Big banks face rising pressure to loosen credit
Flaherty certain to demand action when he joins Carney in meeting with financial CEOs next month Les Whittington
OTTAWA–The big banks are facing mounting pressure from Ottawa to do more to make credit available to Canadians during the current economic meltdown.
But Finance Minister Jim Flaherty's ability to convince the banks to loosen their lending practices may depend largely on his political skills.
After years of passing up opportunities to tighten regulation of bank practices, Parliament has few weapons at its disposal –other than marshalling public opinion – when it comes to a standoff with the country's biggest financial institutions.
Flaherty, who will join Bank of Canada Governor Mark Carney in a closed-door meeting with bank CEOs in January, is certain to demand action at a time when complaints about a credit squeeze are echoing through business and government right across the country.
"Access to credit is a huge issue – the minister hears about it in every pre-budget consultation he does, and it's something that we need to continue pressing on," a senior government official said yesterday.
Flaherty has made it clear he feels his extensive efforts to help the banks weather the global credit crunch aren't being reciprocated. And the official points out that these special measures by the federal government are temporary and don't have to be extended.
At issue are the Harper government's plan to purchase $75 billion in bank-held mortgages and its guarantee of up to $200 billion in bank borrowing. Both programs, which are meant to free up credit for business and consumers, expire in the spring.
Asked yesterday whether Flaherty would extend them in the current atmosphere between Ottawa and the banks, the official said pointedly, "Generally speaking, if programs are not effective, you don't continue with them."
With businesses closing and jobs disappearing as the economy plummets ever downward, the ability of companies to obtain loans has become a matter of national urgency.
Quebec Finance Minister Monique Jérôme-Forget said after a meeting of federal-provincial treasurers this week the credit crunch was the most pressing topic raised in the closed-door conference.
And Greg Selinger, Manitoba's representative, said ominously that the ministers from across the country ought to have a talk with the bank CEOs about Canada's "national interests."
When Parliament resumes in late January, the bank chiefs can expect to be called on the carpet by the House of Commons finance committee to explain their lending activities, says Dan McTeague, the Liberal consumer affairs critic.
"Members of Parliament like myself have so far received what is a very disturbing number of calls from creditworthy clients who are having a tough go of it and are prepared to take it up with MPs on the hope that we would demand some accountability from the chartered banks," said McTeague (Pickering-Scarborough East).
Previewing his meeting with senior bankers next month, Flaherty says he will expect them to show that they are making credit more widely available.
And, in an unusual move, Carney has publicly urged the banks not to tighten up lending.
Through the federal finance department, the Office of the Superintendent of Financial Institutions and other agencies, Ottawa scrutinizes the banks' operations, their solvency and their consumer-related practices. But the Bank Act gives the government very little power to tell the banks how to operate.
"There's nothing he can do other than threat," Garth Turner, the former MP and financial commentator, says of Flaherty. "He has no big stick to hold over the banks."
And Flaherty's face-to-face talks with bank chief executives promise to be confrontational. Canada's major banks say they are being unfairly singled out for blame in a credit crunch that is affecting everyone.
Nancy Hughes Anthony, head of the Canadian Bankers Association, acknowledges obtaining loans may be getting tougher for some companies.
"With the Canadian and American economies slowing, there is no question that some of Canada's major industries are going through tough times. When providing credit, sound business practices require that such changing economic conditions be taken into account by lenders," she said in a statement this week.
But the banks maintain it is other lenders – not bankers – who are clamping down on credit.
"As many observers (including Carney) have noted, financing through non-bank sources is less and less available to Canadian businesses," Hughes Anthony said.
Duff Conacher, who heads the Canadian Community Reinvestment Coalition, says successive Conservative and Liberal governments have failed to provide the tools federal regulators need to accurately assess banks' lending practices. He advocates expanding the powers of the Financial Consumer Agency of Canada and the federal Competition Bureau to enable Ottawa to audit the banks' books.
Tuesday, December 23, 2008
Tuesday, December 9, 2008
Lower rates, more savings for homeoners
If someone you care about, has more payments then they would like, and have equityin there home and wants to see how this can help them, please introduce them to me.
