Kelvin Mangaroo is the founder of RateSupermarket.ca, a free service enabling Canadians to find the best mortgage rates in Canada and compare mortgage rates with one search.
17 Jan 10 Credit Scores and Their Effect on Canadian Mortgage Rates
Ask any Canadian who has gone through the home buying process what score is more important – last night’s NHL results or their Beacon Score – and they’ll most likely respond, “the Beacon Score of course!”. The reason being that a Beacon Score is one of the credit scores that lender’s use to measure a borrowers’ risk based on a valuation of their financial history including details on credit cards, charge cards, loans, mortgages and overall payment history.
In Canada, 3 private company’s generate almost all the credit scores – Equifax, Trans Union and Experian. Though all 3 bureaus offer FICO (Fair Isaac Credit Organization) scores using the formula developed by Fair and Isaac, each has its own brand name – Equifax calls it the Beacon Credit Score, Trans Union has the FICO score and Experian uses the Fair, Isaac Risk Model.
A high credit score is an important factor in applying and securing the mortgage and mortgage rate of your choice. It also makes it easier for an individual to get credit cards and loans on favorable terms, sometimes even with instant approvals. The higher your score, the lower the interest rate! The difference between a good and bad score can increase the cost of a loan by 3% or more.
Equifax is the most popular credit score used by lenders and results range from 300 to 900. The break-up is as follows:
35% of the total score is based on payment history
30% is the amount owed and the available credit
15% is for length of credit history
10% is for types of credit used
10% is for search and acquisition of new credit and inquiries
A common misperception is that all inquiries will negatively impact your score instantly. The reality is that this may happen but its not a given and depends on your overall credit profile. The first inquiry can result in a drop of 5 to 20 points on the first mortgage inquiry, and will usually have a larger impact on the score for consumers with limited credit history and on consumers with previous late payments, but it’s different in every case.
Factors that affect your credit score
1. You have a short credit history
Age of your credit on revolving or non-revolving accounts also affects your credit score. Revolving accounts are credit cards such as Visa, MasterCard, or retail store card that allow you to make a minimum monthly payment and “revolve” the remainder of their balance over to the next month.
Non-revolving accounts include cards such as American Express and Diners Club and must be paid off in full each month.
Research shows that consumers with longer credit histories have better repayment risk than those with shorter credit histories. Also, consumers who frequently open new accounts have greater repayment risk than those who do not.
If you can maintain low balances and make sure your payments are on time, your score should improve as your revolving credit history ages.
2. You’ve been looking for credit in the past year
If you’ve been recently been seeking credit, this is evident on your credit file based on the number of inquiries in the past 12 months. Research shows that consumers who are seeking new credit accounts are riskier than consumers who are not seeking credit.
There are both credit and non-credit inquiries on the report and the score only considers those related to credit applications. Inquiries such as your bank reviewing your account or you requesting a copy of your own report are not considered.
The scores can identify “rate shopping” so that one credit search leading to multiple inquiries being reported is usually only counted as a single inquiry. For most consumers, a few inquiries on your credit file has a limited impact on FICO scores and the best advice is to only apply for credit when you need it.
3. Not paying off your loans
If you have installment loans and owe money on them, this does not mean you are a high-risk borrower. Paying down these installment loans is very positive as it shows that you are willing and able to manage and repay debt, and a successful repayment history is good for your credit rating.
One measurement is to compare outstanding loan balances against the original loan amounts. If you took out a $1,000 line of credit 1 year ago and still owe $925, this shows that you may be having trouble paying off the debt. Generally, the closer the loans are to being fully paid off, the better the score. This metric has limited influence on the FICO score.
Paying off loans on a timely basis reflects well on your credit score, but if you really want to improve it, try to pay the loans, (especially non-mortgage debt) as quickly possible.
4. Non-mortgage debt is too high
Consumers with larger credit amounts have a greater future repayment risk than those who owe less, resulting in the score measuring how much non-mortgage related debt you have.
