ARCHIVED BLOG POSTS
2016
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Question:Consider the use of the following clause which is in common usage:"The Seller agrees to provide, at the Seller's own expense, not later than 9pm on the third business day following acceptance of this offer, an existing survey of said property."Answer:Although this is a very short claus...
10/13/2016
Fixed term best discounted preferrredrates & posted rates as of October 14 20166 mos 3.10% 3.14%1yr 2.29% 2.89%2yr 2.14% 2.84%3yr 2...
10/13/2016
Discovery of Defect Just Before ClosingWhat happens if a defect of some kind is discovered right before closing?This could easily take place on the Buyer’s final walkthrough. At this point, the Seller has moved out, and the Tenant has moved out, so things that were not quite so visible suddenly b...
10/13/2016
Terms The Bank Preferred Rates 1 Year 2.84% 2.29% 2 Years 2.79% 2.24% 3 Years 3.39% 2.49% 4 Years 4.09% 2.39% 5 Years 4.79% 2.49% 7 Years 5.85% 3.39% 10 Years 6.09% 3.69% VIRM 2.70% 2.20% The prime rate is 2.70%
10/13/2016
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.89% 2.29% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.20% Prime Rate 2.70% Benchmark Rate 4.64% Cost p...
10/11/2016
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 2.99% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.39% 2.24% 4 YEARS 3.89% 2.39% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 2.99% 10 YEARS 6.10% 3.59% Rates are subject to change without notice. OAC E&OE Prime Rate 2.70% 5 yr variable 2.30%
10/11/2016
Renovations Which Have a Big PayoffAccording to the Appraisal Institute of Canada (AIC), the top four renovations with the highest return on investment (ROI) include: Updated kitchen - the kitchen provides the best return on renovation investments. Make sure that the project is appropriat...
10/10/2016
Sales of Principal Residences Must be Reported (New 2016)(Claim it or Lose it?)The federal government has proposed changes to both mortgage qualification rules and the reporting of the disposition of principal residences under the Income Tax Act.Up until now, a taxpayer did not have to report on ...
10/07/2016
Commercial bond yields CMB GoC Floating rateinsured cost of funds 5 Year - 1.20%*Canada housing 12/15/21 [+0.03] 5 Year - 0.75%CAN 0.75 09/01/21 [+0.04] 0.95% [-] 10 Year - 1.74%Canada housing 09/15/26 [...
10/07/2016
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Strong and Robust September 2016 for GTA Market The Toronto market continues to be active. This is the September MarketWatch report:Sales Growth Continues in September October 5, 2016 – Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 9,902 s...
10/06/2016
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