Poll Finds British Columbians Willing to Exchange Flexibility for Lower Mortgage Rates

Prospera Credit Union today announced the findings of a survey gauging British Columbians’ attitudes towards mortgages in today’s economic climate. The poll was conducted on Prospera’s behalf by Ipsos Reid.

Reflecting concern about the current economy, the survey found that 75 per cent of British Columbians are paying closer attention to their household budget than ever before. This focus on household budgeting extends to mortgages, especially among younger British Columbians. The survey found that 60 per cent of younger British Columbians (under 45 years) with a mortgage or in the market for a mortgage were interested in giving up some mortgage payment flexibility in exchange for a lower interest rate.

According to the poll, 59 per cent of all British Columbians were not aware that mortgage holders pay a higher interest rate for the ability to make lump sum payments against their mortgage.

“Canadians across all age and income levels are looking at how they live and how they spend,” says Sundeep Sandhu, Prospera’s VP of Marketing. “While rate, flexibility of payment schedules and the credibility of a lender are still important factors when deciding on a mortgage, the poll demonstrates that the ability to make lump sum payments is much less critical to the consumer – especially in today’s economy.”

Traditional long-term cost-saving measures include increasing mortgage payment amounts and decreasing the loan amortization. However, given today’s economy many homeowners indicated that they would prefer to see the immediate savings obtained from a lower mortgage rate. With mortgage payments comprising 25 per cent of the average Canadian family’s expenses, the savings can be significant.

“The findings of the poll show that there is a need for a mortgage product that allows homeowners to trade flexibility for a lower rate, and that’s why Prospera has introduced the myStyle mortgage,” continues Sandhu. “Why pay for mortgage options that will never be used?"

The myStyle mortgage rewards consumers with a low interest rate on a five-year fixed mortgage. It was designed for people who know they will not take advantage of pre-payment privileges and would rather have a lower interest rate.

The survey also explored other aspects of what concerns British Columbians about the current economic climate.

• Concerned about the economy getting worse: 67% agree
• Had to delay a major purchase: 45% agree
• Concerned about job security: 44% agree

The online poll of 603 adult British Columbians was conducted by Ipsos Reid between April 21 and April 24, 2009.  The margin of error for a sample size of 603 is ±4.0%, 95, times out of 100. The data was weighted to reflect the actual age, gender and regional composition of British Columbians.  

Tim Tams on Canada AM

This morning Canada AM's Jeff Hutcheson learned how to do the Tim Tam Slam. He is heading to Australia for the Best Job in the World contest announcement and there were some essential travel skills that he needed to know before taking off. Thanks to Tourism Australia for working with us to make this happen.

Slam tip #1: as soon as you taste the coffee through the biscuit your have to flip it around and slam it.

Park Royal Tackles Plastic

Based on the findings of a trash analysis conducted by Metro Vancouver, Park Royal Shopping Centre is announcing a plan to tackle its plastic waste. The program, which officially launches on Earth Day (April 22), includes the elimination of 'bad' plastic bags (marked HDPE and LDPE) and the addition of a soft plastics recycling program throughout the Shopping Centre.

The trash inventory was conducted in autumn of 2008 and identified the three leading categories of waste in Park Royal’s garbage: organics, paper and plastic. Upon examining the plastic waste, Metro Vancouver estimated that 278 tonnes of plastic per year could be recycled rather than being sent to the landfill.

“When we saw the numbers, it reaffirmed for us that it was time to take action,” says Cindy Papa, Director of Marketing & Sustainability for the Centre. “We’re beginning by tackling plastics, and we’re looking forward to significantly reducing what we are sending to the landfill.”

Vancouver Magazine Announces Winners of 20th Annual Restaurant Awards

Vancouver, BC; April 15, 2009 – Stars of the B.C. restaurant industry gathered yesterday at the Sheraton Wall Centre for the 20th Annual Vancouver Magazine Restaurant Awards. The audience of more than 800 included the city’s top chefs, sommeliers and food critics. The event was capped by Cioppino’s/Enoteca winning the event’s top honor, Restaurant of the Year.

“There were some surprises this year,” said Vancouver magazine editor-in-chief Gary Stephen Ross, “which shows that the culinary scene is vital and ever-changing. Even in tough economic times, rooms that get it right quickly become popular with the dining public—and draw the attention of our 19 judges.”

To mark the 20th anniversary of this event, special recognition was given to those who have made a lasting impression on the industry. For his role in making Vancouver a leading culinary destination, the Lifetime Achievement Award was given to Hidekazu Tojo - owner of the legendary Tojo’s. In addition to being given this honour, Tojo’s also won Best Formal Japanese for the 18th consecutive year. Other honourees included Fuel’s Robert Belcham who was awarded Chef of the Year and Robert Clark of C who was given the Green Award.