The total outstanding balance on your last credit card statement is generally the amount that will show in your credit bureau report. Even if you pay these off in full each month, your credit bureau report may show the last billing statement balance.
Paying off your debts and maintaining low balances will help to improve your credit score. Consolidating or moving your debt into one account will usually not, however, raise your score, since the same amount is still owed.
Bankruptcy on the credit report is a borrower’s worst nightmare, as it stays on record for almost 10 years and reduces your score by 200 points or more.
Top tips to improve your credit score
1. Review your credit report at least once a year
2. Contact your creditors or the credit reporting agency to have errors on your credit profile corrected
3. Apply for credit only when you need it
4. Keep balances below 50% on your credit cards
5. Pay off non-mortgage debt on time as quickly as possible
Tags: Canadian, Credit, effect, mortgage, rates, Scores, Their
17 Jan 10 New insurance mandates take effect in Wisconsin
Young adults can stay on their parents’ insurance longer, and birth control costs must be covered for those looking to avoid having any kids at all, under new laws that take effect Friday in Wisconsin.
Also starting in the new year, state workers and employees at the University of Wisconsin can receive domestic partner health insurance and other benefits. The new mandate that insurance plans cover autism will take effect for most on Friday when group policies are renewed. That law change started in November, but most policy holders won’t start paying for it until now.
The new insurance mandates were approved by the Democratic-controlled Legislature and Gov. Jim Doyle this year. Advocates who pushed for requiring birth control and autism coverage argued it was over due, even though the new mandates are expected to increase costs for all policy holders.
“It’s another year in the march toward increasing health insurance premiums,” said J.P. Wieske, director of state affairs for the Council for Affordable Health Insurance, a national advocacy group whose membership includes insurers, health care providers, actuaries and insurance brokers.
No one seems to know how much the changes will cost. Neither the state Office of the Insurance Commissioner nor the Wisconsin Association of Health Plans, which represents 18 member health plans across the state, has estimates.
“Every indication is that the mandates have increased costs and cost expectations will be higher for 2010,” said Phil Dougherty, senior executive officer of the Wisconsin Association of Health Plans.
The association didn’t oppose any of the changes but instead worked with the governor and state lawmakers on ensuring that the laws do what was intended, Dougherty said.
There was opposition from anti-abortion and Catholic groups to requiring contraceptives to be covered under health insurance policies. Opponents argued that birth control is not medically necessary and insurance companies should not be forced to pay for what is a personal decision.
The Wisconsin Catholic Conference is lobbying lawmakers to provide an exemption for religious organizations.
“The law does not give adequate deference to our religious values and our religious liberties,” said John Huebscher, executive director of the conference. “It would force dioceses and other Catholic organizations that buy insurance to pay for something they object to.”
Three of the state’s five Catholic dioceses purchase private health insurance, which would be required to include contraceptive coverage, he said. However, their policies aren’t up for renewal until later in 2010, so the hope is the Legislature will provide for the exemption before then.
Those three dioceses in Milwaukee, Madison and Green Bay insure about 6,000 clergy, staff and other employees, Huebscher said. The other two in La Crosse and Superior are self-insured and not bound by the law, he said.
Planned Parenthood opposes any exemptions because that will limit women’s access to birth control, said the group’s legal and policy analyst Nicole Safar.
“An exemption really defeats the purpose,” she said.
Mandating birth control coverage will dramatically increase its access, Safar said. She cited a 2001 report by the state Office of the Insurance Commissioner that showed about one in five of the most popular insurance plans with prescription drug coverage in Wisconsin did not cover contraceptives.
Wisconsin is joining 24 other states that already require birth control to be covered, according to the National Conference of State Legislatures. Two additional states require insurance companies to offer contraceptive coverage as an option to employees, but it can be declined.
Federal law requires insurance coverage of contraceptives for federal employees.
Under another insurance change taking effect in Wisconsin, adults up to age 27 could remain on their parents health insurance plans unless they have access to cheaper plans through their employers.
