Something different for today, an easy thing to bake while you are at home, checking out mortgage information :)   Watch for your copies in the mail :)


BANNANA NUT BREAD

 

Ingredients:

6 Tablespoons unsalted butter, at room temperature, plus extra for greasing

1 cup sugar

2 or 3 very ripe bannanas, mashed

3 large eggs, slightly beaten, room temperature

1/2 cup buttermilk, room temperature

1 small container unsweetened apple sauce

2 cups all-purpose flour (plain)

1 teaspoon baking soda

1 teaspoon baking powder

1 teaspoon nutmeg

1/2 teaspoon salt

3/4 cup coarsely chopped walnuts, pecans or hazelnuts  (you do not have to add this)

 

 

Directions:

Preheat the oven to 350F. Grease and lightly flour a 9-by-5" loaf pan.

In a heavy mixer fitted with the paddle attachment, beat together the butter and sugar on med speed until creamy, about 1 min. Add the bananas and eggs and beat until smooth. Add the buttermilk and beat just until combined.

In a bowl, stir together the flour, baking soda, baking powder, nutmeg, salt and nuts. Add the dry ingredients to the banana mixture and beat just until combined. The batter should be slightly lumpy. Scrape down the sides of the bowl.

Pour the batter into the prepared pan. It should be no more than 2/3 full. Bake until the load is dark golden brown and dry to the touch and the edges pull away from the pan sides, 55-60 minutes. A toothpick inserted into the middle should come out clean Let rest int he pan for about minutes, then turn out onto a we rack and let cool completely.

Cut into slices and serve. The bread will also freeze if you have made smaller loafs.

 

 

This is a good read from the GLOBE and MAIL.....
Makes the 10 year rate hold really attractive, not like at the moment at 3.89% you would need it to be any more attractive....

Preet Banerjee

How would an interest rate increase to 2.25% affect you?

