Canadian mortgage rules to change

February 16th, 2010

From CBC.ca:

Finance Minister Jim Flaherty has announced new rules aimed at preventing homebuyers from getting in over their heads with mortgage debt.

Finance Minister Jim Flaherty has announced new rules aimed at preventing homebuyers from getting in over their heads with mortgage debt.

Finance Minister Jim Flaherty announced new rules Tuesday aimed at preventing homebuyers from getting into financial difficulty when mortgage rates rise.

After consulting with major Canadian lenders, Flaherty outlined the latest weapons at Ottawa’s disposal aimed at removing some of the speculative froth in the housing market.

“There is no evidence of a housing bubble, but we’re taking prudent steps today to prevent one,” he said at a news conference in Ottawa. “If some lenders aren’t willing to act themselves, we will act.”

Broadly speaking, the plan unveiled has three components.

First, Ottawa will require that all borrowers meet the standards for a five-year fixed-rate mortgage, even if they choose a variable mortgage with a lower rate or a shorter term.

“This will guard against higher rates in the future,” Flaherty said.

Second, the rules would lower the maximum Canadians can withdraw when refinancing their mortgages to 90 per cent of the value of their home, from 95 per cent.

And finally, Ottawa will now require a minimum 20 per cent down payment to qualify for CMHC insurance for non-owner-occupied properties purchased as an investment.

The last rule is aimed at reining in would-be real estate speculators who own multiple properties beyond their primary residence.

“We want to discourage the tendency some people have to use a home as an ATM, or buy three or four condos on speculation,” Flaherty said.

Minimum down payment unchanged

There had been speculation the Department of Finance might implement legislation raising the minimum down payment from five to 10 per cent of a home’s value, or reduce the maximum amortization period from 35 years to 30 years.

Those measures were not part of Flaherty’s announcement Tuesday, but all options are still on the table should circumstances change, Flaherty said.

The adjustments to the mortgage insurance guarantee framework, to be implemented as of April 19, 2010, are not likely to revolutionize the industry. Indeed, a number of large Canadian lenders already practise the first peg of Flaherty’s plan. After Tuesday’s announcement, Bank of Montreal noted that it requires its high-ratio borrowers to be able to qualify using the five-year rate.

“While we do not believe that Canada faces a housing bubble, we fully support the minister’s actions,” the bank said in a release. “Given the prospect of higher interest rates and the recent run-up in housing prices in some markets across Canada, the measures announced today are prudent.”

“This is a little bit late in telling Canadians we need to be more cautious in taking out a mortgage,” Royal Bank chief economist Patricia Croft said in reaction to Flaherty’s announcement.

Though she stopped short of calling Canadian real estate in bubble territory already, she said the April 19 date for implementation is actually likely to cause more short-term stimulation of the market, as people scramble to get in under the deadline.

“If you wanted to buy a house, wouldn’t you now do it before April?” Croft asked. “It’s even more evidence that house prices are going to cool down later this year.”

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Wine accessories gift guide

December 17th, 2009

From Toronto.com:

Photos (from left to right): Alessi Sun Dreams corkscrew, Riedel O Series wine glass, Alessi Anna G. corkscrew, Rosehill Wine Cellars lacquer wine arc and Alessi Banana Boys stoppers.

Photos (from left to right): Alessi Sun Dreams corkscrew, Riedel O Series wine glass, Alessi Anna G. corkscrew, Rosehill Wine Cellars lacquer wine arc and Alessi Banana Boys stoppers.

Find everything you need to wine on your dime in Toronto

From once-in-awhile dabblers to daily drinkers, there are a plethora of accessories out there to help make your wine experiences exactly what you want them to be. Chilling a bottle, popping it open, serving it, drinking it and saving any that remains can be done dozens of ways and there’s a smorgasbord of design-savvy accompaniments. Peruse the lists below to find the perfect wine accoutrements for your particular tastes.

“KEEP IT COOL, BOY”

White wine is best enjoyed chilled. From thermometers to magic stickers, here are a few options for nurturing and monitoring the temperature of your wine.

Wine Bottle Thermometer, Crate and Barrel, $11.95
This stainless steel cuff slides onto a 750 ml bottle as easily as wine slides down your throat. It indicates the optimal chill for a variety of blends, from pinot grigio to pinot noir to rosé, so you know when to grab that bottle from the fridge and get the party — or weeknight unwinding — started.

