INTEREST RATES UPWARD CLIMB

The Bank of Canada has begun to tighten their monetary policy with a 25 basis point hike, increasing the overnight target rate to 0.50%. This move was expected due to the strong Q1/2010 GDP performance. The text of the announcement highlighted Canada’s strong performance, noting the robust first quarter growth and employment growth resumption. It …

Posted in Home Finance

Green Upgrades – Grants Available!

Take advantage of the Ontario Home Energy Savings Program and the federal ecoEnergy Retrofit program. Homeowners can receive up to a combined maximum of $10,000 in grant money. Only homes that have had a residential energy efficiency audit performed by a certified energy advisor will be eligible for these grants. Here’s what you need to …

Posted in Home Renovation, Rebates

HST

There’s lots of confusion about how HST will affect all kinds of purchases. Here’s a short explanation of its impact on a real estate transaction: The HST will have more of an impact on new construction home sales over $400,000, as the purchase price of these homes will be subject to HST. The effect on …

Posted in Buying and Selling

Financing Your Home Renovation

Home renovations can be a great way to improve the value of your home for sale or to enhance your living space for you yourself to enjoy. Whatever your reason, you ‘ll need to determine your budget before getting started. Once you have an idea of what the job will cost, you have to decide …

Posted in Home Renovation

New Lending Rules Will Affect Home Purchases

Federal Finance Minister Jim Flaherty announced three new rule changes connected to government-backed insured mortgages.  These changes have been anticipated and many lenders had already put them into practice.  They become mandatory on April 19th, 2010. The first relates to higher qualification rates. Since interest rates are at an all time low, there’s been some …

Posted in Home Finance

Growth in home sales

Jason Mercer, TREB’s senior manager of market analysis said that, “The number of existing home sales in the fourth quarter will be well ahead of the volumes experienced during the last three months of 2008. I am confident that the number of transactions will push through the 80,000 mark and perhaps be hovering around 85,000 …

Posted in Buying and Selling