Home Repair, Maintenance and Security Tips

Once you've settled into your new home, you may start seeing things you'd like to change or repair. Maintenance, repair and renovations are a normal part of homeownership. One of the best things you can do is get to know your home. Every adult member of your household should know the location of the following:

• *Main shutoff valves for water, fuel and natural gas
• *Emergency switch for the furnace or burner
• *Hot water heater thermostat
• *Main electrical switch
• *Fuse box or circuit breaker box

Home Improvements Home improvements can make a home more pleasant to live in and may also increase its value. Here are some things to keep in mind:

• *Think about changes that would appeal to someone buying your home in the future
• *Updating the bathrooms and kitchen in an older home can increase its resale value
• *Updating the paint on the outside of your house, installing a new roof, redoing your walkways and driveway, adding attractive mailboxes and landscaping will improve your home's appearance
• *Some renovations can pay for themselves, especially if they result in savings on utility bills, a higher selling price or years of greater comfort and enjoyment in your home
• *Think about improving your home's energy efficiency for comfort and savings

Secure your new investment

• *Change all the locks when you buy a new home
• *Add dead-bolt locks and window locks where necessary
• *Consider getting a security system
• *Use outdoor lighting. You can get lights that automatically turn on every evening or motion-sensor lights that come on when someone walks by
• *When you're away from home, use lights and radios on automatic timers, and arrange to have your mail and newspapers picked up or stopped
• *Get to know your neighbours and keep an eye out for each other

Be prepared and stay safe When you move into a new home, it's always important to:

• *Have a fire evacuation plan and make sure everyone in your home knows how to safely get out of the home from every room
• *Ensure that fire extinguishers are easily accessible at all times (there should be one on each floor)
• *Locate and test the smoke detectors in your home every six months
• *Locate and test the carbon monoxide detectors. They'll detect high levels of carbon monoxide in your home, and can save you from illness or death
• *Make sure that any fire hazards, such as paper, paint, chemicals and other clutter are stored in a safe place
• *Collect your important papers and store them in a safe place
• *Keep a list of emergency numbers close to the phone and make sure your children are familiar with the list

For more information on home renovation, maintenance and safety, visit: www.cmhc.ca. Kupina Mortgage Team | www.kmortgage.ca | www.KupinaMortgage.com

Annual State of the Mortgage Market

Interviews this fall with more than 2,000 Canadians indicate that those holding mortgages are comfortable with their debt, a majority plan to pay off their mortgage in less than 25 years and at least one-third are taking advantage of current low interest rates to accelerate payments, according to the most recent survey report from the Canadian Association of Accredited Mortgage Professionals (CAAMP) released in late November entitled Annual State of the Residential Mortgage Market in Canada. Following are some key statistics revealed in the report:

• *Among all mortgage holders, 65% have fixed-rate mortgages, 28% have variable-rate mortgages and 7% have a combination. For mortgages in 2012, there has been a significant shift to fixed-rate mortgages – 79% are fixed, 10% are variable and 11% are a combination of both.
• *68% of mortgages obtained during 2012 have amortization periods of 25 years or less.
• *32% of mortgage holders are making significant efforts to accelerate repayments, including taking one or more of the following actions in the past year: 16% have voluntarily increased their monthly payments; 15% have made a lump-sum contribution to their mortgage; and 6% have increased their payment frequency.
• *For mortgages that have been repaid since the 1990s, actual repayment periods have generally only taken two-thirds of the contracted periods.
• *Among borrowers who took out a new mortgage in 2012, a record 47% obtained it from a mortgage broker.
• *The average mortgage interest rate is 3.55%, which is lower than last year's average of 3.92%.
• *Among mortgage borrowers who have renewed a mortgage this year, 61% experienced a reduction in their interest rate.
• *The average actual rate for five-year fixed-rate mortgages is 1.85 percentage points lower than typical (posted) rates in 2012.
• *There has been a considerable amount of locking-in (converting from variable rate to fixed rate). Among the 3.85 million *Canadian homeowners with fixed-rate mortgages, 13% locked in during the past 12 months.
• *Of the 9.7 million homeowners in Canada, 5.95 million have mortgages and 3.75 million are mortgage-free.
• *87% of Canadian homeowners have 25% or more home equity.

As always, if you have any questions about the information above or your mortgage in general, I'm here to help! Kupina Mortgage Team | www.kmortgage.ca | www.kupinamortgage.com

Weekly Rate Minder

December 4, 2012: This edition of the Weekly Rate Minder has the latest, best rates for Canadian mortgages. At Dominion Lending Centres, we work on your behalf to find the mortgage that suits your needs. Best of all — our service is free.* It's the selected lender that pays us and YOU get the best rate. Please note that rates shown are subject to change without notice. The rates shown are  posted rates and the actual rate you receive may be different, depending upon your personal financial situation. Check with us for full details and to determine what rate will be available for you.*(O.A.C., E.&O.E.) Explore Mortgage Scenarios with Helpful Calculators at http://www.KupinaMortgage.com

Current Mortgage Rates

Term	Bank rates	Our Rates
6 Month	4.00%	3.95%
1 YEAR	3.00%	2.65%
2 YEARS	3.14%	2.69%
3 YEARS	3.70%	2.79%
4 YEARS	4.64%	2.89%
5 YEARS	5.24%	2.99%
7 YEARS	6.35%	3.69%
10 YEARS	6.75%	3.79%

Rates are subject to change without notice. *OAC E&OE Prime Rate is 3.00% Variable rate mortgage from as low as Prime - 0.30%