Canadians, buoyed by a budding housing market recovery, took on more debt in June as they tapped banks for a variety of loans tied to real estate, says a report released yesterday by TD Economics.
Total bank-issued credit to households grew by 1 per cent in June from May. On a year-over-year basis, household credit increased by 9.9 per cent. … Continue Reading
For those of you that own a property and have a variable mortgage (myself included), how excited are you about interest rates having been dropped yet again on yesterday by .05% making it 3.25% on a variable rate mortgage and 4.15% on a fixed rate mortgage for a 5 year term, yay!!! Yes, I am now doing my happy dance although you can’t see it 
So, now the ? is, what are your plans for that extra cash that is just laying around in the bank, now that the banks are pretty much giving it away for free to try and stimulate our economy? Let’s put it back into real estate, and keep spending going people!! Not that I am biased or anything, I know I am a real estate Broker and all that, so of course you’d think I’d be trying to encourage you to buy now, even though the rest of the world is telling you that the sky is falling. But think on this a moment, for those of you that have seen this come before.
Everyone is waiting for prices to drop further, and further until we are at an all time low, but remember the saying “what comes up, must go down”, if you hold on to the theory of waiting for the market to bottom out, you’ve just missed your opportunity, because by the time that happens, and it will, sure enough the market is going to soar and soar quickly. Then what side are you going to be on?? The side that says you’ve just missed the boat on this one!
This theory has been proven time and time again, so be on the winning side and act now before interest rates climb back up. Now is your chance to get into the home you’ve always wanted but could never afford.
The biggest story in the Toronto condo market over the past 6 months has been the disparity between supply and demand. Simply put, inventory (condos available for sale) is at an all time low, and demand is at an all time high. This has been a recipe for rapid price appreciation, frenzied buying, and sellers [...]
Starting July 1, 2010 Ontarians can expect to pay a harmonized sales tax (HST) rate of 13% on a long list
goods and services that were previously exempt from the 8% Provincial Sales Tax (PST). While the impact of the tax will be felt by all Ontarians, the province’s 3 million homeowners and the thousands who [...]
All owners should have and maintain a comprehensive condo insurance policy to cover damage to their personal possessions as well as to their upgrades and to cover any damage that they might incur to a suite below or adjacent to theirs as a result of an accident, negligence or, as stated in a condo’s declaration [...]