PREET BANERJEE | Columnist profile | E-mail

From Tuesday's Globe and Mail

Published Wednesday, May. 30, 2012 6:00AM EDT

Last updated Wednesday, May. 30, 2012 9:34AM EDT

Could your household withstand a 125-per-cent increase in interest rates? It’s a question you should look beyond averages to answer, as it could mean the difference between living the homeowner’s dream and having that dream turn into a cash-flow nightmare.
The Organization for Economic Co-operation and Development recently suggested that Bank of Canada governor Mark Carney should raise interest rates by 0.25 per cent for five consecutive quarters starting this fall. The rationale was that these laddered increases would head off rising inflation as well as help to cool the country’s housing bubble.
The headline interest rate is 1 per cent, so an increase to 2.25 per cent is a relative 125-per-cent increase in rates.
But as we continue to peel back the unending layers of problems in Europe, the increasingly bleak global plight makes that easier said than done. Despite the OECD’s eloquent report, predicting interest rates is nearly impossible because the decision factors are constantly changing.
That being said, it’s prudent to plan for the worst and hope for the best. So what would such a hike mean to the average Canadian?
Well, in the end, using averages might not make too much sense. The only way to see how it will affect your own household cash-flow situation is to run some simple numbers. For those who have their debt under control, a schedule of rate increases as dramatic as suggested here won’t be much of a stretch. For others, it could get ugly.
Human Resources and Skills Development Canada reported that the median, after-tax income for couples with children was $75,600 in 2009. Incomes haven’t grown much since then. If you apply a statistic that has been getting some headline news lately – the total debt-to-household-income ratio, which stands at roughly 150 per cent – that means the average couple might be looking at $113,400 in total debt.
The bulk of that might be in the mortgage, with some line-of-credit and credit-card debt thrown in for bad measure. (Sorry, I couldn’t use “credit-card debt” and “good” in the same sentence.) Crudely, if their overall interest costs were 7 per cent, maintaining that debt would cost roughly $7,938 a year. The mortgage might be cheaper than 7 per cent, but the credit cards could be north of 20 per cent, remember.
If that 7-per-cent average interest rate were to increase to 8.25 per cent, the cost to carry $113,400 increases to $9,355.50. That’s a difference of $1,417.50 a year, but most people think in terms of monthly payments. In that case, it’s an extra $118.13 a month.
If you have a fixed-rate mortgage, you won’t see a change in payments until your term is up. So you might have some more breathing room on that front (although you’ll feel it when it comes time for renewal).
Let’s be frank: I don’t know many people my age with a household income of essentially $100,000 a year who have less than $250,000 outstanding on their mortgage. Averages really don’t give you a good idea of how this will unfold for your situation. You have to work through your numbers yourself to get a handle on it.
Take this scenario of a young urban professional couple who make $125,000 a year and recently bought a $420,000 condo with a small down payment a few years ago. Let’s say they have a mortgage of $380,000, fixed at 4.2 per cent with their term ending at the end of next year. They also have $7,500 in credit-card debt at 18.8 per cent that they can never seem to pay off.
An interest-rate increase of 1.25 percentage points, and a letter from their credit-card company indicating that its rate is going up to 21.5 per cent means they are looking at an increase in payments of about $3,278.40 a year by the time they renew their mortgage for the next term.
The lesson here: Even if you consider yourself in an “average” situation, the devil can be hiding in the details.
A snapshot of a couple that doesn’t fit the “average”
Starting in 2012
$380,000 mortgage @ 4.2 per cent, with a 27-year amortization left, and two years until the current term expires. Monthly payment = $1,954.93
$7,500 in credit-card debt @ 18.8 per cent interest. This balance hovers at the same level over time. Monthly interest cost = $117.50.
Total = $2,072.43
2014, time to renew the mortgage
The couple still have about $364,000 remaining. To maintain the same target date for paying it off, they now have a 25-year amortization, but the best fixed rate they can get is 5.45 per cent. Monthly payment = $2,211.25.
The credit-card company increased the rate its charges to 21.5 per cent. The couple still isn’t able to pay it down. Monthly interest cost = $134.38
Total = $2,345.63
Difference = +$273.20 a month, or $3,278.40 a year.
Preet Banerjee, B.Sc, FMA, DMS, FCSI, is a W Network Money Expert, and blogs at wheredoesallmymoneygo.com. You can also follow him on twitter at @PreetBanerjee

Mono-lines play David to banks' Goliath - Mortgage Broker News

By Vernon Clement Jones | 28/05/2012

It may be another case of David kicking Goliath’s butt, with mono-lines now taking back some of the business brokers were prepared to send to the banks, according to the latest quarterly report from D+H.
While banks still claimed the single-largest share of broker business in the first quarter, that 48.2 per cent cut represents an eight-percentage-point slide from the year-ago period when they claimed 56.5 per cent of the consolidated volume.
For mono-lines, the story is the reverse, with “mortgage banks” growing their market share to 36.4 per cent from the 26.7 per cent in Q1 2011. The quarter-over-quarter jump was also impressive, representing a gain of nearly four percentage points.
The changing fortunes represent real progress for mono-lines increasingly pressured to step up their game in the fight to stem broker flight to the banks.
Street, alone, is being credited for leading the mono-lines into battle. It effectively doubled its percentage share of broker originations in the first quarter compared to a year earlier.
In the process, it gained third spot by volume, just after Scotia and, another mono-line, First National.
Still, brokers continue to look for non-bank lenders to address key concerns around service and product.
Below is a list of the Top Five improvements, brokers tell MortgageBrokerNews.ca their mono-lines need to make to make further inroads into bank territory. It ran on the website earlier this month.
1.    Marketing meltdown:  Mono-lines just have to do a better job of telling consumers who they are, say brokers.
“Oftentimes a considerable part of the consultation/sales process is having the consumer become familiar with a brand they may have never heard of,” says Scott Bentley, with Verico Premiere Mortgage in Halifax. “Many request 'a Big Bank' simply because that is who they know, even if rates, terms, privileges and prepayment penalty policies are not as favourable as the mono-line.”
2.    Paperwork problems: Quite simply, many mono-lines have onerous, time-consuming instructing documents, complain brokers. Some real estate lawyers agree, arguing the banks have them beat in terms of fewer specific requirements.