Eisch Wein-Thermometer, William Ashley, $60
Best known for the innovative, breathable glass, German manufacturer Eisch is renowned for cool wine accessories. This decanter thermometer looks like a giant version of the oral ones, with a design-rich and practical semi-circle at the top. It holds the device in place so the wine can continue to breath.

Rapid Wine Chiller, Crate and Barrel, $12.95
This quilted black sleeve is like a cold compress for wine. Keep it in the freezer overnight so it cools and slide it on the bottle. Within five minutes, wine is chilled and good to go.

Time for Wine Instant Wine Serving Indicator, The Wine Boutique, $4.95
This little kit contains a number of wine temperature sticker indicators. Slap one on a bottle of wine and watch it change as the temperature gets closer to where it’s supposed to be. At under $5, this is a small investment in drinking wine the way it was intended.

Frosted Ice Bucket/Wine Cooler, William Ashley, $139.50
This striking ice bucket looks regal sitting in the middle of a dining room table or atop an elegant stand. The base is a reflective metal and the bowl is made from frosted glass, giving it a beautiful, translucent quality.

“OPEN SESAME”

Whether you want a motor to do all the work or you’re a steady-handed purist, there are an abundance of bottle openers at your disposal. Here are a few options:

Basic Metal Corkscrew, LCBO, $6.95
No frills here. This is as basic as a corkscrew gets, unless you’re willing to try your luck on the old-school plastic tube version. The price is right and this simpleton is fairly fool-proof.

Alessi Corkscrews, William Ashley, $59.50 to $120
For the design enthusiast, it doesn’t get much better than Alessi’s playful winged corkscrews. Modeled after humans, these contraptions stand on their own two “feet.” Some wear dresses, others wear suits, but all are brightly coloured (one even boasts a cloud-patterned suit) yet contemporary, and add a dose of cheer to any get together.

Le Creuset Lever Screwpulls, William Ashley, $100 to $225
These are the golden standard of bottle openers for two reasons. First, they are quite handsome and come in elegant display boxes. Second, pulling the toughest cork is now a breeze. Just push down, pull up and voila — your lips will be purple in no time.

OXO Good Grips Steel CorkPull, William Ashley, $29.95
The corkpull is a different kind of beast. Rather than twisting a coil down into the cork and pulling it up and out, the cork electronically slides up the coil of this solid device. It’s a bit bulky but has a great grip, cuts the foil automatically and removes what stands between you and your wine in no time.

Orly Cool Kitchen Electric Wine Opener, William Ashley, $53
This is the lazy person’s dream: it does all the work. If even the screwpull is too much effort, this bad boy seals the deal. Just hold the opener over the top of the wine bottle, press the button and the cork slides out. It’s sleek, streamlined and fits all bottles.

FULL SERVICE

A crimson merlot or a deep, dark pinot noir are beautifully showcased in crystal decanters, but at the very least, all a wino really needs is a receptacle to drink from. Well, I guess a true wino doesn’t, but you know what I mean. Here are some options for decanters and stem — or stemless — wear:

Riedel Amadeo Decanter, Rosehill Wine Cellars, $380
This u-shaped, lead crystal decanter is a stunner. With such an arresting design the carafe is practically a piece of art. Made from hand-blown glass, no two are exactly the same, which makes Amadeo a very special gift. But, don’t worry — it’s no snob. Fill the decanter with any kind of wine, from cheaper blends to uber-expensive brews, and its no-drip technology saves every drop.

Swoon Carafe, Crate and Barrel, $29.95
Sleek, sensuous and made from hand-blown glass (but conspicuously lacking a terrifying price tag), this attractive decanter looks beautiful perched on any table. Bonus: the angled spout provides for an effortlessly clean pour.

Eisch Breathable Stemware Set of 6, Rosehill Wine Cellars, $135-$159
German manufacturers Eisch have revolutionized the way we drink wine with the creation of breathable stemware. These glasses are made from a lead-free, crystal quality raw material mixture that allows them to open up the flavour and aroma of a wine without decanting. In two to four minutes, the reaction of the wine to oxygen is accelerated and the bouquet develops. Tip: you can also use these glasses to improve spirits, fruit juices and mineral water.