Recently a client introduced me to there sister and as a result of our help saved her $600 a month in interest, which gave her the oppertunity to work less overtime and spend more time with her kids!
If you notice someone that I can do the same for please email me at acalla@dominionlending.ca
Tune into The Mortgage Show on 1410am Saturdays at 1pm
BoC slashes interest rate, says recession is here
Updated Tue. Dec. 9 2008 11:02 AM ET
CTV.ca News Staff
The Bank of Canada slashed its key interest rate by three quarters of a percentage point to 1.5 per cent this morning, and said Canada has entered a recession.
The Tuesday announcement reduces the benchmark lending rate to its lowest level since 1958.
Shortly after the Bank of Canada announcement on Tuesday, TD Canada Trust announced it was lowering its prime lending rate by 50 basis points, to 3.5 per cent, with the change set to kick in Wednesday.
"It's an aggressive cut," said BNN's Michael Kane, of the central bank's rate cut.
"It should provide stimulation and as a matter of fact the central banks have been saying that. But it still gives them room to maneuver."
It marks the first time since the global economic slowdown began that the central bank has unequivocally stated that Canada is in a recession.
"While Canada's economy evolved largely as expected during the summer and early autumn, it is now entering a recession as a result of the weakness in global economic activity," said a statement from the Bank of Canada.
"The recent declines in terms of trade, real income growth, and confidence are prompting more cautious behaviour by households and businesses."
The statement added that the outlook for the world economy has worsened and the current global recession is expected to be "broader and deeper" than anticipated.
However, the lower Canadian dollar is one factor that has helped offset the negative effect, making Canadian products cheaper on the global market, the bank said.
The statement also pointed to the possibility of further interest rate cuts, and said measures taken by major governments around the world are beginning to thaw frozen credit systems.
Last week the European central bank cut its lending rate by three quarters of a percentage point, and the Bank of England slashed its rate by one full percentage point.
The U.S. central bank has also dropped its benchmark lending rate by one per cent, and some economists have called on Bank of Canada governor Mark Carney to follow suit.
The Bank of Canada's next update on the economy and inflation will be delivered on Jan 22, just before an expected Federal budget.
Kane said there was evidence of a further slowdown in consumer spending. Sony announced it has been selling flat screen TVs at a loss and will move to outsource manufacturing, sell assets, pull back on investments and lay off thousands of workers.
Recently a client introduced me to there sister and as a result of our help saved her $600 a month in interest, which gave her the oppertunity to work less overtime and spend more time with her kids!
If you notice someone that I can do the same for please email me at acalla@dominionlending.ca
Tune into The Mortgage Show on 1410am Saturdays at 1pm
BoC slashes interest rate, says recession is here
Updated Tue. Dec. 9 2008 11:02 AM ET
CTV.ca News Staff
The Bank of Canada slashed its key interest rate by three quarters of a percentage point to 1.5 per cent this morning, and said Canada has entered a recession.
The Tuesday announcement reduces the benchmark lending rate to its lowest level since 1958.
Shortly after the Bank of Canada announcement on Tuesday, TD Canada Trust announced it was lowering its prime lending rate by 50 basis points, to 3.5 per cent, with the change set to kick in Wednesday.
"It's an aggressive cut," said BNN's Michael Kane, of the central bank's rate cut.
"It should provide stimulation and as a matter of fact the central banks have been saying that. But it still gives them room to maneuver."
It marks the first time since the global economic slowdown began that the central bank has unequivocally stated that Canada is in a recession.
"While Canada's economy evolved largely as expected during the summer and early autumn, it is now entering a recession as a result of the weakness in global economic activity," said a statement from the Bank of Canada.
"The recent declines in terms of trade, real income growth, and confidence are prompting more cautious behaviour by households and businesses."
The statement added that the outlook for the world economy has worsened and the current global recession is expected to be "broader and deeper" than anticipated.
However, the lower Canadian dollar is one factor that has helped offset the negative effect, making Canadian products cheaper on the global market, the bank said.