“I have had complaints from lawyers that the paperwork for monoline and non-bank lenders took more time,” said Mike Missere, a mortgage agent with Mortgage Intelligence in Thunder Bay, Ont. “I was able to stop that, but from my standpoint I have to field more queries from the lawyers about the legal paperwork when the lender’s not one of the chartered banks.”
3.    Rascally rate premiums: Applied to BFS and rental deals, they somethings stick in the craws of clients and brokers, alike. Mono-lines attach those extra bps for a good reason, although the fact banks don’t presents a challenge.
4.    Forgetting to share: Several mono-lines do a good job of sharing the client with the broker by mentioning them in correspondence with the borrower. But some drop the ball here, say brokers.
“I’m talking about mentioning the broker by name in correspondence with the client, reinforcing the idea, in the client’s mind, that the lender and the broker are partners,” said Mauro DiCosola, with Dominion Lending Centres Mortgage Village in Mississauga. "Some mono-lines do this already and the others should follow that lead."

5.    Confounding conditions: Brokers frequently complain about the conditions mono-lines place on their deals and the extra legwork required of clients. That just makes it easier for the banks to snag them after commitment letters have been dispatched.
“My biggest beef is around conditions,” says Paul Mangion, with MCC in Mississauga, “We need more reasonable conditions and common sense here since we lose deals to branches when we send clients in there for more info or to ask for too much unnecessary documentation.”






Mono-lines play David to banks' Goliath - Mortgage Broker News

Report calls on central bank to start hiking interest rates

Report calls on central bank to start hiking interest rates

 

GDP expected to rise 2.25% this year: OECD

 

By Julia Johnson, Financial Post May 23, 2012 8:43 AM

Read more: http://www.calgaryherald.com/business/Report%20calls%20on%20central%20bank%20to%20start%20hiking%20interest%20rates/6664026/story.html#ixzz1viDrT8E6

New economic projections show the global economy is growing, albeit slowly, lifted by a resurgence in trade and market confidence, but stymied by the euro crisis that has deepened since a temporary easing in late 2011.
Canada, Japan and the United States are growing faster than the euro countries, while emerging markets experience a "moderate cyclical upswing," according to the Economic Outlook published Tuesday by the Organization for Economic Co-operation and Development.
Canada's GDP is expected to grow 2.25 per cent this year and 2.5 per cent in 2013, according to the report, driven by private consumption and investment.
"It's not a great outcome. A generation ago, coming out of a recession like this, we would have thought this was deplorable, but it's not bad," said Peter Jarrett, a senior economist with Paris-based OECD.
Canada's growth will outpace the OECD index of 34 countries, which is expected to be 1.6 per cent in 2012 and 2.2 per cent in 2013.
Meanwhile, OECD stressed the crisis in the eurozone remains the most severe risk facing the global outlook.
Although unemployment rates in Canada and the United States have recently trended downward, the euro area's jobless rate has risen since 2011 and is expected to hover around 11 per cent through 2013. Further, market confidence is rising in the U.S. but falling in Europe.
Heading into an EU summit in Brussels this week, the OECD urged leaders to take immediate action to avoid a deepening of the euro crisis and spillover effects. It called for balanced fiscal consolidation paced according to sovereign needs.
Assuming the eurozone "muddles through" its crisis, avoiding a Greek exit, Jarrett said OECD thinks the Bank of Canada needs to start raising interest rates in the fall to avoid speedy inflation that will follow economic growth.
"In order to head off that eventuality, we assume that beginning in the fourth quarter the bank would move at a rate of a quarter of a point per quarter, bringing us to a rate of about 2.25 per cent by end of 2013," Jarrett said.
The OECD report flagged Canada's housing sector as imbalanced and noted a rate hike is also needed to slow down housing prices.

