Buying, Renovating and Selling Real Estate in Toronto
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Small mortgage rate increases

Small mortgage rate increases of 0.01 to 0.02% started in the last few weeks. If you’re shopping for a new home and haven’t got a pre-approval and locked-in rate, I can point you in the right direction! Mortgage rates are on the move, upwards | Toronto Star www.thestar.com
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BMO reinstates 2.99% mortgage rates

BMO
This week BMO announced a cut to its mortgage lending rates, from 3.09% to 2.99% on 5-year fixed-rate mortgages.  In the middle of last year, most financial institutions increased their rates from 2.99% to 3.09% after the Federal Government changed lending rules to make it a littler h
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To buy or not to buy? That is the question

My friend Joe Sammut at Mortgage Architects put together this handy comparison of what you could afford to purchase with the same amount you pas as rent. Just note that this is just a one-to-one comparison of rent to mortgage amount.  You would likely need to factor in maintenance fee
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Bank of Canada rates remain unchanged

Bank of Canada Building
No surprise that the Bank of Canada today announced that it will be holding its trendsetting rate at 1%.  The last increase was September 2010, when the rate was increased by 0.25%. Most people were expecting this, given the slow economic expansion in the US, the European recession an
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A belt-tightening for home equity lines of credit

House squeezed by clamp
I was talking to my neighbourhood banker today, and he let me know that as of Monday, August 20th, TD Bank (along with a few other banks, like RBC) will be changing the loan to value ratio for their home equity lines of credit (HELOCs).  It’s currently at 80% LTV and it will be
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Bank of Canada holds interest rate at 1%

Bank of Canada Building
Today the Bank of Canada announced that it is keeping its overnight lending rate at 1%.  The last change by the Bank of Canada was in September of last year, when the rate was raised from 0.75% to 1%.  I expect that today’s announcement will keep a steady flow of buyers into the
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