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03/22/2025
02/27/2025

📣 INTRODUCING THE NEW "BRIDGEWISE" HOME ENERGY PILOT

Energize Bridgewater and the Town of Bridgewater are proud to announce today the launch of Bridgewise, a home energy pilot program created to improve home efficiencies, promote environmental sustainability and tackle energy poverty.

A part of the Energize Bridgewater program, this new technology provides Bridgewater residents with the tools and data they need to make smart energy choices.

By making energy consumption and air quality information easily accessible and actionable, Bridgewise helps households reduce their energy expenses and improve their living spaces.

Energy poverty — the inability to afford adequate energy services — is a pressing issue in Atlantic Canada. Outdated housing stock, harsh winters, and rising energy costs have left many households struggling to make ends meet. The region has some of the highest energy poverty rates in Canada, which significantly impact health, safety, and quality of life.

“Energize Bridgewater is dedicated to ensuring that no household is left behind,” says Asad Hussain, Senior Energy Manager, Town of Bridgewater.

“With innovative programs like Bridgewise, we’re equipping residents with the tools to take control of their energy use, lower their costs, and contribute to the fight against energy poverty and climate change. Our mission is to ensure that every household has access to affordable, efficient energy solutions.”

Bridgewise uses advanced technology to help residents optimize energy efficiency and improve indoor air quality. The platform collects and transmits real-time data on home energy use and indoor air quality through a secure LoRaWAN network.

Residents can access this data via a user-friendly dashboard, enabling them to:

- Identify ways to lower energy costs
- Improve comfort and safety
- Enhance indoor air quality

By making energy use visible and actionable, Bridgewise is a vital tool for households aiming to reduce their energy expenses and improve their living conditions.

Bridgewise is first being made available to current participants in the Energize Bridgewater Home Upgrades program. Residents who complete the program will be notified if they are eligible to participate in Bridgewise.

More broadly, Energize Bridgewater is on a mission to:

- Reduce household energy spending by 52%
- Lower the community-wide energy poverty rate from 38% to 30% by 2026
- Create a pathway to lift all households out of energy poverty over time

To date, the program has made significant strides:

- Upgrades for over 180 dwelling units are underway or complete, achieving energy reductions of 22-39% for initial participants.

- Over $220,000 in utility arrears for households in need have been identified and support is being provided.

- The program is projected to stimulate over $10 million in economic activity by 2026, benefiting clean tech and trades sectors.

By retrofitting homes and promoting clean energy, Energize Bridgewater is reducing carbon emissions while ensuring an equitable transition to a sustainable future. This municipal-led initiative demonstrates the critical role local governments play in addressing gaps left by federal and provincial programs.

Energize Bridgewater serves as a model for communities across Canada, integrating social equity, environmental sustainability, and economic development into a comprehensive approach. By sharing its lessons and successes, Bridgewater aims to inspire other municipalities to tackle energy poverty and climate challenges together.

In addition, the Town of Bridgewater was recently recognized nationally by the Federation of Canadian Municipalities as one of nine Sustainable Communities in Canada as the winner of the Climate Change Mitigation category. Bridgewater was the sole recipient from the Atlantic region.

Residents and stakeholders interested in Bridgewise or other Energize Bridgewater initiatives are encouraged to visit energizebridgewater.ca or contact [email protected].

ABOUT ENERGIZE BRIDGEWATER
Energize Bridgewater is a multi-faceted program committed to addressing energy poverty, promoting environmental sustainability, and fostering economic growth. By implementing innovative solutions and building strong partnerships, the program is transforming the way communities approach energy challenges. In 2019, the Town won the national Smart Cities Canada Challenge. The winning $5 million grant helped to create Energize Bridgewater.

02/04/2025

some good info from Fiona about mortgages

Fiona Steele, Mortgage Broker
Visit My Website | Email Me | (902) 634-2005


A simple guide to fixed, variable, and adjustable-rate mortgages

With all eyes on mortgage rates the past couple years, choosing the right product can feel overwhelming, especially with so many options available.

Whether you’re buying your first home or looking to refinance, understanding the differences between fixed-rate, variable-rate, and adjustable-rate mortgages (ARMs) can make a big difference in your decision-making.

Here’s a quick and easy guide to help you understand these options.

