ARCHIVED BLOG POSTS
2016
Terms Posted Rates Preferred Rates 6 MONTHS 3.14% 3.10% 1 YEAR 2.99% 2.29% 2 YEARS 2.84% 2.14% 3 YEARS 3.39% 2.24% 4 YEARS 3.89% 2.39% 5 YEARS 4.64% 2.49% 7 YEARS 5.30% 2.99% 10 YEARS 6.10% 3.59% Rates are subject to change without notice. OAC E&OE Prime Rate 2.70% 5 yr variable 2.30%
10/31/2016
Commercial bond yields CMB GoC Floating rateinsured cost of funds 5 Year - 1.17%Canada housing 12/15/21 [+0.02] 5 Year - 0.73%CAN 0.75 09/01/21 [+0.02] 0.95% [-] 10 Year - 1.79%Canada housing 09/15...
10/28/2016
Agent Makes Investment Property Errors (RECO Discipline) This is another RECO Discipline Case. In this situation, Wilma Flintstone made some errors. She acted for Betty Rubble in the purchase of an investment property, that is, one for rental.Betty signed a Buyer Representation Agreement (BRA) a...
10/27/2016
Terms The Bank Preferred Rates 1 Year 2.84% 2.29% 2 Years 2.79% 2.24% 3 Years 3.39% 2.49% 4 Years 4.09% 2.39% 5 Years 4.79% 2.49% 7 Years 5.85% 3.39% 10 Years 6.09% 3.69% VIRM 2.70% 2.20% The prime rate is 2.70%
10/27/2016
Documenting a Co-operating Commission IncreaseQuestion:I am a Listing Agent. The Listing is at 4.0% with 2.0% being offered to the Co-operating Brokerage.The Buyer’s agent wants his side increased from 2.0% to 2.5%. He says that is what was specified in his Buyer’s Representation Agreement.My S...
10/27/2016
Agent Backdates Documents and Witnesses Without Being Present (RECO DisciplineBarney Noble had a listing of a condominium. His friend and real estate agent, Bill sent him a referral from Quebec. Barney arranged for Omar to handle the transaction on behalf of Buyer Bob. To make things just a littl...
10/26/2016
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 2.89% 2.29% Fixed 2 Year 2.84% 2.14% Fixed 3 Year 3.39% 2.20% Fixed 4 Year 3.89% 2.44% Fixed 5 Year 4.64% 2.39% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.84% Variable Rate 2.20% Prime Rate 2.70% Benchmark Rate 4.64% Cost per ...
10/26/2016
Buyer’s Remedy if Size of Bedroom Falls Short of Advertised Question: It turns out that one of the bedrooms in a 2,500 sf house is short by 40 sf. It is 4 ft less in width over 10 feet. What does this mean for the Buyer? Answer:The issue of size needs to be considered from the perspective of imp...
10/26/2016
Prescriptive Easement for Right of Way (Ontario)Question:I am about to submit an Offer on a cottage property. Access requires travel over the properties of three adjacent owners. This arrangement has been going on since the 1970’s. There’s no written agreement. There’s nothing in the Registry Off...
10/25/2016
Fixed term best discounted and posted rates as of October 25, 20166 mos 3.10% 3.14%1yr 2.29% 2.89%2yr 2.14% 2.84%3yr 2.24% ...
10/25/2016
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Brian Madigan
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