Exceptionally low interest rates, government incentives (rebates, tax breaks and RRSP contributions), the looming HST and a renewed consumer confidence puts Canada as the world leader when it comes to the recovery of the global real estate market.
In a recent report on Global Real Estate Trends written by Adrienne Warren of Scotiabank, Canada is leading the way in the global real estate recovery with ...
Posted by Sean Kavanagh
on January 22, 2010
Canada and more specifically Ontario appears to have avoided any lasting impact from the collapse of the US housing market and the subprime mortgage market meltdown. What we have seen over the past 18 months was fear versus demand and fair market values relative to the true economic environment in Ontario. From the price stability we have seen, I would say we are on great footing going forward. The ...
Posted by Sean Kavanagh
on January 14, 2010
There's no need for the Ontario government to hold public hearings on its plan to harmonize the provincial sales tax with the GST next July, Premier Dalton McGuinty said Wednesday, adding that voters can pass judgment on the issue in the 2011 provincial election.
Basically, McGuinty is telling the public he plans to ram this tax down your throat whether you like it or not and it doesn’t matter ...
Posted by Sean Kavanagh
on November 18, 2009
House hunters still waiting for prices to drop further before buying may have sat on the sidelines too long, according to a new report. A study released Thursday shows home values in some major markets across Canada have recovered to levels where they were before the recent market drop. Economists agree and say the power has shifted to a seller's market in recent months, after the buyer's ...
Posted by Sean Kavanagh
on September 29, 2009
Mortgage rates have eased slightly for both the fixed rates & the variable rate mortgages.
The 5 year fixed rate has finally come back down below 4% to 3.99%. The variable has also moved down to prime (2.25%) plus .15% on a 3 year term & prime plus .20% on a 5 year term. The variable seems to be the way to go, as the economists are now predicting that the Bank of Canada rate will ...
Posted by Sean Kavanagh
on September 9, 2009
Sales of homes in Canada jumped 31.5 percent in the second quarter from the first and saw their first year-over-year quarterly increase since before the peak of the financial crisis, the Canadian Real Estate Association said on Tuesday. The report is the latest piece of evidence showing that consumers are venturing back into the home market, encouraged by low mortgage rates and signs that the worst ...
Posted by Sean Kavanagh
on July 15, 2009
A new survey has found that 78 percent of potential first-time home buyers say that now is a good time to buy a home, despite widespread concern about the economy. Out of the 1,000 prospective first-time home buyers surveyed in early March for the CENTURY 21 First-Time Home Buyer Survey, 68 percent think now is a better time to buy than six months ago.
Prices are the driving motivation for potential ...
Posted by Sean Kavanagh
on April 1, 2009
First-time homebuyers are being lured into the real-estate market by falling prices, lower interest rates, more selection and new government tax credit incentives. Century 21 Miller Real Estate in Oakville, Ontario has reported that sales were up in February, after a terrible January, driven by more first-time buyers entering the market. Many renters are deciding to stop paying the landlord's mortgage ...
Posted by Sean Kavanagh
on March 31, 2009
With the housing industry struggling to recover, the provincial government has implemented a new tax plan to set the industry back yet again.
Dalton McGuinty's government's plan to harmonize the 8-per-cent provincial sales tax with the 5-per-cent federal goods and services tax will add an extra financial burden on those interested in venturing into the housing market. The new blended sales tax will ...
Posted by Sean Kavanagh
on March 30, 2009
Term Rate
6 Months 5.00% 1 Year 3.25% 2 Years 3.79% 3 Years 3.99% 4 Years 3.94% 5 Years 3.99% 7 Years 4.95% 10 Years 5.25% Prime 2.50% Variable 3.30%
Let me help you save money! Send me your email address or give me a call and I'll ...
Posted by Sean Kavanagh
on March 28, 2009