Current law does not address how long a child can remain on their parent’s coverage, leaving it up to individual insurers to decide.
Supporters of increasing the age, including Doyle and the Wisconsin Association of Health Plans, said the law will help young people who either can’t afford health insurance when they first start working or aren’t offered it.
There were no estimates from the state or the insurance industry as to how many people may be affected.
To qualify, the young adults have to be single, not eligible for insurance through their employer, or be able to get on their parents’ plan for less money than through their work.
About 20 states require insurance companies to offer parents coverage of adult children, according to the Council for Affordable Health Insurance.
The domestic partner benefits are being extended to unmarried partners of state employees who live together, share expenses and meet other requirements. It is open to unmarried couples of the opposite sex as well as same-sex couples.
As of Tuesday, 710 people and 57 dependents have signed up for the health insurance, according to the Department of Employee Trust Funds. Another 300 state workers have signed affidavits saying that they qualify for the benefits, indicating that they may sign up later.
Another 179 university employees added a domestic partner to their health insurance as of Dec. 21.
The health insurance benefit is separate from other rights that all same-sex couples became eligible for in the state starting in August. Under that law, couples had to sign a registry in order to receive a host of rights already afforded married couples, including hospital visitation and inheritance.
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Tags: effect, insurance-, mandates, Take, Wisconsin
10 Jan 10 Effect Of Telugu Songs in Tollywood Film Industry
Telugu Songs are very important in dragging audience attraction towards a particular film. In the olden days, the songs has no enough importance in the success of a film. They were treated as a normal factor along with other crafts. Even, there is no sound recordings. They used to record sounds at the shooting location itself. Later on, the opinion changed in the mind of the people. The music was given importance by treating it as a separate and important craft.
In today world, many people are watching movies only if the songs are good. Music is playing an important role in the success of a film, because the audio cassettes are released before the film is released out and if the songs are good, the audience try to watch the film. Their expectations on that film will increase eventually which results in grand openings for that film. So, all the movie directors and actors are investing enough amounts on music composition. Now, this led to the boom of the musicians in tollywood industry.
There are a lot of music directors in telugu industry who gave many block buster hits. The songs composed by them are still circulating in the minds of the people. Many fans worship these musicians as Gods. Some of them are
Ghantasala,
K.VMahadevan,
M.S.Viswanadhan,
Sathyam,
Ilayaraja,
M.Balamurali Krishna,
Yesudas,
Mohd.Rafi,
A.R.Rehman,
Vidya Sagar,
Mani Sharma,
Keeravani,
Raj-Koti,
Devi Sri Prasad etc…
The songs should be sung by the professional singers who give life to the song by their voice. They should sing it from the heart, not just the mouth. That is, they have to feel the situation of the song and then sing. Then, the song will come out very well. There are many great singers in telugu industry like S.P.Balasubramaniyam, P.Susheela, S.P Sailaja, Chitra, Ghantasala etc who have given thousands of hit songs in their career.
The filmy songs like classical, folk, devotional and rock play a vital role in making the films popular. The folk and rock versions will be lasted very few days, but the classical/melody mp3 songs will be everlasting. Music has also the ability to cure many health problems using Music Therapy. Now a days, the musicians are using the internet to promote their albums. They are releasing some music tracks for downloading and building up fan clubs by which they are promoting their film. Using the internet, you can download any song easily whether it is old or new one.
Internet is a great resource to listen to the music from your computer with just a click. Check Sillymp3.Com for Telugu Mp3 Songs and Telugu Songs Download.
I have completed my post graduation in Computer Science and was interested in technology a lot.I was into blogging since 2008 and found success in it.Now,i became the professional blogger.I write technology articles on Blogging Tips,SEO,education tips and also Latest Cinema News.
10 Jan 10 NUMEROLOGY: Your Name Number and Your Life in 2010 – This is Your Year! – How numerical vibrations of your first name will effect your life in 2010
NUMEROLOGY AND YOUR LIFE IN 2010.