Other highlights included La Quercia winning Best New Restaurant and Best Casual Italian after its first year in business. Industry legends, Vikram Vij of Vij’s and Michel Jacob of Le Crocodile also won in their respective categories. Vij’s has won Best Indian since the category was created 13 years ago and Le Crocodile has also been a consistent winner having won Best Formal French eight times.

Several categories saw some surprises. For best dining in Whistler, Bearfoot Bistro won the top honour beating nine time winner Araxi. Cru was given the Gold Award in the Best Small Plates category, while five time winner Bin 941/942 took Silver.

For a full list of winners, go to www.vanmag.com/restaurants/Awards

Park Royal Shopping Centre Donates $500,000 to Development of North Shore Spirit Trail

Park Royal Shopping Centre has announced that it is making a $500,000 donation to the North Shore Spirit Trail, a waterfront network of paths and walkways that will connect communities from Horseshoe Bay to Deep Cove. The donation marks the first major commitment from a private company to the West Vancouver portion of the Spirit Trail.

"With this donation, the Spirit Trail is off on the right foot," says West Vancouver Mayor, Pamela Goldsmith-Jones. "Park Royal's leadership in sustainability is an asset to the community.

The donation will be earmarked for the construction of a three meter-wide pedestrian structure to be added to the lower road bridge that crosses the Capilano River. The existing bridge connects Bridge Road and Taylor Way on the south side of Park Royal. The funds will also provide for the expansion of the sidewalk on the south side of the Shopping Centre, making the path wider and more accessible. When complete, residents and visitors will be able to hike, run or bike along the 35-kilometre Spirit Trail from one end of the North Shore to the other.

Spring Begins With a Boink

Vancouver, BC; March 19, 2009 – Spring Advertising + Design is celebrating the first day of the season with its second annual Boink Day, a pogo-a-thon to raise funds for the Greater Vancouver Food Bank. From 7am – 7pm on Friday, March 20 on the Georgia Street Side of the Vancouver Art Gallery, the advertising firm and its clients will donate ten cents to the Food Bank for every pogo bounce performed by a member of the public.

“With Boink Day we’re trying to give the first day of Spring its due.” says Rob Schlyecher

Partner and Creative Director of Spring Advertising + Design. “We’re going outside and getting on pogo sticks to celebrate the end of a long cold wet winter and raise money for the Food Bank.”

In addition to raising funds through boinking, the public can also make a cash or non-perishable food donation. For every $1 donated, the Greater Vancouver Food Bank can purchase $3 of nutritious fresh fruit, vegetables, and eggs.

Last year, out of the $3,000 cash raised, the Food Bank was able to purchase $9,000 worth of food. This year, Spring aims to break that total, while pogo-ers will aim to beat last year’s record of 2,500 consecutive boinks.

Visit Boink Day on Facebook.

Noise Expands to Toronto

Vancouver, BC; March 3, 2009 – Vancouver-based digital advertising agency Noise Digital announced today its expansion to Toronto. The agency is bucking current economic trends by adding resources to service its growing client base.

“Our business is expanding exponentially,” says Trevor Carr, President & CEO, Noise Digital. “We are seeing a fundamental change in the agency model. Our clients are tasking us, not just with digital execution, but with overall campaign strategy. And to meet these growing needs we are delighted to now have a fixed presence in Ontario.”

The company has hired Peter Pinfold as VP Client Services to open Noise Toronto. Pinfold was a former Noise client at Unilever and worked with the agency on the award-winning Degree Fashionista Challenge, which was awarded Best in Show at the 2006 W³ Awards.

In the newly created role of VP Client Services, Pinfold will be responsible for business development and account direction. While Noise’s creative resources will still be housed in Vancouver, Pinfold will work closely with key accounts including adidas and Sony PlayStation.

“Peter was the natural choice to be our anchor in Toronto,” adds Carr. “He brings more than ten years of marketing and sales experience on both the client and agency sides.”

Pinfold has worked on a portfolio of CPG brands and has won numerous national and international awards for media innovation and brand activation, including Best of Show at the 2006 and 2007 Promo Awards. While at Unilever, Peter and the extended Dove team were recognized by Strategy Magazine as marketers of the year in 2004. In 2005, Peter led the much talked about Degree Poker Championship and the lauded Dove documentary, Beauty Quest.

“Digital brand experiences are increasingly becoming an indispensable part of the marketing mix. A shared brand building philosophy and a passion for innovation is what first attracted me to Noise, ” says Pinfold. “This is a great opportunity to take my experience and help build engaging programs for our clients as well as contribute to the depth of marketing know-how at Noise”.