The statement also pointed to the possibility of further interest rate cuts, and said measures taken by major governments around the world are beginning to thaw frozen credit systems.
Last week the European central bank cut its lending rate by three quarters of a percentage point, and the Bank of England slashed its rate by one full percentage point.
The U.S. central bank has also dropped its benchmark lending rate by one per cent, and some economists have called on Bank of Canada governor Mark Carney to follow suit.
The Bank of Canada's next update on the economy and inflation will be delivered on Jan 22, just before an expected Federal budget.
Kane said there was evidence of a further slowdown in consumer spending. Sony announced it has been selling flat screen TVs at a loss and will move to outsource manufacturing, sell assets, pull back on investments and lay off thousands of workers.
Friday, December 5, 2008
Lower rates to come, good time to buy
As central banks around the world injected historic interest rate cuts into a rapidly deteriorating global economy Thursday, the spotlight fell squarely on the Bank of Canada, which has the added challenge of having to craft monetary policy amid intense political and fiscal-policy intrigue on Parliament Hill.
The European Central Bank cut rates three-quarters of a percentage point to 2.50%, the biggest amount in its 10-year history, Sweden slashed by a record 1.75 percentage points to 2% and the Bank of England cut rates a full percentage point to 2%.
Central banks are racing to catch up to a dramatic slump in global demand in recent weeks as the credit crunch and collapse in consumer and business confidence slashes factory production, sales and jobs around the world.
Next week is the Bank of Canada's turn. Analysts expect the bank to announce a 50 basis point cut on Tuesday, taking the overnight rate down to 1.75%, though money markets were betting it could unleash a more aggressive 75-basis-point chop.
"That's the below the radar play that's gaining some credence," said Eric Lascelles, chief economics and rates strategist at TD Securities. "You have to admit when you see central banks around the world cutting by 75, 100, 175 [basis points] in some cases, it suddenly seems plausible the Bank of Canada could cut by 75."
But Mr. Lascelles was sticking with his half-point call as of Thursday, saying a jump from a quarter-point cut to three-quarters might signal the bank had made an error in judgement somewhere along the way.
Derek Holt, vice-president of economics at Scotiabank, also believes Mark Carney, the Bank of Canada governor, will side with a 50-basis-point cut.
"He's been reticent to make those big calls in the last little while," Mr. Holt said. "I think 50 would be a material step in the direction of keeping some powder dry for when he can see the data deteriorate further and in our forecast, it's early next year."
The Bank of Canada makes its decision on interest rates as the drama continues to unfold in Otttawa. Prime Minister Stephen Harper won his government some time yesterday when the Governor-General Michaelle Jean agreed to prorougue Parliament.
It is likely that when the government returns with a budget on Jan. 27 it will contain some bold fiscal measures such as heftier spending on infrastructure or new tax cuts in order to try and win over a furious Opposition. The Opposition could nevertheless vote the budget down and fiscal stimulus could be delayed if a new election is called.
While the Bank of Canada is fully independent from the government, it takes into account fiscal measures that affect growth and inflation.
"Of course fiscal policy and monetary policy need to work in unison to achieve a particular goal and conceivably if you were to get a new government that was more committed to fiscal stimulus, could that decrease the need for monetary stimulus?" Mr. Lascelles said. "I suppose it could."
He added that with the political and fiscal situation so uncertain the central bank will likely put those considerations on the back burner for this announcement.
Mr. Holt added the bank will likely take the view that any government stimulus will be slow to hit the economy.
"The lags on fiscal policy around the world even for [President-elect Barack] Obama's plans to hit the ground running in January -- by the time you put out the tenders, prioritize the projects, get the suppliers all lined up, do your environmental and regulatory approvals -- it's a year before this stuff really hits the economy," he said. "So for monetary policy that means in the short term, economies around the world are much more reliant on central bank cuts."
The bank's main focus will be on the underlying economy, which has held up better than most so far but yesterday issued some worrying signals: the value of building permits plummeted 15.7% in October from September; the Ivey Purchasing Managers index dropped to its lowest on record at 40.2 in November from 52.2 in October; and bankruptcies surged 21% year-over-year in October.