Riedel O Stemless Glasses, Williams-Sonoma, $20 each
These chic glasses, sans stem, are situated at the crossroads of wine and design. Though they have become pretty standard, there’s a reason for their widespread use: they look really cool. Plus, they lack the delicate stems that can so easily break after a few glasses.

Riedel Vitis, Rosehill Wine Cellars, $68 (for a set of two)
If stemless ain’t your thing, these quality Riedel glasses are decadent. They’re each made from one piece of glass with a pulled stem. Not the easiest feat. From cabernet and champagne to sauvignon and shiraz, there’s a size to suit the flavours and complexity of every varietal.

GoVino Shatterproof Tumblers, Rosehill Wine Cellars, $15.50 (for a set of four)
These thermoplastic polymer resin tumblers mimic the look of stemless crystal glasses. They’re made to reflect the wine’s aromatics and colours in much the same way, but are completely unbreakable. A thumb indent makes for an extra firm grip. For outdoor entertaining, picnics and more, it doesn’t get much better than this.

Tortoise Shell Lacquer Wine Arc, Rosehill Wine Cellars, $16.95
The Riedel decanters are gorgeous, but they can cost a pretty penny. Though this wine arc doesn’t decant, it can make wine bottles themselves look like art, as they rest suspended semi-horizontally on the shiny, tortoise shell base.

ODDS AND ENDS

These little accessories make the whole process more enjoyable, less wasteful and, in one case, less destructive.

Wine Out Red Wine Stain Remover, The Wine Butler, $7.99-$13.99
This stain remover works on carpets, clothing, upholstery, vinyl and so on, whether as a pre-wash or an instant spot remover. Best of all, it’s odourless, non-toxic and environmentally safe.

Vinturi Wine Aerator, The Wine Butler, $59
Just like humans, wine must breath in order to reach its full potential. Consider this handy little device the yoga instructor of the wine world, allowing wine to take deep breaths and really open up the flavours and aromas that were intended. When decanting is too time consuming — who really wants to wait for their fix — this little contraption speeds up the process.

Winelines, ROLO, $8.95
Ever leave your drink to fend for itself at a party and return to find red lipstick smeared around the rim? What? You weren’t wearing red lipstick? Exactly. These cheeky little tags that wrap around the stem of a wine glass are both humorous conversation pieces and nonchalant body guards for your bevy. Each one is a different colour and contain phrases like “subtle but noseworthy,” “mild yet not bland,” and “nutty with a kick.”

Alessi Banana Boys Stoppers, ROLO, $55
These bottle stoppers, designed by Alessi, fit in the top of an open, unfinished wine bottle to preserve the wine for days. But what makes them so wonderful is that they are part of a design collaboration with the National Place Museum Taiwan so they’re limited edition. The cheeky monkeys are adorable and poignant in their “see no evil,” “hear no evil” and “speak no evil” poses.

Various Wine Stoppers, William Ashley, $2.50 to $24.50 each
Upscale home and kitchen mecca William Ashley carries a smorgasbord of stoppers at a variety of prices. Classic Chef Gourmet stoppers come in translucent colours and, once placed in the bottle, a tab bends to expand the base for an airtight fit ($2.50). Koziol’s Emily stoppers ($11.95) have vibrant, girly flowers at the top and another version ($19.50) has a translucent, coloured animal atop each plug. Ritzenhoff stoppers ($24.50), which match the Ritzenhoff coasters (see below), cap the top of the bottle to add a dash of elegance to an already open bottle.

Ritzenhoff Stainless Steel Coasters, William Ashley, $37.50
If you don’t have a drip stopper (a sleeve that slips on the top of the bottle to prevent drips), a coaster is another option to catch drips at the bottom. Ritzenhoff’s stainless steel coasters boast colourful enamel plates in chic designs, so wine bottles can perch in style.

Decanter Cleaners, William Ashley, $11.95 to $20
These little metal balls are able to reach the bulbous section of a decanter (unlike human hands), so a little shake around the bottle removes hard-to-reach residue. Riedel’s ($11.95) and Eisch’s ($14.50) come in little jars, while Peugot’s Bilbo ($20) encases the balls within a cleaning mechanism.