Your first name – especially your personal name that you chose to be known by – is all about your personal identity.
Here is how the numerical vibrations of your first name will effect your life in 2010!
Numerology has a great deal to do with the numeric value of the Alphabet and there are many legends and theories about how this came about.
The Alphabet itself was inspired by pictorial representations that recorded elaborate stories.
These full pictographs originally were abbreviated to form hieroglyphics with each symbol depicting a word. As more time elapsed – the glyphs were further reduced to represent individual sounds and then the consonants and vowels that we know today.
The modern alphabet that numerological systems are based on is derived from an earlier hieroglyphic system that is still used by Japanese and Chinese cultures.
Each letter also symbolizes a number. This has remained unchanged even though our speech patterns have evolved to make some sounds obsolete.
Each sound is thought to also have an esoteric spiritual implication with an essence that can be described as a number.
Even more meaning is given to the very first letter of the word. Here is a breakdown of the numerical vibrations of the letters in the alphabet according to ancient numerology systems that originated in Babylon and Egypt.
In these systems personality was analyzed by the first letter of the name…
STEP ONE: Determine Your First Name Number!
- A is the numerical equivalent of 1 and symbolizes confidence. When it is the first vowel in a name, the person tends to be bold. On the negative side, A can be critical of efforts of others.
- B is the numerical equivalent of 2 and represents our emotions. A person with a B first letter is friendly and a homebody. On the negative side, B can be self absorbed if not a bit greedy.
- C is the numerical equivalent of 3 and represents energy. C people are talented and get along well with others. Negatively, C people can be ruthless and cruel.
- D is the numerical equivalent of 4 and represents balance. It is very powerful and is the letter associated with business. When it is the first consonant in a name the person is very tired. On the negative side a D person can be stubborn.
- E is the second vowel in the alphabet and is the numerical equivalent of 5. It is a is warm hearted, loving and compassionate. The E can be unreliable and a bit flaky.
- F is the numerical equivalent of 6 and represents love. It is warm-hearted, compassionate, and easy going. When it is the first consonant in a name it carries the vibration of a nurturer. Negatively, F people can be known for their self-pity.
- G is the numerical equivalent of 7 and represents mysticism and religious experiences. This letter is imaginative, creative, and helpful. When it is the first consonant in a name, the bearers will tend to be loners. G’s don’t listen well to others.
- H is the numerical equivalent of 8 and represents creativity and power. This letter has a great deal of business talent. Negatively,it can be self absorbed and greedy.
- I is the third vowel of the alphabet and is the numerical equivalent of 9. It represents Law and as a general rule is sensitive, compassionate and humane. On the negative side people with I as the first letter in their name can be ill-tempered.
- J is the numerical equivalent of 1 and represents our aspirations. This letter is truthful, benevolent and intelligent. When it is the first consonant in a name the bearer will possess an unyielding desire not to give up and will therefore find success – eventually. Negatively, J can be lazy and lack direction.
- K is the numerical equivalent of 2 and represents a person that goes to extremes. K people are strong willed and influential. Negatively, K can be dissatisfied with life and take their discontent out on others.
- L is the numerical equivalent of 3 and represents action. It is charitable and well adjusted but can be somewhat accident prone.
- M is the numerical equivalent of 4 and represents spirituality. This letter has a great deal of self confidence and is therefore likely to achieve success. The drawback is that people with this can be workaholics.
- N is the numerical equivalent of 5 and represents imagination. It is intuitive and communicative, but negatively can be predisposed to jealousy.
- O is equates to the number 6. This letter represents patience,compentence and is particularly studious. The drawback of being an O is being a bit of a drama queen.
- P is the numerical equivalent of 7 and represents power. When it is the first consonant in a name the bearer is likely to think of spiritual matters. Negatively, P people can be selfish and flaky.
- Q is the numerical equivalent of 8 and represents originality. It symbolizes genius and the unknowable. Negatively, Q can be too self absorbed.