The European Central Bank cut rates three-quarters of a percentage point to 2.50%, the biggest amount in its 10-year history, Sweden slashed by a record 1.75 percentage points to 2% and the Bank of England cut rates a full percentage point to 2%.
Central banks are racing to catch up to a dramatic slump in global demand in recent weeks as the credit crunch and collapse in consumer and business confidence slashes factory production, sales and jobs around the world.
Next week is the Bank of Canada's turn. Analysts expect the bank to announce a 50 basis point cut on Tuesday, taking the overnight rate down to 1.75%, though money markets were betting it could unleash a more aggressive 75-basis-point chop.
"That's the below the radar play that's gaining some credence," said Eric Lascelles, chief economics and rates strategist at TD Securities. "You have to admit when you see central banks around the world cutting by 75, 100, 175 [basis points] in some cases, it suddenly seems plausible the Bank of Canada could cut by 75."
But Mr. Lascelles was sticking with his half-point call as of Thursday, saying a jump from a quarter-point cut to three-quarters might signal the bank had made an error in judgement somewhere along the way.
Derek Holt, vice-president of economics at Scotiabank, also believes Mark Carney, the Bank of Canada governor, will side with a 50-basis-point cut.
"He's been reticent to make those big calls in the last little while," Mr. Holt said. "I think 50 would be a material step in the direction of keeping some powder dry for when he can see the data deteriorate further and in our forecast, it's early next year."
The Bank of Canada makes its decision on interest rates as the drama continues to unfold in Otttawa. Prime Minister Stephen Harper won his government some time yesterday when the Governor-General Michaelle Jean agreed to prorougue Parliament.
It is likely that when the government returns with a budget on Jan. 27 it will contain some bold fiscal measures such as heftier spending on infrastructure or new tax cuts in order to try and win over a furious Opposition. The Opposition could nevertheless vote the budget down and fiscal stimulus could be delayed if a new election is called.
While the Bank of Canada is fully independent from the government, it takes into account fiscal measures that affect growth and inflation.
"Of course fiscal policy and monetary policy need to work in unison to achieve a particular goal and conceivably if you were to get a new government that was more committed to fiscal stimulus, could that decrease the need for monetary stimulus?" Mr. Lascelles said. "I suppose it could."
He added that with the political and fiscal situation so uncertain the central bank will likely put those considerations on the back burner for this announcement.
Mr. Holt added the bank will likely take the view that any government stimulus will be slow to hit the economy.
"The lags on fiscal policy around the world even for [President-elect Barack] Obama's plans to hit the ground running in January -- by the time you put out the tenders, prioritize the projects, get the suppliers all lined up, do your environmental and regulatory approvals -- it's a year before this stuff really hits the economy," he said. "So for monetary policy that means in the short term, economies around the world are much more reliant on central bank cuts."
The bank's main focus will be on the underlying economy, which has held up better than most so far but yesterday issued some worrying signals: the value of building permits plummeted 15.7% in October from September; the Ivey Purchasing Managers index dropped to its lowest on record at 40.2 in November from 52.2 in October; and bankruptcies surged 21% year-over-year in October.
Thursday, December 4, 2008
December Newsletter-Improve Your Credit
Canada's Top Mortgage Brokers!
Monthly News & Articles
December 2008 News
Angela Calla
(604) 802-3983
acalla@dominionlending.ca
Website
Dominion Lending Centres
2189 Austin Ave
Coquitlam BC V3K 3R9
Welcome to the December issue of my monthly newsletter!
This month’s edition has a holiday theme to help get you into the spirit of the season. While one article will help you easily boost your credit score, another offers tips on getting your home ready for the holidays in a cost-effective manner. Please let me know if you have any questions or feedback regarding anything outlined below.
Thanks again for your continued support & referrals!