Fixed-rate mortgages: Stability and predictability

A fixed-rate mortgage remains a popular choice among borrowers. According to a 2024 consumer survey by Mortgage Professionals Canada, 75% of borrowers opted for a fixed mortgage rate. However, interest in variable rates grew toward the end of the year as the Bank of Canada introduced several rate cuts.

Fixed-rate mortgage are not directly impacted by the Bank of Canada policy rate decisions. The interest rate stays constant throughout the term, ensuring consistent monthly payments for principal and interest, which makes budgeting easier.

Who is it for?

Fixed-rate mortgages are ideal for homeowners who prefer stability and plan to stay in their home for at least the length of the term selected. It’s also a good choice if you expect interest rates to rise in the future.

Key benefits:

Predictable payments for the term of your mortgage
Protection against rising interest rates
Considerations:

The initial rate may be higher compared to variable or adjustable-rate mortgages
Typically higher prepayment penalties if you break your mortgage before the end of the term
Less flexibility if rates decrease during your term
Variable-rate mortgages: Savings with some risk

A variable-rate mortgage (VRM) offers an interest rate that fluctuates with the lender’s prime rate, which is influenced by the Bank of Canada’s policy rate. While your payments may remain fixed, the portion of your payment going toward interest versus principal can change over time as rates rise or fall.

Who is it for?

Variable-rate mortgages suit borrowers who are comfortable with some risk and believe rates may decrease—or stay low—over the term of the mortgage. It also suits individuals that may look at selling or refinancing before their term is up, as the penalties are more predictable than fixed rate mortgages.

Key benefits:

Historically lower interest rates compared to fixed-rate mortgages
Potential savings when rates drop
Predictable pre-payment penalties
Considerations:

Monthly payments may increase if rates rise
Requires a tolerance for unpredictability
Adjustable-rate mortgages: A blend of flexibility and risk

An adjustable-rate mortgage (ARM) isn’t offered by all lenders in Canada. Scotiabank and National Bank are among Canada’s Big 6 banks who do offer it, and a number of Mortgage Finance Companies do as well. With an ARM, both your interest rate and monthly payment fluctuate with changes to the lender’s prime rate. Unlike a VRM, your payment changes immediately, typically within 30 days, when prime shifts, which can lead to greater monthly cost swings.

Who is it for?

ARMs may appeal to borrowers who want lower initial rates and have the financial flexibility to manage changes in monthly payments. As with VRMs, it may suit individuals that may look at selling or refinancing before their term is up, as the penalties are more predictable than fixed rate mortgages.

Key benefits:

Typically offers lower starting rates than fixed or variable options
Opportunity to pay less during periods of lower interest rates
Predictable pre-payment penalties
Considerations:

Payments can increase significantly if the prime rate rises quickly
Less predictable budgeting
Which mortgage type is right for you?

Choosing between these options comes down to your financial goals, risk tolerance, and how long you plan to stay in your home. A fixed-rate mortgage provides peace of mind, while a variable-rate mortgage offers savings potential with some uncertainty.

Let’s find the right fit together

I’m here to help you weigh your options and choose the mortgage that works best for your unique situation. Whether you prioritize stability or are open to taking a calculated risk for potential savings, I’ll guide you every step of the way.

Reach out today to explore your options and make an informed decision about your mortgage.

Fiona Steele
Mortgage Broker
(902) 634-2005
[email protected]

08/17/2024

🤣😂







07/24/2024

GOOD NEWS!! The Bank of Canada cut its interest rates for the second time in 2024, bringing its key rate to 4.5 percent.

The Bank of Canada reduced its 4.75 percent benchmark interest rate by 25 basis points on July 24, noting that core inflation has been below 3 percent for several months.

“If inflation continues to ease broadly in line with our forecast, it is reasonable to expect further cuts in our policy interest rate,” Bank of Canada Governor Tiff Macklem told reporters.

Mr. Macklem said the bank lowered the rate because its monetary policy has been successful in easing high prices, and Canada’s economy now has “more room to grow without creating inflationary pressures.”

The Bank said that Canada’s inflation rate fell to 2.7 percent in June after increasing slightly in May. This was down from 3.4 percent back in December 2023.

07/11/2024

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56 Davision Drive
Bridgewater, NS
B4V3K9

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