© The Financial Post

Read more: http://www.calgaryherald.com/business/Report%20calls%20on%20central%20bank%20to%20start%20hiking%20interest%20rates/6664026/story.html#ixzz1viDmPwPR

The Mortgage Group Canada Inc. - British Columbia - News Articles

Real Estate: Be ready for "what if's" at home

Mary Gooderham - Globe and Mail Update

Thursday, March 01, 2012

Keeping up with mortgage payments is an important part of home ownership, in addition to property taxes, insurance and maintenance. But what happens if your roof suddenly needs replacing, the foundation springs a big leak or the furnace gives out in the middle of a cold snap? Your mortgage can be structured to deal with such unexpected home expenses. You can also borrow against the equity in your property or take out insurance to deal with mechanical failures. "Planning for 'what ifs' is critical," says David Cole, an RBC mortgage specialist in Burnaby, B.C. He adds that mortgages are an especially important area of financial planning, given that houses present significant expenses as well as assets, and much can go wrong with them. "The last thing you want is to have a home be an anchor for you." A roof collapse from an overload of snow or a toppled tree might be covered by homeowner's insurance. However, anything that falls under the category of maintenance, however significant, is your responsibility to absorb. Many homeowners faced with major repairs or improvements opt for a home equity line of credit, which allows them to borrow against the equity in their home. Such loans have no carrying costs or fees, are flexible in terms of what they can be used for and carry relatively low interest. The RBC Homeline Plan, for example, is set at prime plus half a per cent. A home-secured loan is available only to those with at least a 20-per-cent down payment or 20 per cent equity in their property, meaning the total amount borrowed cannot rise above 80 per cent of its value. If your home equity is less than 20 per cent you may need to refinance, which brings additional costs including setup and legal fees for re-registration and mortgage loan insurance. Borrowers also could apply for an unsecured loan or line of credit, at a higher interest rate. Mark Kerzner, president of TMG The Mortgage Group Inc., a national mortgage brokerage, says that on average, one third of funds borrowed when mortgages are refinanced is spent on home repairs and renovations. One reason people need to refinance is because they end up getting in over their heads, Mr. Kerzner says. The total debt-service ratio, a combination of the payments on your mortgage and all of your other debt, should not exceed 40 per cent of your gross income, he says. If you have costly repairs, most mortgages allow you to skip a monthly payment once or twice in order to free up cash, although Mr. Kerzner notes that this adds to the principle outstanding. You can also reamortize so that your payments are reduced. This can provide wiggle room when times are tight, Mr. Cole says, but will lengthen the term of the mortgage. Home buyers can protect themselves against costly repairs with a thorough home inspection. "It's key to know what's coming down the pipe," Mr. Cole explains. "Make sure you don't have a sinkhole." If you think you may have extraordinary costs ahead, your mortgage adviser may help you work out a bigger loan, holding some funds in reserve in anticipation of extra costs. Mark Salerno, a corporate representative for the Canada Mortgage and Housing Corp. , says that if you have a sense prior to closing that major repairs will be required, one option is a "CMHC Improvement" program. This allows lenders to offer greater financing choices to borrowers who plan to undertake small- or large-scale improvements that will ultimately increase the value of the property. When the home inspection is performed, ensure that you're in the home so you can "see it through the expert's eyes," he recommends. "It can be hard to know what the words on the page mean." Once you move in, keep up with general maintenance and ensure everything is in good working order, says Tim Bzowey, the vice-president of home and auto for RBC Insurance. Homeowner's insurance will pay for unforeseen disasters, but there's "a threshold of reasonableness and judgment involved," he says. For example, a roof collapse preceded by leaking and water damage won't be covered. "It's about being prudent and using some common sense." Mortgagors insist that homeowners have the right insurance in place, covering all buildings, contents and liability, Mr. Bzowey says. Review your insurance coverage annually, keep a list of your home's contents off-site and update values. Mortgage insurance is available, although most policies are a form of life or disability coverage and apply only in the event of a death, job loss or critical illness. Some lenders or manufacturers may provide warranties or niche insurance products on specific mechanical equipment in the home. But these often require annual inspections and maintenance of the furnace or hot water tank in question, at a price, and can come with hefty premiums.   source:www.theglobeandmail.com