In This Issue
Five Ways to Boost your Credit Score
Low-Cost Tips to Get your Home Ready for the Holidays
About Dominion Lending Centres
Five Ways to Boost your Credit Score
Leading up to the holidays is the perfect time to think about things like improving your credit score and consolidating debt. After all, the holidays are a joyous time that should not be overshadowed by financial woes. And even if your credit score is good, these tips may make it even better. After all, the better your credit score, the fewer hurdles you’ll have to overcome when looking to renew or refinance your existing mortgage, or obtain a new one.
Following are five steps to a speedy credit score boost:
1) Pay down your credit cards. The number one way to increase your score is to pay down your cards to 30% of their limits. Revolving credit like credit cards seems to have a more significant impact on your score than car loans, lines of credit, and so on.
By paying down your cards to 30%, you are leaving a big gap between what your limit is and what you owe – a move that is very favourable to increasing your credit score.
2) Limit the use of your cards. Racking up a large amount and then paying it off in monthly instalments can hurt your credit score. If there is a balance at the end of the month, this affects your score – credit formulas don’t take into account the fact that you paid it all off the next month.
By being more accountable of your spending on a daily or weekly basis through the use of a budget, you can keep those cards below the magic 30% mark.
3) Check your limits. If your lender is slow to report your monthly transactions, this can have a big impact on how another lender may view your file. Make sure everything is up to date. Old bills that have been paid can come back to haunt you.
Some financial institutions don’t even report your maximum limits. As such, the credit bureau is left to only use the balance that’s on hand. The problem is, if you consistently charge the same amount each month – say $1,000 to $1,500 – it may appear to the credit-scoring formula that you’re regularly maxing out that card.
You could go on a wild spending spree to raise the limit, but a more sensible solution would simply be to pay your balance down or off before your statement period closes.
When making payments online, do so about a week before the period closing date printed on your latest statement to ensure the payment is received on time – it can take up to five business days for a payment to be received. This won’t raise your reported limit, but it will widen the gap between your limit and your closing balance, which should boost your score.
4) Keep your old cards. Older credit is better credit. If you stop using those older credit cards, the issuers may stop updating your accounts. As such, they will lose their weight in the credit formula and, therefore, may not be as valuable – even though you have had the card for a long time. Use these cards periodically and then pay them off.
5) Don’t let mistakes build up. Dispute any mistakes or situations that may harm your score. If, for instance, your cell phone bill is incorrect and the company will not amend it, you can dispute this by making the credit bureau aware of the situation.
As always, if you want to talk about your credit score or consolidating debt, I’m here to help.
Low-Cost Tips to Get your Home Ready for the Holidays
Low-Cost Tips to Get your Home Ready for the Holidays
It’s that time of the year again and even though getting your home ready for the holidays can seem like a chore, it doesn’t have to be. Fortunately, it doesn’t even have to take up much time or money, either. You can do it in a few easy steps. Just get in the mood to be creative.
Add colour and texture
Simply displaying some richly coloured pillows or throws in any room can give the room a different feel. Choose warm and spicy colors, or maybe something with mirror work to catch the light and add to the glowing effect and sparkle of the holiday season.
Neutrals, metallic and peacock shades are the hot holiday hues of 2008, so don’t feel like you have to stick with the traditional red, green and white schemes.
Artwork, throws and mirrors can also add a new splash to the walls.
Spread some warmth
Changing the shades on your lamps to warm coloured ones can make the light appear richer. By lighting candles in holiday scents – ensuring, of course, they’re displayed in safe areas away from flammable objects – your room can take on a warm glow.
Revamping or creatively using what you already own can also create lush looks in leaner economic times. For instance, filling a clear glass bowl or vase with ornaments of a single bright colour can make for an eye-catching display.
Another trick that makes for a pleasing display that is kind to the wallet involves bringing in some evergreen cuttings and using ribbon or other household items to dress them up. And you can make old wreaths look new by attaching fake berries, sprigs or pine cones.
You can also refresh your old decorations by dressing them up with paint or glitter.
Make it cozy
There’s no better time than the present to get started on your holiday cleaning. If you rid your rooms of clutter, especially those catch-all coffee tables and kitchen counters, your home will seem much more inviting.