LCBO Courses are a great way to dip your toe in the waters of wine appreciation. Four-week sessions boast classes like “Discover Wines of the Old World” ($110), “Discover Wines of the New World” ($110) and “Intro to Wine Appreciation” ($80). Refer to the LCBO’s website for a list of classes and locations.

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Top 10 local wine picks

December 17th, 2009

From Toronto.com:

Wine guru Angela Aiello chooses the top 10 local wines she’d like to find in her stocking this year

Looking for a nice local vino to gift people with this year? Toronto-based wine guru and founder of the iYellow Wine Club Angela Aiello chooses the top 10 local wines she’d like to find in her stocking this year:

Peller Estates Ice Cuvee: It’s one of my absolute favourite sparklings in the entire world.

Wayne Gretzky Shiraz Icewine: Because hockey, ice and wine should always go hand in hand. A great gift, too.

Henry of Pelham Sibling Rivalry White: What else are the holidays for? You might as well drink to it.

Thirty Bench Red: A red I love to decant and savour, but have a hard time sharing.

Creekside Broken Press Shiraz: This one has also been a love of mine for a while. D.e.l.i.c.i.o.u.s.

Niagara College Deans List Chardonnay: Cheers to holiday time off. A warm chard for those cold nights.

Chateau Des Charmes Sauvignon Gris: Canada’s only sauvignon gris. Easy drinking and unique.

Flat Rock Cellars 2008 Pinot Noir: I love, love, love my pinots. My favourite pinot of late.

Vineland Estates Vice: A pre-mixed Vodka Icewine cocktail. Perfect to entertain with and share with good company.

A local wine of the month club: It’s the gift that keeps on giving each and every month.

Many of the wines listed above are available at the iYellowWineStore, at the LCBO or at the wineries.

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Fall home maintenance tips from CMHC

September 24th, 2009

Courtesy of Canada Mortgage and Housing Corporation:

Check windows for damage to caulking or the wood finish.

Take a few minutes each week this fall to perform a few simple tasks, which will help you to avoid the most common — and costly — problems before they occur.

Protect Your Home — and Your Investment!

Your house is more than the place where you live, it’s your home and your most important investment. Carrying out a regular program of maintenance and repairs can help you protect that investment, and help keep your family safe and sound in every season.

In Fall, Canada Mortgage and Housing Corporation suggests you take a few minutes each week to perform the following simple tasks, which will help you to avoid the most common — and costly — problems before they occur. Some of these tasks include:

  • Check and clean or replace your furnace filters on a monthly basis during the heating season.
  • Have your furnace or heating system serviced by a qualified service company (every two years for a gas furnace and every year for an oil furnace).
  • Bleed air from the hot water radiators, and turn the gas furnace pilot light on.
  • Vacuum electric baseboard heaters to remove dust, remove the grilles on forced-air heating systems and vacuum inside the ducts.
  • If you have a heat recovery ventilator (HRV), clean the outside air intake grill, the filters inside the unit, and the core, and pour water down the condensate drain to test it.
  • Have well water tested for quality.
  • Check the sump pump and line to ensure proper operation. There should be no line obstructions or visible leaks.
  • If you have a septic tank, measure the sludge and scum to determine if it needs to be emptied before spring. Tanks should be pumped out at least once every three years.
  • Replace window screens with storm windows, and ensure all windows, doors and skylights shut tightly, including the door between your house and garage.
  • Ensure that the ground around your home slopes away from the foundation wall to prevent water from draining into the basement.
  • Clean leaves from eavestroughs and downspouts to ensure proper drainage from the roof, and check chimneys for nests or other obstructions.
  • Cover the outside of air conditioners, and drain and store outdoor hoses. Close the valve to the outdoor hose connection, and drain the faucet (unless it is frost proof).
  • Winterize landscaping by storing outdoor furniture, preparing gardens and, if necessary, protecting young trees or bushes for winter.

For more information or a free copy of the “About Your House” fact sheet Home Maintenance Schedule or for information on any other aspect of owning, maintaining or buying a home, visit our Web site at www.cmhc.ca or call CMHC at 1-800-668-2642. Canada Mortgage and Housing Corporation (CMHC) is Canada’s national housing agency and a source of objective, reliable housing expertise.

