The bank of Canada increased the overnight rate by 25 basis points June 1st and in the middle of July, this marked the first rate change since March 2009 when the bank reduced the rate from .50 percent to .25 percent. The overnight rate is expected to increase in the coming months, mortgage rates, particularly [...]
Sales behind and prices lag a bit on the Barrie Real Estate Board. Sales numbers for June are in 370 sales on the board for 2010, but was 610 last year in 2009; a 40% decrease in volume. This lack of buyers is forcing home owners to negotiate more than they normally would. So if [...]
The Harmonized Sales Tax also known as HST WILL NOT AFFECT RE-SALE HOMES! It will only affect the Real Estate Commission, Lawyer Fees & Home Inspection Fees. The HST also starts July 1st, 2010 for houses sold. If your deal is firm before June 28th, the HST will NOT apply. HST will apply only on [...]
From The Ontario Ministry of Revenue : http://www.rev.gov.on.ca/en/taxchange/hst.html
As announced in the 2009 Ontario Budget, the Provincial Sales Tax (PST) will be replaced with a more modern, value-added tax that will be combined with the federal Goods and Services Tax (GST) to create a Harmonized Sales Tax (HST) for Ontario, effective July 1, 2010.
The provincial portion of the [...]
Announced last night Wed May 20th on the national the Bank of Canada will not be putting interest rates up on June 1st as the dollar had slid too far. Excellent news for home buyers.
Home sales very strong in April 2010, coming in just nine sales below the record for the month set back in 2007. This represents the second best month of April on record for sales. Demand has continued to run very strong, and this has been putting upward pressure on prices.
“Wow, you have made the big decision to buy a home. Now what do you do?
The majority of home purchasers will select a knowledgeable Realtor to show them numerous homes and negotiate the best possible price for their dream home. When purchasing or selling a home with a Realtor, make sure you sign an Agency [...]
Bank of Canada set to raise rates again today for 2nd time this month. Rates are at historic lows so a point or 2 rise is not going to change much. Don’t be panicked into any decisions. Variable rate is still the best deal out there. The most I see as a rise is a total [...]
For many people, mortgage payments are their single largest expense. Yet, when financing a home, most Canadians don’t comparison shop to ensure they’re getting the best mortgage rate and terms available. This mistake can cost homeowners tens of thousands of dollars over the course of their mortgage.
Here are seven ways mortgage brokers can help:
1. Access [...]
After two excellent months of sales in the $250,000 and under price range we are short on inventor in the price range; not the other ranges. If you are thinking of selling & your home is worth under the $250,000 mark, now is the time to list. If you are a 1st time home buyer, be [...]
