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The Canadian Statesman, Bowmanville, Wednesday, February 24,1993 11 Mortgage Credit Growth Increases Three Per Cent in Last Quarter Residential mortgage credit grew 3.0 per cent to $276.3 billion during ' the fourth quarter of 1992, according to a report released today by Canada ! Mortgage and Housing Corporation |CMHC). This brings the total increase increase for 1992 to 9.9 per cent. ;V The fourth quarter figure, which is lhc strongest since the the middle of 4990, compares to an average increase of 2.2 per cent recorded during the first three quarters of 1992. The January issue of CMHC's Mortgage Market Trends reports that mortgage credit is forecast to grow by around 11 per cent this year. "A stronger economic recovery and fairly stable mortgage interest rates will lead to somewhat stronger housing ,markets," said Marc Pellcrin, CMHC's Capital Markets Economist. However, the rate of expansion will remain well below the growth of 17- 18 per cent recorded during the 1987- 1989 period. The moderate increase in mortgage credit will be the result of sluggish growth in both the new and the resale markets along with listless house price appreciations. According to Pellcrin, "The new market in 1993 will reflect diverging trends of single and multiple multiple unit starts. Single unit starts arc expected to increase by 14 per cent while starts of multiple units will drop by about 5 per cent due to lower starts of rental units." In the January issue, representatives representatives of four of Canada's major lenders lenders were invited to express their views on the outlook for the mortgage market market in 1993. The consensus view is for a moderate expansion of mortgage credit concentrated in single housing units. Job uncertainty and high debt levels will prevent the housing market from booming in spite of relatively low interest rates. Improving housing affordability through a longer amortization period is discussed in another article. The use of RRSP funds and 95 per cent mortgages mortgages has helped those having problems problems saving for a downpayment. For those who find large payments a problem, problem, longer amortization periods might help. CMHC accepts amortization periods periods up to 40 years. Higher total payments payments resulting from a longer amortization amortization period could be offset if mortgagors choose, as is often the case, to pay off their mortgage loan faster as household incomes improve. Issues of NHA Mortgage-Backed Securities (MBS) surpassed the $2 billion billion mark for the first time during the fourth quarter of 1992. Lenders took advantage of the NHA MBS program to offer refinancing facilities. One lender lowered the cost of refinancing for mortgages wanting to lock-in their mortgage loan for five years when rates for this term were at 8.50 per cent. cornerstone realty ltd., realtor 104 king st. e., bowmanville 623"6000 428-1206 (Toronto Line) 'Associate Brokers 1 Sales Representatives RE/MAX experience gets results DOUBLE YOUR SERVICE CALL CAROL HALLMAN* OR DIANNE WARREN* Office 623-6000 (24 hr. Pager) Carol Hallman* STARTING OUT OR RETIRING! Check out these lovely mobile '.homes. 1 bedroom cathedral ceilings, ceilings, walkout from living room. $39,900. 2 bedroom large living room with woodstove, Jacuzzi tub in bath. ;Only $44,000. NEARLY NEW! 3 bedrooms, 2 baths, greenhouse kitchen kitchen with walkout. Angelstone fireplace in living room, separate dining room and all for $147,900. DETACHED BRICK ■ Bungalow for the price of a semi. 3 1 bedrooms, finished rec room with woodstove, 3 appliances, for $119,900. Â COURT LOCATION Comes with this 3 + 1 bedroom home. 2 baths, family room with fireplace with Insert, large games room. 16' x 32' inground pool on huge pie-shaped lot. $154,850. For additional information, call Dianne or Carol at 623-6000 (24 hr. pager) or 428-1206 (Tor. Line) Tony Klompmaker* 0R0N0 4 bedrooms, oak staircase, natural mahogany trim, 5 sets of French doors, fireplace and much more. Asking $199,900. Burketon Estates Beautiful wooded 2 acre lot with drilled well and entrance installed. Ideal slope for a walkout. Asking $94,900. HAMPTON 11 acres-with 6 year old bungalow and 40 x 100 newer barn with heat, hydro and water. Ideal for many uses. Asking $299,000. Call Tony Klompmaker** 623-6000 or 263-4448 Doug Humphrey** POWER OF SALE - NEWCASTLE 2284 sq. ft. - 4 bedrooms, 3 bathrooms, main floor laundry and family room with fireplace. Asking $168,900. For further details call Doug Humphrey**, Broker, Member of Remax Hall of Fame - 623-6000 POWER OF SALE. Linda McLennan* 3 bedroom link on huge fully fenced lot. In-law apartment with side entrance. BRING ALL OFFERS. $133,000. Call Linda McLennan* 623-6000 Rod Doris Associate Broker 623-6000 or ONLY $6445 DOWN 1 / 1277sq.ft V3bedrooms 1 987-1832 / Fenced yard / Paved drive ✓ 2 years new / must be sold OPEN HOUSE $128,876. SUN., FEB. 28 2-4 p.m. 12Herriman St., Bowmanville Liberty St. N. to Concession St. Watch for signs. GO FOR IT! Tastefully decorated 3 bedroom raised bungalow in a super, convenient area. Includes all electric light fixtures and window coverings. Just move right in. Priced to sell at $129,900. Steve Lawrence* IPPh James Bush* James or Ellen Bush WHY PAY RENT? Mobile home in rural park - on large lot, monthly payments are actually less than apartment rental. Priced for Quick Sale. $20,000. 