Arlene Mazerolle

Invest In Your Future

13 November 2014
Arlene Mazerolle

Investing in TORONTO Real Estate is one of the most rewarding financial moves you will ever make.

It continues to be a Seller's Market in Toronto. Listing this November is still a wise choice. "The multitude of willing buyers in the marketplace coupled with the short supply of listings will continue to translate into very strong annual rates of price growth in the fourth quarter" (Jason Mercer. Toronto Real estate Board's director of market analysis).

"A 30 basis-point drop in mortgage rates earlier this year has delivered households an offer they can't refuse. With mortgage rates at record low levels, housing affordability has improved. Cuts to interest rates of that degree have typically boosted sales by 30 to 40 percent over a six-month period, which suggests the momentum may continue..." (Diana Petramala, TD Economist)

Check with your bank or mortgage broker, some are still offering a 30-year amortization period, which can translate into a few hundred dollars off your monthly mortgage payment. Act soon, as there is less than a month remaining for this offering.

NB: First time home buyers can withdraw RRSP's up to $25,000 without penalty, and receive rebates on Land Transfer Taxes: Up to $2,000 for the Ontario Land Transfer Tax and up to a $3,725 for the City of Toronto LTT.

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