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Canada’s ‘greenest condo’ coming to Milton

September 14th, 2009

From the Milton Canadian Champion:

Del Ridge Homes plans to build a condominium with a negative carbon footprint at Main and Ontario Streets in Milton.

Del Ridge Homes plans to build a condominium with a negative carbon footprint at Main and Ontario Streets in Milton.

A well-known local developer is proposing to build what his company calls “Canada’s greenest condominium” on Main Street just east of downtown.

Dubbed GreenLife, the six-storey, 150-unit condominium will strive for a negative carbon footprint assisted by using one of the largest solar power arrays in eastern Canada, said developer Dave de Sylva, owner of Del Ridge Homes.

A carbon footprint is a measurement of greenhouse gases produced in units of tonnes or kilograms of carbon dioxide equivalent, according to the website www.carbonfootprint.com.

If approved by the Town, the project will be built on a three-acre location behind Brunello’s restaurant at the northwest corner of Main and Ontario Streets, said de Sylva. A billboard is already at the location highlighting the development and advertising unit prices starting at $189,900.

Continue reading the article

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Retro decor returns with a modern twist

July 14th, 2009

From YourHome.ca:

Karen Sealy, suggests using elements from that era in small doses, or in affordable accessories, to avoid going overboard on retro. For example, she bought a furry shag rug to place in front of her own fireplace for a fun 70s vibe. “But I didn’t spend a lot on it,” she said, “because I know it’s a look that I’ll tire of and want to replace.When it comes to colour from the era, she advises against trying to replicate it, but instead using it for inspiration. The orange shown in the pic echoes the burnt orange that was popular in the mid-seventies, but its got a fresher, brighter tint that works better now.

Karen Sealy, a regular on CityLine, suggests using elements from a bygone era in small doses, or in affordable accessories, to avoid going overboard on retro. The orange shown in the photo above echoes the burnt orange that was popular in the mid-seventies, but it's got a fresher, brighter tint that works better now.

It’s often portrayed as fickle, but home decor fashion is better described as cyclical. Every few years, a new generation discovers and falls in love with beautifully detailed toiles or the streamlined perfection of a Georg Jensen candlestick. That’s because great design is timeless, says Karen Sealy (sealydesigninc.com), a regular expert on Citytv’s CityLine.

“Good design happens when form meets function, and that will always endure,” explains Sealy.

Damask, she says, is an example of a design that proves itself endlessly adaptable. The most recent incarnation I’ve seen is a damask pillow from Pier 1 Imports, in rich red and royal blue with beaded trim, which sells for $50.

Homeowners are now more likely to blend elements from various eras than stick rigidly to a specific style, such as French country, says Frank Turco, manager of colour, trend and design for Home Depot Canada. That’s why his company identified a heritage look as one of three corporate design themes (the others: eclectic and contemporary).

“It’s fairly traditional, but it’s updated with modern elements and it works because it lets people find inspiration in pieces they already have,” says Turco.

The look is suited to recessionary times, says Turco. “You can update a room by making one or two small changes,” he says. “For example, if you have great kitchen cabinets with glass doors, you could line the backs with a traditional wallpaper in a really current colour.”

Sealy thinks a recent swing toward ’70s-inspired design is partly rooted in boomer reaction to unsettled times.

“Back then, we hung out in our rec rooms and played Monopoly. Now that the world isn’t as safe, we want to nest and be reminded of times that were more comfortable,” she says.

Sealy introduced design elements from that era into a room she put together to promote Hershey’s Chocolate, which has just been reformulated for the Canadian market. The warm chocolate-brown was enlivened by retro leather pouffes from Elte. These seating cushions ($2,495 each!) come in a vibrant turquoise and an orange that’s brighter and lighter than the ubiquitous burnt orange that ruled in the mid-’70s. She also added an arc lamp from Elte ($895), a fresh take on a look that began showing up in ’60s living rooms

Even makers of decorative hardware recognize the trend toward eclectic design that embraces several eras. Stanley Home Design, which makes wall plates, knobs, pulls and coat and hat hooks, offers a “transitional” style, with global and regional influences. This season, Stanley has also added two new finishes that reflect the trend toward warmer metals – Egyptian bronze and satin nickel. At about $6 for a two-pack and $19.97 for 10, these accessories are an affordable way to update a look.