4 level backsplit with walk- 0 L„ omonl out basement, decorated to 3 bedrooms, fully finished basement, absolute nerfection Priced Country decor, extra deep lot. $124,900. f 0 sell a?$145fooo. Call Steve Lawrence* 623-6000 (24 hr. pager) or 987-3286 (Res.) A "WELCOME HOME" Approx. 1200 sq. ft., 3 bedroom raised bungalow in new subdivision. Master ensuite, oak kitchen cabinets. A must to see at $129,900. Don't Beat Around the Bush. Ellen Bush** Call James* or Ellen Bush** 623-6000 or 623-8512. POWER OF SALE Edna Hamel* ^44 5^ 1420 sq. ft., north end Bowmanville, pie-shaped, court lot. 3 baths including including 4 pc. ensuite, eat-in kitchen with walkout. Call Edna Hamel* 623-6000 or 623-6273 ONLY FOR THE YOUNG AT Rob Donnelly* HEART MAKE THE GOLDEN YEARS THE BEST YEARS! Enjoy tennis, golf, lawn bowling, swimming, a sauna and more in this beautiful, better-lhan-new Newcastle 2 model. South-facing on a quiet court, the home also boasts a large Florida room and a bright bay window. At $86,500. it is the best deal in Wilmot Creek! Call Rob Donnelly* today at 623-6000 or 623-8960 (Res.) David Passant** COUNTRY LIVING Lovoly sldosplll In quiet hamlet, 3 bedroom up plus a soparalo 2 bodroom Inlaw Inlaw apartment, 2 kltchons, 2 balhs, 2 living rooms, on over 1/4 aero manlcurod lot backing onto farmland, woodburning liroplaco with hoatilators, conlral vac., barn shod. Asking $169,000. For your personal tour call David Passant**, Associate Broker 623-6000 Serving the Durham Region for over 17 years. Paul DeJager* SHOWS TO PERFECTION 2 storey, 3 bedroom detached home shows to perfection with greenhouse kitchen, kitchen, main floor family room, separate dining room and more. A must see $157,900. TRY AN OFFER 3 bedroom, 4 level backsplit, desirable norlhend location. 1 - 4, 1 - 3 pc. balhs, finished family room, eat-in kitchen, private yard and more. $139,500. Call Paul DeJager* 623-6000 or 623-2712 Ron Moore OPEN HOUSE SUNDAY, FEB. 28th 2-4 p.m. 30 Strike Avo., Bowmanville UNBELIEVABLE Fully dolnchod brick bungalow with nltachod gnrago on n 50' lot In qulot residential neighbourhood In Bowmnnvlllo, lonluros 3 bedrooms, 2 balhs, finished roc room, walkout from bnsomonl, oat-ln kitchon. Prlcod ni n must soil prlco Roducod to $132,900. Call now Ron Moore* 623-6000 or 623-9263 M Vlnne Gupta* MUST SELL!! Detached 1650 sq. It,, 3 bedroom homo with main floor family room, 3 balhs and a loi more. Assumable mortgage at 6.75%!! Only $144,900. Call Today! for personal viewing please call Vlnnle Gupta*, 623-6000 24 hr. or 987-1709 (resj George Foddemn* X INCOME INCOME INCOME Triplex - Oshawa - $139,900. Duplex - Newcastle - $129,900. Triplex - Newtonvllle - $159,900. Duplex - Campbellford - $99,900. Slxplex - Campbellford - $199,900. For any further Information Coll George Feddema* at 263-4451 or Romox Cornerstone 623-6000 Wl>t "BEAUTIFUL BEGINNINGS" PREFERRED AREA $139,900. Qns hont. 3 bodroom homo, now onk kitchon, Finished roc room with wood stovo. Control nlr. Call Lana Rickard* 623-6000 or 987-3864 associate broker 623-6000 CALL FOR A FREE APPRAISAL ® Seated Family life is fun in this charmingly restored Century home. PRETTY - smooth white walls against pine floors and oak kitchen. PRACTICAL - Loads of living space - huge main floor family room with fireplace PRIVATE - 80' x 278' lot, mature trees, shrubs, perennials, on a quiet side street. Renovations include plumbing, wiring, high efficiency gas furnace and more! 5711 ÔcAohù&C fëd., Quality 3 bedroom brick bungalow with finished rec room and new high efficiency oil furnace. 75' x 200' lot backing onto trees and fields. $152,000. OPEN HOUSE, SUNDAY, FEB. 28TH -1 p.m. - 3 p.m. Take Ochonski Rd. south off Taunton Rd. - just west of Orono - watch for the signs. '&OCiA*H<ZKlLctte- Lovely brick bungalow, treed, private fenced yard. 3 + 2 bedrooms, 2 balhs, rec room and new vinyl windows. Come and see! $146,900. OPEN HOUSE, SATURDAY, FEB. 27th, 1 p.m. - 3 p.m. Just oil Liberty Street - across from St. Joseph's School - Watch lor the signs. FEATURE HOME Geon- &toH '7t9ut. *7t<w 1 Privacy - room to roam - fish, plant gardons and enjoy life In the country - an easy 30 minute commute from Oshawa. 1 Custom brick bungalow - beautifully maintained and tastefully docoratod throughout. '3 + 2 bedrooms, 3 balhs (maslor bodroom has ensuite) ' Elegant oak and marble liroplaco In living room, cozy woodstovo in bnsomonl. ' Lowor lovol llnlshod will) bright roc room, 2 bedrooms, bath, laundry room and woik room, ' Oversized doubla gnrago with gnrago door oponors and lull double pnvod drivo. ' Very economical to boat will) hont pump. Control nlr and contrai vac riro Included, ' Conveniently located closo to Oshawa Ski Club and Gnnaroskn Conservation area - $215,000. 1 SALLY STAPLES" 623-6000 SALLY STAPLES*' JN