P o s s i b i l i t y
ŸBuying a homethinking, then, is the ŸSaving for retirementopposite of dead-end or
blocked thinking. It is ŸSaving for emergencies.creative and solution oriented. It moves ŸBetter jobus forward and frees us from the traps of
ŸBusiness development.pessimistic, and negative thinkers.
Or any otherIf anything is possible, what can you
Whatever it is, it is better to know look forward to happening in your life? that your life is not limited by opportuni-That depends on the choices you make ties but by your imagination. You need and the actions you take. Each day, no, not ACCEPT a fate imposed upon you. each hour, each moment, you decide Rather, you can CREATE your fate.
INSURANCE NEWS AND VIEWS from Advisor.ca
By Perrii Muthuraman
TorontoMLS Sales & Average Price By Home Type
November1 - 14,2012Sales AveragePrice
Detached
Yr./Yr.%Change
Semi-Detached
Yr./Yr.%Change
Townhouse
Yr./Yr.%Change
CondoApartment
Yr./Yr.%Change
416 905 Total 416 905 Total
341 938 1,279 761,273 555,159 610,112
-26.7% -10.4% -15.4% 1.0% 1.9% 0.2%
130 172 302 604,674 391,147 483,063
-18.8% -18.1% -18.4% 6.8% 6.0% 6.3%
120 306 426 437,072 354,366 377,663
-25.5% -6.1% -12.5% 4.0% 6.3% 4.3%
448 180 628 347,681 275,947 327,121
-21.7% -29.4% -24.1% -3.8% 0.1% -2.3%
– up by 1.7 per cent in comparison to the first 14 days of November 2011. The median selling price over the same period was up by a greater rate of four per cent to $416,000. The stronger rate of growth for the median selling price suggests that fewer high-end homes sold this year compared to last.
“During the first half of November, there were fewer luxury detached homes sold as a percentage of total transactions compared to last year. The year-over-year change in the mix of detached homes sold in the GTA, rather than a change in market conditions, was responsible for a lower than normal increase in the average detached home price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Source: TREB
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Dreams and Money takes care to present all the information as accurately and efficiently as possible. Any advice or recommendation appearing in the paper is also part of information only. They should not be construed as an expert opinion. Please note that no representation or warranty with respect to the accuracy or the completeness of the information is given. Information always keeps changing. Hence all the information, including advice and recommendations are to be treated as of general nature only. For your specific circumstances, you are always advised to consult an expert before acting on any information.
GTA REALTORS® RELEASE MID-MONTH RESALE FIGURESTORONTO, November 19, 2012 – money for a down payment before
Greater Toronto Area REALTORS® purchasing a home, in order to offset reported 2,687 transactions through the these higher mortgage costs.TorontoMLS system during the first two This is more difficult in the City of weeks of November. Toronto, where households must pay an
This result represented a 17.5 per additional land transfer tax up front. The cent decline compared to the same abolishment of this tax would allow period in 2011. buyers to have a larger down payment,”
said Toronto Real Estate Board (TREB) “The reduction of the maximum President Ann Hannah.amortization period to 25 years trans-
lated into higher mortgage payments. The average selling price during the Some households will have to save more first 14 days of November was $488,647
unsolicited articles are welcomeselected ones will be publishedemail : [email protected]
At Dreams & Money, we want to help people lead happy lives. We want to help people reach their dreams. A lot of dreams in the world require financial awareness and proper planning to bring to fruition. To get this financial knowledge can be challenging. We realize this, and want to make this process simpler.
We will bring you financial news happening around you that impacts you, along with timeless classics on topics like financial planning, life skills, health etc. to help you grow all around to reach your dreams.
If you are someone who shares this same passion, and think you can contribute to us in any way (writing articles, spreading the message etc.), please let us know. We’ll be happy to hear from you.
THE MISSION
Summary of TorontoMLS Sales and Average PriceNovember1 - 14
2012 2011
Sales AveragePrice NewListings Sales AveragePric e NewListings
growth last month bringing better news for the world economy, business Global market traded surveys showed on Thursdayvolatile during the week and
ended positive on hopes for a Moody's Investors Service stripped resolution to the US fiscal cliff after France of its triple-A debt rating, positive comments by lawmakers in the lowering it by one notch. Moody's US after first day of talks on 16 Investors Service on Monday lowered November 2012. US market will closed France's sovereign rating by one notch early on 23 November 2012 and the to Aa1, stripping the country of its market was closed Thursday 22 coveted triple-A rating. November 2012, for the Thanksgiving German business confidence Day holiday. Upbeat housing data of US unexpectedly rose from a 2 1/2 year low increased confidence that a US budget in November, signaling growth in deal would be reached. Europe's largest economy may rebound.
