Brian's Ontario Real Estate Blog

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



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%
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%      ...
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...
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...
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...
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...
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...
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...
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...
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

Brian Madigan

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