While the diagonal squares of wood flooring known as parquetry have been making the design rounds since the 1600s, many homeowners will remember it as an over-used staple of the 1980s. The popularity of parquet sank in the ’90s. It’s back again, although new parquet floors will more typically come in 16-by-16-inch squares, rather than the older eight-by-eight-inch pieces. If you don’t want to replace existing parquet, Turco and Sealy suggest staining it a medium brown to update the look.

Turco points out the look of worn wood that references earlier times is also big. At its recent fall 2009 product preview, Home Depot showed five-inch engineered plank flooring in an antique distressed finish. This product is not yet on store shelves, and prices aren’t yet set.

Circa 1940 Hollywood glam is also gaining strength, a look is exemplified by round back chairs with images of Audrey Hepburn or Marilyn Monroe silk-screened on glossy white vinyl on sale for $349 at the newly-reopened location of A Special Place. Without the images, the chair also comes in a zingy pink and orange.

The lowly kitchen apron has – and always will be – useful, as any hostess who has dribbled gravy down her dress just before serving a meal knows. Perhaps that’s why aprons and dish gloves with a ’50s vibe are making a comeback.

Local company Artz-Axentz distributes wonderful aprons and gloves with frilled and pleated cuffs (a practical feature, as it means you can plunge your hands into the sink without wetting your arms or your sleeves). Go to artz-axentz.com or call 1-800-713-2949 for the nearest retailer. You’ll also find aprons from Kitsch’n Glam for $40 on wheredidyougetthat.ca.

Kitchen goddesses and feminists of all ages may be especially drawn to the design called Minerva’s Owl. (Minerva was the Roman version of the Greek goddess Athena, better known for war craft than her culinary accomplishments, which just goes to show that feisty broads never go out of style.)

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Home Maintenance Tips for Summer

July 14th, 2009

Courtesy of Canada Mortgage and Housing Corporation:

Check windows for damage to caulking or the wood finish.

Check windows for damage to caulking or the wood finish.

Protect Your Home — and Your Investment!

If you’re like most Canadians, your home is probably your most important investment. A regular schedule of maintenance and repairs can help you protect that investment — and keep your family healthy and safe and sound — for years to come.

Canada Mortgage and Housing Corporation (CMHC) has a checklist of simple inspections and repairs that can help you put a stop to the most common and costly problems before they occur, often in as little as a few minutes a week, including:

  • Check and clean your range hood filters on a monthly basis.
  • Use a dehumidifier if necessary to keep the relative humidity level in your basement at or below 60 per cent.
  • Check basement pipes for condensation or dripping, and take corrective action if needed.
  • Refill the basement floor drain if the trap doesn’t have enough water in it.
  • Run water briefly in fixtures that aren’t used frequently, such as the laundry tub or spare bathroom sink, tub or shower.
  • Deep clean carpets and rugs, and vacuum the bathroom fan grille.
  • Disconnect the duct connected to your clothes dryer and vacuum lint from the duct, the areas surrounding the dryer and the vent hood outside.
  • Check all windows, door hinges and garage door opener hardware for smooth operation, and lubricate as required.
  • Replace damaged caulking and weatherstripping around windows and doorways, including the doorway between the garage and the house.
  • Inspect electrical service lines for secure attachment where they enter the house, and make sure no water is leaking into your home along the electrical conduit.
  • Check the exterior wood siding and clean, replace or refinish it as needed.
  • Seal off any holes in the exterior cladding that could become entry points for pests.
  • Check your roof for sagging or damaged shingles, and examine all roof flashings at chimney and roof joints for signs of cracks or leaks.
  • Inspect and sweep chimneys connected to any woodburning appliance or fireplace.
  • Repair the driveway and walkways if needed, and repair any damaged steps, guardrails or handrails that could pose a safety problem.

For more information or a free copy of the “About Your House” fact sheet Home Maintenance Schedule and other fact sheets on owning, maintaining or renovating your home, ask CMHC at 1-800-668-2642 or visit our Web site at www.cmhc.ca. For over 60 years, Canada Mortgage and Housing Corporation (CMHC) has been Canada’s national housing agency, and a source of objective, reliable housing expertise.

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