Mortgage Rates Could Drop…

Interest Rates May Be Coming Down

Canadian fixed-term mortgage rates could fall to even more affordable levels after roiling financial markets pushed the yield on five-year government bonds to record lows on Tuesday. As investors fled equities in recent days, money poured into the haven of Canadian government bonds, pushing prices up and yields down sharply. Because banks borrow government bonds to help finance their fixed-rate mortgages, there is a tight link between five-year bond yields and five-year mortgage rates. “We have seen a precipitous drop in five-year bond yields,” said Toronto-Dominion Bank chief economist Craig Alexander, mainly because Canadian bonds look so attractive because of … Read more

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July Market Watch

Greater Toronto REALTORS® reported 7,922 transactions through the TorontoMLS® system in July 2011, representing a 23 per cent increase over July 2010. Total sales through the first seven months of this year amounted to 55,863 – down by 1.3 per cent compared to the same period in 2010. After adjusting for seasonal fluctuations, the July figure continued to point to an annual sales result close to 90,000 – in line with results from the previous six months. “Strong home sales continued in July, with a substantial rebound over last summer’s slow-down brought about by higher mortgage rates, new lending guidelines … Read more

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Rent to Own Deals

Last month I received an email from a firm billing itself as a “very successful real estate investment firm that invests heavily in something called rent-to-own.” The e-mail offered several “hot deals” that were “going fast.” Three were on behalf of “high income” tenants now looking to buy a home in or near Toronto, and one was an offer to sell a “premium Mississauga lakeshore rental” home with tenants already in place. The offers promised annual returns of 20.98 to 26.72 per cent to investors who would buy the properties and lease them to tenants with an option to purchase … Read more

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JUST LISTED: 1121 Steeles Ave West #301 – $304,900!!

2 Bedroom + 2 Bathroom = Approx. 1,200 sq ft!!!

Live At The Primrose! Spacious & Bright, Open Layout Luxury Corner Unit!, Incredible South East Panoramic View, Split Bedroom Layout + Sun Den, Eat-In Kitchen, In-Suite Laundry With Extra Storage! Extras: Washer, Dryer (Newer), Dishwasher, Stove (S/S Newer), Fridge, New Custom Built Blinds! Resort Like Gated Complex, 24Hr Gatehouse Security, Steps To Ttc, Shops, G. Ross Lord Park, Parking Next To Elevator, Swimming Pool, Tennis Courts. ArrayArrayArrayArrayArrayArrayArrayArrayArrayArrayArrayArrayArrayArrayArrayArrayArrayArrayArrayArray

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