Why Does a High Ratio Mortgage Get a Better Rate?

This is interesting & we are starting to see more and more of this.....  Click the link or read below.

The Mortgage Group Canada Inc. - British Columbia - News Articles

Wednesday, May 23, 2012

The news about  getting better mortgage rates with a lower down payment has been in the news recently -- if you have a down payment of only 5% and your credit is good, then you could get a rate up to 20 basis points better than if you had a higher down payment. For example, instead of 3.59% on a 5-yr fixed rate you could pay 3.39%. It may seem counter intuitive and just plain unfair if you're sitting with the higher down payment, but there is method to this interest rate madness. It comes down to two things: insured risk and capital. Let's face it, bank lenders like sure things and try to reduce their risk as much as possible. When a mortgage is insured, which is the case in high-ratio or low down payment mortgages; it requires the bank to hold less capital against it. Since there is a cost to capital -- both a direct cost as well as an indirect cost, lenders want to apply capital to the areas that will yield the highest return. So, less capital equals less cost, which translates into better rates for insured mortgages. The high-ratio risk is transferred through default insurance from the lender to the insurer. This, despite the fact there may be less risk from clients with more equity. "It's a conundrum of default insurance," explains Grant MacKenzie, CEO of Canadiana Financial Corp. "Sometimes the toughest credit profile gets the best rates." Until recently, some low ratio mortgages were bulk insured by Canada Housing and Mortgage Corporation (CMHC) but when its insurance cap of $600 billion dollars hit $541 billion dollars, it became more difficult to continue to offer portfolio insurance. "All Mortgages that are not on a lenders balance sheet - are usually securitized. In Canada, one way we do that is through the Canada Mortgage Bond (CMB)," MacKenzie said. "Lenders have been paying the insurance premium on low-ratio mortgages as it was necessary to securitize them and, lenders can decide whether to add a premium to the rate to cover the increased costs." "Also, lenders need a balanced portfolio of purchases, refis, Alt-As and rental mortgages," MacKenzie added. "So a premium applied to rates on certain products can effectively speed up or slow down the volume of that mortgage product." For now, big lenders will likely cover the increased costs with no direct effect on the consumer said John Bordignon, Executive Vice-President of Strategic Development for Paradigm Quest. "Most big banks have stayed away from adding a premium but it will be a big deal over time," he said. "Lenders will eventually want a higher spread and that will be passed on to the consumer." Bordignon also said that some deals may be harder to fund because of the increase in costs. "All insurers have dollar limits, so it's up to them to decide which products to insure. Since limits have been reduced, money becomes scarcer, which drums up the costs." However, competition between banks and lenders has kept the interest rates consistent between high and low ratio mortgages, but some monoline lenders have added a rate premium to its conventional business. The industry has already seen premiums added to stated income products. A few bank lenders added the premium then removed them, opting to cover the spread themselves and for very good reasons. Those with large equity positions are potential customers for other business such as lines-of credit, TFSA's, and RRSPs. "As time progresses, lenders will want to cover those increased costs and we'll likely see consistency in all rates across all lenders," Bordignon said. "The entire market will move that way and costs will be passed onto the consumer, but camouflaged in slightly higher rates."

