In many real estate markets, prices appear to have fallen enough to make buying cheaper than renting. When you combine falling housing prices with mortgage rates that are near record lows, renters are now finding it easier to jump into home ownership.
Historically, people rented because they couldn't afford to buy. Prices have dropped so much in certain real estate markets that monthly mortgage ...
Posted by Sean Kavanagh
on March 27, 2009
On the heels of the Government unveiling their 15% income tax credit for home renovations, I thought I would send you some information on the three areas of your home where renovations will really pay off when you want to add value to your home.
The Kitchen: The kitchen is the best place to put your money, hands down. According to the Appraisal Institute of Canada, the average amount home-owners ...
Posted by Sean Kavanagh
on March 27, 2009
Interest Rate Watch - March 21, 2009
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 ...
Posted by Sean Kavanagh
on March 21, 2009
Open house at 23 East Bend Avenue South in Hamilton on Sunday March 15th between 2:00pm and 4:00pm.
Great family home located steps from Gage Park. Freshly updated 4 bedroom, 2 1/2 storey beauty. Loads of character with original hardwood throughout first floor and new carpet on staircase. Recently upgraded kitchen w/ceramics with walkout onto large deck and fenced in yard. Separate dining ...
Posted by Sean Kavanagh
on March 10, 2009
Bargain basement borrowing costs are prompting many Canadians to opt for fixed mortgages even though variable products continue to be a money-winning option for the foreseeable future, industry observers say.
Canadian Imperial Bank of Commerce's chief economist Benjamin Tal says variable rate mortgages should produce the greater benefit for the next two to 2.5 years, but be a wash over five years. ...
Posted by Sean Kavanagh
on March 10, 2009
When you pair falling housing prices with record low interest rates, both variable and fixed, many financial experts have deemed a home purchase in this market "a no-brainer."
Even though the financial experts have labelled a home purchase a "no brainer", consumers' fear is keeping them from taking advantage of the great opportunities out on the market today. As prices for most consumer goods, cars ...
Posted by Sean Kavanagh
on March 10, 2009
Canada's housing industry is thrilled with the government's new budget, which provides up to $7.8 billion in tax relief and funding for everything from home renovations to housing for low-income seniors. From First Nations housing to first-time buyers' incentives, there's something for almost everyone.
The Conservative government came through on its election promise to help first-time buyers with ...
Posted by Sean Kavanagh
on March 7, 2009
Term Rate 6 Months 5.00% 1 Year 3.90% 2 Years 3.90% 3 Years 4.00% 4 Years 4.09% 5 Years 4.19% 7 Years 5.70% 10 Years 6.05% Prime 3.00% ...
Posted by Sean Kavanagh
on February 28, 2009
Market Watch
2,670 Resale Housing Transactions in January
Toronto Real Estate Board Members reported 2,670 sales in January from the 5,075 sales reported in the first month of 2008. Of these, 1,106 transactions took place in the City of Toronto compared to 2,128 in January 2008. In the surrounding "905" area, 1,564 sales were recorded, from 2,947 last year.
The GTA housing market has not been ...
Posted by Sean Kavanagh
on February 17, 2009
Interest Rate Watch as of Friday, February 14, 2009
Term Rate
6 Months 5.20% 1 Year 3.89% 2 Years 3.99% 3 Years 3.75% 4 Years 4.19% 5 Years 4.19% 7 Years 5.90% 10 Years 6.35% ...
Posted by Sean Kavanagh
on February 17, 2009