Existing US home sales increased 2.1% to a 4.79 million annual rate. Foreign direct investment Industrial production in the US unex- in China fell for the 11th time pectedly fell in October as super storm in 12 months at 0.2% in Sandy took out power in the northeast, October to $8.31 billion, as labor costs with output at factories, mines and rose, a slowdown threatened to drag utilities declining 0.4% last month. The growth to a 13-year low and a territorial US index showed manufacturing dispute with Japan weighed on trade. growing at its quickest pace in five China's vast manufacturing sector months. expanded for the first time in 13 months.
The euro zone economy is The Bank of Japan kept on course for its deepest monetary policy steady on downturn since early 2009, Tuesday. Japan's trade
while Chinese factories returned to deficit narrowed in October, though by
On the global market front, investors are focused on US fiscal cliff. The US Congress created the hazardous deadline of 31 December 2012 in August 2011 when it agreed to a deficit less than forecast, as exports fell on deal as a way out of a deadlock over another sharp drop in shipments to raising the US debt ceiling. China.
Investors will also track news flow from the European region as euro-zone Indian markets gained leaders struggle to tackle Greek debt during the week on hopes of issue. Euro-zone finance ministers will positive outcome from winter meet again on Monday, 26 November parliament session. The market senti-2012, to reach an agreement on condi-ment was also boosted by data showing tions to release the next tranche of that foreign institutional investors financial aid for Greece, whose debt and remained net buyers of Indian stocks in budget troubles have rocked markets November 2012. Sensex rose 1.08% to world-wide over the past few years. At 18,506.57 and Nifty rose 0.94% to an extraordinary meeting held on 20 5626.60 in the week ended Friday 23 November 2012, euro-zone finance November 2012. ministers failed to reach an agreement on conditions to release the next tranche of financial aid for Greece.
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STOCKS EXTEND GAINSTSX Trend From Nov.19, 2012 to Nov.24, 2012
The S&P/TSX composite index closed at 12,213.24, up 60.14 points or 0.5 per cent -- marking its sixth straight gain.The S&P 500 closed at 1409.15, up 18.12 points or 1.3 per cent -- driving the benchmark index to its fifth consecutive gain. The blue-chip Dow Jones industrial average closed at 13,009.68, up 172.79 points or 1.3 per cent. Financial shares also advanced for a sixth day ahead of the quarterly reporting season for Canadian banks.
In fact, eight of its 10 main sectors were up. Earlier, the index touched 12,229.77, its highest level since November 12. The TSX ended the week almost 3 percent stronger.
Optimism about a deal to help Greece, hopes that U.S. lawmakers can agree on a solution to avoid a fiscal crisis, and data showing an improving global economic outlook have driven a rally in riskier asset markets this week.
Key commodities showed gains. Gold rose to $1,751.40 (U.S.) an ounce, up $23.20. Crude oil rose to $88.28 a barrel, up 90 cents.
The Canadian dollar is up last trading at 1.0074 per (U.S.). Inflation figures from Statistics Canada didn't grab a lot of attention. While inflation was a little higher than expected in October, the rate remained well below the central bank's 2 per cent target.
Source : Yahoo Finance
Consumer Price in October 2012 matches previous months
Consumer prices rose 1.2% in the 12 months to October, matching the increases in August and September. Energy prices rose at a slower year-over-year rate in October compared with September, while air transportation, food purchased from stores and property taxes posted larger price gains.
Retail trade, September 2012 flat in Ontario
Retail sales rose in five provinces in September But Sales in Ontario were flat in September, following an increase in August. Over all, in Canada, retail sales edged up 0.1% to $39.1 billion in September, following increases in the previous two months. Retail sales in volume terms were flat.
Employment Insurance, September 2012 declined.
Following an increase in August, the number of people receiving regular Employment Insurance (EI) benefits in September declined slightly, by 5,700 (-1.1%), to 525,900.
The number of beneficiaries edged down in Quebec, British Columbia and New Brunswick, while it rose slightly in Manitoba.
Wholesale trade, September 2012 fell
Wholesale sales fell 1.4% to $48.8 billion in September, the third decline in four months. Sales were lower in every subsector.
Travel between Canada and other countries, September 2012
Travel from Canada to overseas countries continued its upward trend, rising 2.0% to 809,000 trips.
In the opposite direction, total travel to Canada fell 0.9% to 2.1 million trips in September.
Job vacancies, three-month average ending in August 2012, increase.
In August, there were 270,000 job vacancies among Canadian businesses, an increase of 22,000 from August 2011. For every job vacancy, there were 5.2 unemployed people, down from 5.8 in August 2011.
The decline in the ratio of unemploy-ment to job vacancies was almost all the result of the increase in job vacancies.
The national job vacancy rate was 1.8% in the three-month period ending in August, up slightly from 1.7% a year earlier.