HOME MAINTENANCE SCHEDULE

Again from the CMHC website, I loved this checklist! :)

http://www.cmhc-schl.gc.ca/en/co/maho/gemare/gemare_003.cfm

Regular Maintenance is the Key

Inspecting your home on a regular basis and following good maintenance practices are the best way to protect your investment in your home. Whether you take care of a few tasks at a time or several all at once, it is important to get into the habit of doing them. Establish a routine for yourself, and you will find the work is easy to accomplish and not very time-consuming. A regular schedule of seasonal maintenance can put a stop to the most common — and costly — problems, before they occur. If necessary, use a camera to take pictures of anything you might want to share with an expert for advice or to monitor or remind you of a situation later.
By following the information noted here, you will learn about protecting your investment and how to help keep your home a safe and healthy place to live.
If you do not feel comfortable performing some of the home maintenance tasks listed below, or do not have the necessary equipment, for example a ladder, you may want to consider hiring a qualified handyperson to help you.

Seasonal Home Maintenance

Most home maintenance activities are seasonal. Fall is the time to get your home ready for the coming winter, which can be the most gruelling season for your home. During winter months, it is important to follow routine maintenance procedures, by checking your home carefully for any problems that may arise and taking corrective action as soon as possible. Spring is the time to assess winter damage, start repairs and prepare for warmer months. Over the summer, there are a number of indoor and outdoor maintenance tasks to look after, such as repairing walkways and steps, painting and checking your chimney and roof.
While most maintenance is seasonal, there are some things you should do on a frequent basis year-round:

	Make sure air vents indoors and outdoors (intake, exhaust and forced air) are not blocked by snow or debris.
	Check and clean range hood filters on a monthly basis.
	Test ground fault circuit interrupter(s) on electrical outlets monthly by pushing the test button, which should then cause the reset button to pop up.
	If there are young children in the house, make sure electrical outlets are equipped with safety plugs.
	Regularly check the house for safety hazards, such as a loose handrail, lifting or buckling flooring, inoperative smoke detectors, and so on.

Timing of the seasons varies not only from one area of Canada to another but also from year to year in a given area. For this reason, we have not identified the months for each season. The maintenance schedule presented here is, instead, a general guide for you to follow. The actual timing is left for you to decide, and you may want to further divide the list of items for each season into months.

Fall

	Have furnace or heating system serviced by a qualified service company every two years for a gas furnace, and every year for an oil furnace, or as recommended by the manufacturer.
	If you have central air conditioning, make sure the drain pan under the cooling coil mounted in the furnace plenum is draining properly and is clean.
	Lubricate circulating pump on hot water heating system.
	Bleed air from hot water radiators.
	Disconnect the power to the furnace and examine the forced-air furnace fan belt, if installed, for wear, looseness or noise; clean fan blades of any dirt buildup.
	Check chimneys for obstructions such as nests.
	Vacuum electric baseboard heaters to remove dust.
	Remove the grilles on forced-air systems and vacuum inside the ducts.
	Turn ON gas furnace pilot light (if your furnace has one), set the thermostat to “heat” and test the furnace for proper operation by raising the thermostat setting until the furnace starts to operate. Once you have confirmed proper operation, return the thermostat to the desired setting.
	Check and clean or replace furnace air filters each month during the heating season. Ventilation system, such as heat recovery ventilator, filters should be checked every two months.
	Check to see that the ductwork leading to and from the heat recovery ventilator is in good shape, the joints are tightly sealed (aluminum tape or mastic) and any duct insulation and plastic duct wrap is free of tears and holes.
	If the heat recovery ventilator has been shut off for the summer, clean the filters and the core, and pour water down the condensate drain to test it.
	Check to see that bathroom exhaust fans and range hoods are operating properly. If possible, confirm that you are getting good airflow by observing the outside vent hood (the exterior damper should be held open by the airflow). See the About Your House fact sheet CMHC Garbage Bag Airflow Test for a simple way to estimate the airflow.
	Check smoke, carbon monoxide and security alarms, and replace batteries.
	Clean portable humidifier, if one is used.
	Check sump pump and line to ensure proper operation, and to ascertain that there are no line obstructions or visible leaks.
	Replace window screens with storm windows.
	Remove interior insect screens from windows to allow air from the heating system to keep condensation off window glass and to allow more free solar energy into your home.
	Ensure windows and skylights close tightly; repair or replace weatherstripping, as needed.
	Ensure all doors to the outside shut tightly, and check other doors for ease of use. Replace door weatherstripping if required.
	If there is a door between your house and the garage, check the adjustment of the self-closing device to ensure it closes the door completely.
	Cover outside of air-conditioning units and shut off power.
	Ensure that the ground around your home slopes away from the foundation wall, so that water does not drain into your basement.
	Clean leaves from eavestroughs and roof, and test downspouts to ensure proper drainage from the roof.
	Drain and store outdoor hoses. Close interior valve to outdoor hose connection and drain the hose bib (exterior faucet), unless your house has frost-proof hose bibs.
	Have well water tested for quality. It is recommended that you test for bacteria every six months.
	If you have a septic tank, measure the sludge and scum to determine if the tank needs to be emptied before the spring. Tanks should be pumped out at least once every three years.
	Winterize landscaping, for example, store outdoor furniture, prepare gardens and, if necessary, protect young trees or bushes for winter.