- R is the numerical equivalent of 9 and is tolerant and humane but has a tendency to become short tempered. When it is the first consonant in a name the bearer will often act as a diplomat.
- S is the numerical equivalent of 1 and represents beginnings. S people are very sexy. Negatively, S can act impulsively without concern for others.
- T is the numerical equivalent of 2 and represents growth. It is a restless letter which seeks answers to spiritual questions. Negatively, T is overly emotional, indecisive and is often easilyinfluenced by the opinions of others.
- U is the final true vowel in the alphabet and is the numerical equivalent of 3. The U person is very lucky in all ways. Negatively, U can be selfish, greedy and indecisive.
- V is the numerical equivalent of 4 and represents construction. It is an industrious letter which is tireless and efficient. However, V people can also be ruthless.
- W is the numerical equivalent of 5 and represents self-expression. These first letter people are artistic. Negatively, W can be greedy and take too many risks.
- X is the numerical equivalent of 6 and represents sexuality. This letter is very sexy. Unfaithfulness is an unpleasant character trait as well.
- Y is the penultimate letter in our alphabet and is the numerical equivalent of 7. This number loves freedom and dislikes restraint of any kind. However Y can be indecisive and lazy.
- Z is the final letter in our alphabet and is the numericalequivalent of 8. It represents hope and peace. Negatively, Z firstletter people often act without thinking and without regard forothers.
As you can see this is quite a different way of looking at Name Numerology but it is also a very ancient way that proves very accurate.
STEP TWO: Determine Your Compatibility with those of importance in your life:
Relationship Compatibility for 2010 – What will your compatibility be with others? Here is how to find out…
-> Compatibilities for Number 1
Best: 1, 5, 7
Possible: 3, 9
Challenging: 8
Disaster: 2,4,6
-> Compatibilities for Number 2
Best: 2, 4, 8
Possible: 3, 6
Challenging: 9
Disaster: 1,5,7
-> Compatibilities for Number 3
Best: 3, 6, 9
Possible: 1, 2, 5
Challenging: (none, relationships are very black and white anduncompromising for this number)
Disaster: 4, 7,8
-> Compatibilities for Number 4
Best: 2,4,8
Possible: 6, 7
Challenging: (none)
Disaster: 1, 3, 5, 9
-> Compatibilities for Number 5
Best: 1, 5, 7
Possible: 3, 9
Challenging: 8
Disaster: 2, 4, 6
-> Compatibilities for Number 6
Best: 3, 6, 9
Possible: 2, 4, 8
Challenging: (none – not a number that has middle ground)
Disaster: 1, 5, 7
-> Compatibilities for Number 7
Best: 1, 5, 7
Possible: 4
Challenging: 9
Disaster: 2, 3, 6, 8
-> Compatibilities for Number 8
Best: 2, 4, 8
Possible: 6
Challenging: 1, 5
Disaster: 3, 7, 9
-> Compatibilities for Number 9
Best: 3, 6, 9
Possible: 1, 5
Challenging: 2, 7
Disaster: 4, 8
As you can see some of the numbers have the capacity to get along with more numbers than others. The hardest number to get along with is 4, which has more incompatible numbers than the other numbers.
There are also many numbers (such as 6, 3 and 4) that simply have no middle ground – if there are challenges in a relationship it is next to impossible for them to work on them as they have instant likes and dislikes.
STEP THREE: Your birth date of the Month:
The day of the month that you were born on could be significant as it determines what type of job you might best be suited to do.
This is because in some folk forms of numerology the digits of the day you were born are said to symbolize the tools and talents that you were born with in life. So…
- One. If you were born on the first day of the month, then you mustbe the center of attention so being a politician; public speaker, actor or performer best suits you. You are also a born leader.
- Two. If you were born on the second day of the month you relate to people more emotionally than cerebrally and would make a good psychologist, counselor or sales clerk.
