ARCHIVED BLOG POSTS
2018
Terms Posted Rates Our Rates 6 mos 3.14% 3.10%1 year 3.04% 2.99%2 year 3.24% 3.24%3 year ...
06/24/2018
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Conditions Subsequent In this case, the deal has been struck. The contract is binding but it does contain an "escape clause". The buyer has for example the right to terminate the agreement upon certain conditions. These are all the same reasons that you might have included in a condition preceden...
06/24/2018
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True Conditions Precedent This is a sub-category of conditions precedent, but it is rather unique in nature. The condition benefits both parties. Examples might include the compliance with the provisions of the Planning Act or registration of a condominium. If a vendor and purchaser enter into an...
06/24/2018
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Conditions Precedent There is no deal, until the condition is fulfilled, satisfied or waived. Usually, the condition will relate to a specific matter like mortgage financing or the physical state of the premises. Once it is satisfied, then in order to confirm the transaction and make sure that th...
06/24/2018
Term Posted Rate Preferred Rate Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.99% Fixed 2 Year 3.24% 3.19% Fixed 3 Year 3.44% 3.09% Fixed 4 Year 3.89% 3.44% Fixed 5 Year 5.14% 3.29% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.99% Variable 2.40% Prime 3.45% Benchmark 5.34%
06/24/2018
Commercial Bond Yields CMB GoC Floating RateInsured Cost of Funds 5 Year - 2.35%*CANHOU 12/15/23 [-0.03] 5 Year - 1.98%CAN 1.75 03/01/23 [-0.03] 1.70% [-] 10 Year - 2.56%*CANHOU 12/15/28 [-0.01] 10 Year - 2.12%CAN 2.0 ...
06/24/2018
No New Consideration Required for Contract AdjustmentsParties engage in a contract. Then, there are some extensions and adjustments etc. Both parties expect to be bound by these modifications. But, the contract is only good for so long. After the limitation runs, the aggrieved party can’t sue. So...
06/20/2018
Court Changes Basic Contract Law: ConsiderationThe British Columbia Court of Appeal just changed the law of contracts on 18 May 2018. It dealt with the issue of “consideration” and appeared to get around a long standing rule of the Supreme Court of Canada.Mrs. Toca borrowed money from Mrs. Rosas,...
06/19/2018
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Order of Clauses in an Agreement (Ontario)Question:Is there a specific order for the clauses in Schedule B to appear. Answer:The usual order would be:PaymentsAdditional depositsSeller Take Back MortgageBalance DueConditionsMortgage FinancingInspections etc.TermsVisitsDelivery of survey etc.
06/18/2018
TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.04% 2.99% Fixed 2 Year 3.24% 3.19% Fixed 3 Year 3.44% 3.09% Fixed 4 Year 3.89% 3.44% Fixed 5 Year 5.14% 3.29% Fixed 7 Year 5.30% 3.44% Fixed 10 Year 6.10% 3.99% Variable Rate 2.40% Prime Rate 3.45% Benchmark Rate 5.34% Cost per ...
06/18/2018