Piles of junk mail, unfiled bills and magazines not only look messy, but can also interfere with your cleaning efforts. It’s much easier, and faster, to dust a clear surface than to clean around three months’ worth of the latest decorating magazines and some early Christmas cards.
To eliminate – and prevent – clutter, everything should have a designated space. Magazines, for instance, can be placed in a bin under the coffee table, while children’s art can be stored in a chest or accordion-style folder.
And to encourage an even more inviting atmosphere, think about arranging your furniture in conversation groups. You have to move the furniture anyway in order to get rid of those dust bunnies, so why not try arranging them in a fresh, new manner?
About Dominion Lending Centres Inc.
We are Canada’s premier online mortgage company, and one of the fastest growing mortgage brokerages nationwide!
Our Brokers are Experts in their field and many are ranked among the best nationally.
We work for you, not the lenders, so your best interests will always be our number one priority.
We have more than 100 mortgage programs, making it easy to choose the best fit for your unique situation.
We close loans in all 10 provinces and 3 territories.
We can process your mortgage in as few as 7 days.
We are the preferred mortgage lender for several of Canada’s top companies.
Dominion Lending Centres' Mortgage Experts are available anytime, anywhere, evenings and weekends — we'll even
come to you!
This message sent by: Angela Calla
2189 Austin Ave Coquitlam, BC V3K 3R9 Canada
Forward this message Update your profile Update your subscription
Remove me from this mailing list
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Checked by AVG - http://www.avg.com
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Monthly News & Articles
December 2008 News
Angela Calla
(604) 802-3983
acalla@dominionlending.ca
Website
Dominion Lending Centres
2189 Austin Ave
Coquitlam BC V3K 3R9
Welcome to the December issue of my monthly newsletter!
This month’s edition has a holiday theme to help get you into the spirit of the season. While one article will help you easily boost your credit score, another offers tips on getting your home ready for the holidays in a cost-effective manner. Please let me know if you have any questions or feedback regarding anything outlined below.
Thanks again for your continued support & referrals!
In This Issue
Five Ways to Boost your Credit Score
Low-Cost Tips to Get your Home Ready for the Holidays
About Dominion Lending Centres
Five Ways to Boost your Credit Score
Leading up to the holidays is the perfect time to think about things like improving your credit score and consolidating debt. After all, the holidays are a joyous time that should not be overshadowed by financial woes. And even if your credit score is good, these tips may make it even better. After all, the better your credit score, the fewer hurdles you’ll have to overcome when looking to renew or refinance your existing mortgage, or obtain a new one.
Following are five steps to a speedy credit score boost:
1) Pay down your credit cards. The number one way to increase your score is to pay down your cards to 30% of their limits. Revolving credit like credit cards seems to have a more significant impact on your score than car loans, lines of credit, and so on.
By paying down your cards to 30%, you are leaving a big gap between what your limit is and what you owe – a move that is very favourable to increasing your credit score.
2) Limit the use of your cards. Racking up a large amount and then paying it off in monthly instalments can hurt your credit score. If there is a balance at the end of the month, this affects your score – credit formulas don’t take into account the fact that you paid it all off the next month.
By being more accountable of your spending on a daily or weekly basis through the use of a budget, you can keep those cards below the magic 30% mark.
3) Check your limits. If your lender is slow to report your monthly transactions, this can have a big impact on how another lender may view your file. Make sure everything is up to date. Old bills that have been paid can come back to haunt you.
Some financial institutions don’t even report your maximum limits. As such, the credit bureau is left to only use the balance that’s on hand. The problem is, if you consistently charge the same amount each month – say $1,000 to $1,500 – it may appear to the credit-scoring formula that you’re regularly maxing out that card.
You could go on a wild spending spree to raise the limit, but a more sensible solution would simply be to pay your balance down or off before your statement period closes.
When making payments online, do so about a week before the period closing date printed on your latest statement to ensure the payment is received on time – it can take up to five business days for a payment to be received. This won’t raise your reported limit, but it will widen the gap between your limit and your closing balance, which should boost your score.
