Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)

ARCHIVED BLOG POSTS

2015 

Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 2.89% 2.29% 2 YEARS 2.84% 2.19% 3 YEARS 3.39% 2.34% 4 YEARS 3.89% 2.49% 5 YEARS 4.64% 2.59% 7 YEARS 5.30% 3.39% 10 YEARS 6.10% 3.84% Rates are subject to change without notice. OAC E&OE  Prime Rate 2.70% 5 yr variable 2.05%
08/31/2015
Fixed term best preferred rates & posted rates as of August 30, 2015 6 mos                                 3.10%         3.14%1yr                                     2.29%          2.89%2yr                                     2.19%          2.84%3yr                                     2.34%      ...
08/30/2015
We are just about finished with Paul's problems(unusual seasonal expenses)The vendors were under a duty to mitigate their losses. So, they did as best they could. Paul was to buy the property with a June 30th closing. The house had a swimming pool and air conditioning. It was an additional $2,750...
08/30/2015
You might think that was a bad day for Paul, but it gets worse.The vendors put the property back on the market. The agent calls the next higher bidder who actually had come in at $455,000, but he has already bought something else. It’s a little later in the year, and other purchasers wonder if so...
08/30/2015
All was well for a few days, until Paul received a call from his mortgage broker. The appraisal came in at $445,000. He could get first mortgage financing for 95% of that amount, or $422,750. Paul was $72,250 short on this deal.Paul had put down $30,000 as a deposit on this deal and he thought th...
08/30/2015
Bidding Wars: the Successful Loser!By Brian Madigan LL.B.You might think that having won the bidding war, Paul would be quite happy. And, he was for a bit. But, here’s what happened. The housing market was quite active, and like a number of cautious house hunters, Paul was encouraged to put in an...
08/30/2015
The Successful LoserQuestionBob, the Buyer "won" in multiple offers.Bob had lost out several times before, so he was now a little “gun-shy”, but he recognized that he had to outbid everyone else in order to WIN.Now, he’s having second thoughts.What can Bob do?AnswerI have had more than half a doz...
08/29/2015
POA QUESTIONHelen, the daughter holds a Power of Attorney POA from her mother Gertrude, who has been diagnosed with dementia. They are co-habitating. Helen and I have been touring alternative lifestyle choices. Gertrude called another real estate agent on her own accord. Helen sent a stressed out...
08/29/2015
Commercial Bond Yields   CMB         GoC         Floating RateInsured Cost of Funds 5 Year - 1.20%*Canada Housing 12/15/20 [-0.03]       5 Year - 0.72%CAN 0.75 09/01/20 [-0.02]       0.90% [-]                       10 Year - 2.05%Canada Housing 12/15/25 [-0.01]       10 Year - 1.42%CAN 2.25 06/0...
08/29/2015
Terms The Bank PreferredRates 1 Year 3.14% 2.79% 2 Years 3.14% 2.34% 3 Years 3.80% 2.49% 4 Years 4.54% 2.59% 5 Years 4.84% 2.69% 7 Years 5.30% 3.39% 10 Years 6.10% 3.89% VIRM 2.70% 2.05% The prime rate is 2.70
08/29/2015
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BrianMadigan

LL.B., Broker
local_phone(416) 745-2300
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