Contribution

Happy Valentine's Day! Spring certainly feels like it has sprung and the warmer weather had been a great encouragement to get buyers out shopping for homes. The big banks have pulled their deeply discounted rate promotions due to high funding costs and low profit margins. Otherwise rates are stable and some are expecting prime to drop in upcoming months. The spread between prime and the 5 year fixed is traditionally larger so, there is some merit to these predictions. The Bank of Canada will be meeting again on March 8th.

A reminder that the RRSP contribution deadline is February 29th this year. We get one extra day to pay ourselves and receive a tax break. If you are wishing to contribute but are short on cash, I can help. By adding funds for an RRSP contribution to your mortgage, you can throw your resulting tax refund back on your mortgage. Or, if you are looking to get ahead in the coming year, I can drop your monthly mortgage payments allowing for extra funds to be investment in RRSPs. This can make for a nice refund come the summertime.

Trying to figure out how to get ahead in 2012? Contact me! I'll show you how to save an average of $22,000 on your mortgage in the next 5 years.

All the best!

Jamie Moi, AMP
Dominion Lending Centres - West Coast Mortgages
Your mortgage consultant for life
604-534-6504
jamiemoi@jamiemoi.com

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