4) Keep your old cards. Older credit is better credit. If you stop using those older credit cards, the issuers may stop updating your accounts. As such, they will lose their weight in the credit formula and, therefore, may not be as valuable – even though you have had the card for a long time. Use these cards periodically and then pay them off.
5) Don’t let mistakes build up. Dispute any mistakes or situations that may harm your score. If, for instance, your cell phone bill is incorrect and the company will not amend it, you can dispute this by making the credit bureau aware of the situation.
As always, if you want to talk about your credit score or consolidating debt, I’m here to help.
Low-Cost Tips to Get your Home Ready for the Holidays
Low-Cost Tips to Get your Home Ready for the Holidays
It’s that time of the year again and even though getting your home ready for the holidays can seem like a chore, it doesn’t have to be. Fortunately, it doesn’t even have to take up much time or money, either. You can do it in a few easy steps. Just get in the mood to be creative.
Add colour and texture
Simply displaying some richly coloured pillows or throws in any room can give the room a different feel. Choose warm and spicy colors, or maybe something with mirror work to catch the light and add to the glowing effect and sparkle of the holiday season.
Neutrals, metallic and peacock shades are the hot holiday hues of 2008, so don’t feel like you have to stick with the traditional red, green and white schemes.
Artwork, throws and mirrors can also add a new splash to the walls.
Spread some warmth
Changing the shades on your lamps to warm coloured ones can make the light appear richer. By lighting candles in holiday scents – ensuring, of course, they’re displayed in safe areas away from flammable objects – your room can take on a warm glow.
Revamping or creatively using what you already own can also create lush looks in leaner economic times. For instance, filling a clear glass bowl or vase with ornaments of a single bright colour can make for an eye-catching display.
Another trick that makes for a pleasing display that is kind to the wallet involves bringing in some evergreen cuttings and using ribbon or other household items to dress them up. And you can make old wreaths look new by attaching fake berries, sprigs or pine cones.
You can also refresh your old decorations by dressing them up with paint or glitter.
Make it cozy
There’s no better time than the present to get started on your holiday cleaning. If you rid your rooms of clutter, especially those catch-all coffee tables and kitchen counters, your home will seem much more inviting.
Piles of junk mail, unfiled bills and magazines not only look messy, but can also interfere with your cleaning efforts. It’s much easier, and faster, to dust a clear surface than to clean around three months’ worth of the latest decorating magazines and some early Christmas cards.
To eliminate – and prevent – clutter, everything should have a designated space. Magazines, for instance, can be placed in a bin under the coffee table, while children’s art can be stored in a chest or accordion-style folder.
And to encourage an even more inviting atmosphere, think about arranging your furniture in conversation groups. You have to move the furniture anyway in order to get rid of those dust bunnies, so why not try arranging them in a fresh, new manner?
About Dominion Lending Centres Inc.
We are Canada’s premier online mortgage company, and one of the fastest growing mortgage brokerages nationwide!
Our Brokers are Experts in their field and many are ranked among the best nationally.
We work for you, not the lenders, so your best interests will always be our number one priority.
We have more than 100 mortgage programs, making it easy to choose the best fit for your unique situation.
We close loans in all 10 provinces and 3 territories.
We can process your mortgage in as few as 7 days.
We are the preferred mortgage lender for several of Canada’s top companies.
Dominion Lending Centres' Mortgage Experts are available anytime, anywhere, evenings and weekends — we'll even
come to you!
This message sent by: Angela Calla
2189 Austin Ave Coquitlam, BC V3K 3R9 Canada
Forward this message Update your profile Update your subscription
Remove me from this mailing list
--------------------------------------------------------------------------------
No virus found in this incoming message.
Checked by AVG - http://www.avg.com
Version: 8.0.176 / Virus Database: 270.9.12/1824 - Release Date: 02/12/2008 9:31 AM
--------------------------------------------------------------------------------
No virus found in this incoming message.
Checked by AVG - http://www.avg.com
Version: 8.0.176 / Virus Database: 270.9.12/1824 - Release Date: 02/12/2008 9:31 AM
Wednesday, December 3, 2008
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