ARCHIVED BLOG POSTS
2017
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 2.99% 2.34% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.29% 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 2.00% Prime 2.70% Benchmark 4.64% Rates may vary provin...
05/23/2017
Buyer’s Anticipated DefaultQuestion:Listing sells with a bully offer for a reasonable "month ago" market price (much higher than now), firm and 5% deposit.The Buyers now don't think they can sell for what they "need" in order to fund the purchase. Their Agent suggests Sellers relist now to try an...
05/22/2017
Incorporation for Real Estate Agents in Ontario Agents generally want to incorporate for tax purposes. Recent legislation will enable the ability to utilize corporations.When I refer to “agents” I really mean individual practitioners in the business, as that term is commonly understood.There are...
05/22/2017
Toronto and GTA Markets Tip Over in May 2017 (7 of 8 Indicators Down) Due to the volatility in the real estate market you will be interested in the Toronto Real Estate Board’s most recent statistics. MAY 2017 TREB MID-MONTH STATISTICSMay 17, 2017 – Greater Toronto Area REALTORS® reported 5,021 tr...
05/20/2017
Defaulting Buyer and the Seller’s OptionsQuestion:I am very suspicious that the Buyer won’t close. I am the Listing Agent and the Buyer’s Agent inquired about the possibility of a Mutual Release.Answer:This is a wonderful opportunity for the Seller. The Buyer is stuck. Make them close or let them...
05/20/2017
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 3.04% 2.34% 2 YEARS 2.84% 2.14% 3 YEARS 3.44% 2.34% 4 YEARS 3.89% 2.44% 5 YEARS 4.64% 2.54% 7 YEARS 5.30% 3.19% 10 YEARS 6.10% 3.69% Rates are subject to change without notice. OAC E&OE Prime Rate 2.70% 5 yr variable 2.00%
05/19/2017
Commercial bond yields CMB GoC Floating rateinsured cost of funds 5 Year - 1.37%Canada housing 06/15/22 [+0.05] 5 Year - 0.95%CAN 0.50 03/01/22 [+0.05] 0.99% [-] 10 Year - 1.97%Canada housing 06/15/27 [+0.04] 10 Yea...
05/19/2017
Lawsuits in the Greater Toronto Are arising in the 2017 Spring MarketQuestion:I am curious to know what grounds Buyers and Sellers have against real estate agents at the present time. I hear that there are plenty of lawsuits.Answer:The market rose and fell very quickly. That was a surprise. The s...
05/19/2017
Assignments Can Cause Difficulties Over Closing Dates (Ontario)Question:I represent assignees in an assignment for a detached home. The assignment states that other than the deposit for the assignment (25k) all payments and the deposit for the original APS are to be paid upon closing of the origi...
05/19/2017
Fixed term best discounted rates & posted rates as of May 18, 2017 6 mos 3.10% 3.14%1yr 2.34% 3.04%2yr 2.14% 2.84%3yr 2.34% ...
05/18/2017
Rainmaker
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1,598,222
Brian Madigan
LL.B., Broker
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