- Three. If you were born on the third day of the month then you are tolerant of others and like the spotlight. You make a good teacher, theologian or performer.
- Four, if you were born on the fourth day of the month you are energetic and have a good design sense. You make a good house builder or gardener.
- Five. Those born on the fifth have inquisitive minds and make good scientists, teachers and computer experts. A job that combines technology with travel is perfect (such as a pilot.)
- Six. You are pleasant, know what to say and would make a good advisor, consultant or nurse.
- Seven. You have high ideals and are very precise. You make a good novelist, scientist or chemist.
- Eight. If you were born on the eighth day you are good with money and are suited to business. You would make a good banker or builder.
- Nine. Those born on the ninth of the month are independent spirits who make good counselors, spiritual advisors and healers.
- Ten. Those born on the tenth are intense, political and natural born leaders. You make a good executive, doctor or quality control inspector.
- Eleven. These individuals are sensitive to the needs to others. They make great teachers and counselors.
- Twelve. Those born on the twelfth of the month tend to be consultants or fix it type people. It is characteristic for them to finish up the undone projects of others. They are good at mediating and sales.
- Thirteen. You are a super salesperson who has both charisma and leadership abilities. You excel at architecture, designing infrastructures, politics and screenwriting.
- Fourteen. If you were born on the fourteenth you have a methodical way of working that makes you a good contractor, manager or secretary.
- Fifteen. This is the number of diplomacy and also denotes a person who will speak several languages. You make a good banker, diplomat or translator.
- Sixteen. This is an idealistic number and you make a good social worker. You are also suited to shipping, fishing or working in hospitality.
- Seventeen. You love education and would make a good professor. You are also a good counselor or psychiatrist. Fame as a writer is indicated.
- Eighteen. You are good at project planning and management. You can thrive in any corporate environment. Construction and design are also possibilities.
- Nineteen. You are egotistical and forward-looking. Information technology interests you but you could also be a good spiritual counselor.
- Twenty. You are a natural homemaker and would do well as a nurse, caregiver or cleaning person.
- Twenty-one. You are a master of speculation and organization and would do well in the financial or publishing industries.
- Twenty-two. You are intuitive and scientific at the same time and would make an amazing nurse, doctor, counselor or architect.
- Twenty-three If you were born on the twenty-third day of the month, you are a very analytical person who can mediate or face anything. You would make a good accountant.
- Twenty-four. You are good at understanding what makes people tick and would be well suited to a career as a lawyer, paralegal, executive or psychologist.
- Twenty-five. If you were born on the twenty-fifth day of the month, there is a very spiritual side to your nature, which makes you a good advisor, counselor or healer.
- Twenty-six. If you are a hard worker with exceptional organizational skills and would excel in a supervisory or management capacity of any kind.
- Twenty-seven. If you were born on the 27th day of the month, you are mercurial, intelligent yet quite eccentric. You are suited to science, telecommunications and working on your own.
- Twenty-eight. You are very creative and egotistical. You also love to travel. You would do well working in the tourist industry. Working with animals also suits you.
- Twenty-nine. You are a very caring individual and would do well inany medical field. You would also make a good physical trainer or physiotherapist.
- Thirty. You are chatty, charismatic and have a lot of natural talent. You are suited to radio, television, writing or shining as an athlete or inventor.
- Thirty-one. You are a true leader and quietly strong and confident. You are precise and would make a great researcher, scientist or explorer of some kind. You are also an excellent entrepreneur and others will willingly buy from you or follow you.
See more articles by top relationship experts at WUVING.com…
What WUVING.com has done is specialize in individual needs of people looking for real love and romance. You can meet people in our military, singles, people of all sizes and races — in other words — real people!
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- Kate Falken
Kathleen Falken has participated in psychic research, dreamstudy, marriage counseling and the practice of psychology for over 30 years. See more of her articles at WUVING.com www.wuving.com
Tags: 2010, effect, first, life, Name, number, numerical, Numerology, This, vibrations, year
