Economy 52,864 Posted April 11, 2015 Share Posted April 11, 2015 http://business.financialpost.com/personal-finance/mortgages-real-estate/canadas-mortgage-wars-hit-new-low-as-fixed-rate-dips-to-1-49 Mortage wars continue in Canada. As cranes dont stop all over the largest cities (Toronto currently has the most skycrapers under construction in the entire Western World) and as construction remains robust, banks and credit unions continue to offer ever lower mortage rates in order to try and buy up market share and customers Economists were sounding the bells on the red-hot housing market being ever more over-heat as Canadas Big 5 banks (combined they make up 90% of Canadas financial system) offered fixed-mortages of 2.8% and variable mortages of little over 2% Now Ontarios biggest credit Union says it will buy up market share by offering a fixed mortage of 1.49%. The offer will last for at least 18 months it claims The ever lowering interest rates however are resulting in this: Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted April 11, 2015 Share Posted April 11, 2015 Probablaly wil see a price spike in property alues as demand will increase with more qualified borrowers.If I was a realestate investor, I would think that Toronto/Missaugua would be attractive right now before the price jump. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 52,864 Posted April 11, 2015 Author Share Posted April 11, 2015 Probablaly wil see a price spike in property alues as demand will increase with more qualified borrowers.If I was a realestate investor, I would think that Toronto/Missaugua would be attractive right now before the price jump.i dunno how much higher it can rise in Toronto tho. Like close to downtown forget about buying a house for under $1 Million even if its a small piece of crap... and in the outer skirts of Toronto if your lucky u may get an old house for $450,000 if your luckyMississauga is a bit more fair value i think. Its expensive but has room to grow and its starting to become a condensed city too so long term that may offer an alternative to ppl who wanna live in the big city but cant afford Toronto amnd so prices will rise in Mississauga somewhat The construction is insane tho check this out. it lists the skyscrapers under construction, the ones approved already but yet to begin and the ones proposed. they are all pretty tall http://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Toronto#Under_construction Link to post Share on other sites More sharing options...
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