Mortgage rates haven't moved much this week, and 2.99% for a 4 year fixed term is still available on owner-occupied properties (including owner occupied rentals if you happen to have a du, tri, or fourplex and live in one of the units). Five year fixed are hovering around 3.29% - 3.49% depending on the lender (and whether or not you want a full service mortgage - so 'no frills' offers are lower), and the variable 5 year is anywhere from 2.60% … [Read more...]
Home Sales Expected to Rise, Real Estate Association Says
Ottawa Citizen The Canadian Real Estate Association has raised its outlook for home sales this year, pointing to an improving economic outlook and strengthening consumer confidence. Sales in 2011 are expected to total 439,900 units, which is still down 1.6 per cent from 2010, the industry group said Tuesday. Its previous forecast was for a nine-per-cent decline this year to 402,500 units. However, it forecasts sales to rise three per … [Read more...]
Why Buyer Protection Plan for the Ottawa Real Estate Market?
A Shifting Market Requires a Shift in Thinking As the Real Estate markets across Canada shift through a balanced market to a buyers market, behaviours become very predictable. Buyers Buyers adapt very quickly to a changing market. Buying a home is and always has been an emotional decision first and a financial one second. A shift to a buyers market has everything to do then with buyers who are fearful, running to the safety of the herd and … [Read more...]
But I Moved and the Statement Went to the Wrong Address…
This may come across as a little harsh, but I can't tell you how often we hear this when it comes to a client's credit score being 'low' when we are doing a credit report in the process of arranging a mortgage for them. Here is how it usually plays out; we do a credit check and there is a 'mystery' collection or an account that was written-off (rated R9) with a creditor; we ask what the reasoning was and get 'well I told them I was moving and … [Read more...]
How to Make That Dream Home Perfect
Found that perfect home, but it needs a little TLC? Maybe some new carpets, a finished basement or some new windows? Don't have the extra cash? Why not add the cost to your mortgage? … [Read more...]