Winter

	Check and clean or replace furnace air filters each month during the heating season. Ventilation system, such as heat recovery ventilator, filters should be checked every two months.
	After consulting your hot water tank owner’s manual, drain off a dishpan full of water from the clean-out valve at the bottom of your hot water tank to control sediment and maintain efficiency.
	Clean humidifier two or three times during the winter season.
	Vacuum bathroom fan grille.
	Vacuum fire and smoke detectors, as dust or spider webs can prevent them from functioning.
	Vacuum radiator grilles on back of refrigerators and freezers, and empty and clean drip trays.
	Check pressure gauge on all fire extinguishers; recharge or replace if necessary.
	Check fire escape routes, door and window locks and hardware, and lighting around outside of house; ensure family has good security habits.
	Check the basement floor drain to ensure the trap contains water; refill with water if necessary.
	Monitor your home for excessive moisture levels — for example, condensation on your windows, which can cause significant damage over time and pose serious health problems — and take corrective action if necessary. Refer to the About Your House fact sheet Measuring Humidity in Your Home.
	Check all faucets for signs of dripping and change washers as needed. Faucets requiring frequent replacement of washers may be in need of repair.
	If you have a plumbing fixture that is not used frequently, such as a laundry tub or spare bathroom sink, tub or shower stall, run some water briefly to keep water in the trap.
	Clean drains in dishwasher, sinks, bathtubs and shower stalls.
	Test plumbing shut-off valves to ensure they are working and to prevent them from seizing.
	Examine windows and doors for ice accumulation or cold air leaks. If found, make a note to repair or replace in the spring.
	Examine attic for frost accumulation. Check roof for ice dams or icicles. If there is excessive frost or staining of the underside of the roof, or ice dams on the roof surface, consult the About Your House fact sheet Attic Venting, Attic Moisture and Ice Dams for advice.
	Keep snow clear of gas meters, gas appliance vents, exhaust vents and basement windows.
	Monitor outdoor vents, gas meters and chimneys for ice and snow buildup. Consult with an appropriate contractor or your gas utility for information on how to safely deal with any ice problems you may discover.
	Check electrical cords, plugs and outlets for all indoor and outdoor seasonal lights to ensure fire safety; if worn, or if plugs or cords feel warm to the touch, replace immediately.

Spring

	After consulting your hot water tank owner’s manual, carefully test the temperature and pressure relief valve to ensure it is not stuck. Caution: This test may release hot water that can cause burns.
	Check and clean or replace furnace air filters each month during the heating season. Ventilation system, such as heat recovery ventilator, filters should be checked every two months.
	Have fireplace or wood stove and chimney cleaned and serviced as needed.
	Shut down, drain and clean furnace humidifier, and close the furnace humidifier damper on units with central air conditioning.
	Switch on power to air conditioning and check system. Have it serviced every two or three years.
	Clean or replace air-conditioning filter, if applicable.
	Check dehumidifier and drain — clean if necessary.
	Turn OFF gas furnace and fireplace pilot lights where possible.
	Have well water tested for quality. It is recommended that you test for bacteria every six months.
	Check smoke, carbon monoxide and security alarms, and replace batteries.
	Clean windows, screens and hardware, and replace storm windows with screens. Check screens first and repair or replace if needed.
	Open valve to outside hose connection after all danger of frost has passed.
	Examine the foundation walls for cracks, leaks or signs of moisture, and repair as required.
	Ensure sump pump is operating properly before the spring thaw sets in. Ensure discharge pipe is connected and allows water to drain away from the foundation.
	Re-level any exterior steps or decks that moved as a result of frost or settling.
	Check for and seal off any holes in exterior cladding that could be an entry point for small pests, such as bats and squirrels.
	Check eavestroughs and downspouts for loose joints and secure attachment to your home, clear any obstructions, and ensure water flows away from your foundation.
	Clear all drainage ditches and culverts of debris.
	Repair and paint fences as necessary — allow wood fences to dry adequately before tackling this task.
	Undertake spring landscape maintenance and, if necessary, fertilize young trees.

Summer

Monitor basement humidity and avoid relative humidity levels above 60 per cent. Use a dehumidifier to maintain relative humidity below 60 per cent.

Clean or replace air-conditioning filter, and clean or replace ventilation system filters if necessary.

Check basement pipes for condensation or dripping and, if necessary, take corrective action; for example, reduce humidity and/or insulate cold water pipes.

Check the basement floor drain to ensure the trap contains water; refill with water if necessary.

If you have a plumbing fixture that is not used frequently, for example, a laundry tub or spare bathroom sink, tub or shower stall, run some water briefly to keep water in the trap.

Deep clean carpets and rugs.

Vacuum bathroom fan grille.

Disconnect the duct connected to your clothes dryer, and vacuum lint from duct, the areas surrounding your dryer and your dryer’s vent hood outside.

Check security of all guardrails and handrails.

Check smooth functioning of all windows, and lubricate as required.

Inspect window putty on outside of glass panes of older houses, and replace if needed.

Sand and touch up paint on windows and doors.

Lubricate door hinges, and tighten screws as needed.

Check for and replace damaged caulking and weatherstripping around mechanical and electrical services, windows and doorways, including the doorway between the garage and the house. See the About Your House fact sheet Attached Garages and Indoor Air Quality for more information on preventing garage-to-house air transfer.

Lubricate garage door hardware, and ensure it is operating properly.

Lubricate automatic garage door opener motor, chain and other moving parts, and ensure that the auto-reverse mechanism is properly adjusted.

Inspect electrical service lines for secure attachment where they enter your house, and make sure there is no water leakage into the house along the electrical conduit. Check for overhanging tree branches that may need to be removed.

Check exterior wood siding and trim for signs of deterioration; clean, replace or refinish as needed.

Remove any plants that contact — and roots that penetrate — the siding or brick.

From the ground, check the general condition of the roof and note any sagging that could indicate structural problems requiring further investigation from inside the attic. Note the condition of shingles for possible repair or replacement, and examine roof flashings, such as at chimney and roof joints, for any signs of cracking or leakage.

Check the chimney cap and the caulking between the cap and the chimney.

Repair driveway and walkways as needed.

Repair any damaged steps.

"ALWAYS THINKING OUTSIDE THE BOX!"