TERM POSTED Preferred RATES* Open 1 Year 6.30% 6.30% Fixed 1 Year 3.59% 3.04% Fixed 2 Year 3.74% 2.89% Fixed 3 Year 3.89% 2.79% Fixed 4 Year 3.94% 2.94% Fixed 5 Year 5.34% 2.74% Fixed 7 Year 5.80% 2.99% Fixed 10 Year 6.10% 3.04% Variable Rate 2.90% Prime Rate 3.95% Benchmark Rate 5.34% Cost p...

07/05/2019

Commercial Indicators - 5 July 2019 (Toronto and GTA)

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Commercial Bond Yields CMB 5 Year - 1.87%* CANHOU 12/15/24 [+0.10] ‌ 10 Year - 1.95% CANHOU 09/15/29 [+0.09] * denotes interpolated rate GoC 5 Year - 1.52% CAN 1.50 09/01/24 [+0.09] ‌ 10 Year - 1.56% CAN 2.25 06/01/29 [+0.10] GOC Bonds are for reference purposes only Floating rate insured ...

07/05/2019

Toronto Market in June 2019

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Toronto and GTA Markets in June 2019 This is the recently released report of the Toronto Real Estate Board concerning the June 2019 results: GTA REALTORS® Release June 2019 Stats TORONTO, July 4, 2019 – The new President of the Toronto Real Estate Board, Michael Collins, announced that ...

07/04/2019

Over-Holding Seller and Related Problems (Ontario)

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Over-Holding Seller and Related Problems (Ontario)The Sellers were to have vacated by 1:30 pm. The problem is that no one told them that including their own lawyer. Mid-morning on the day of closing, no one could have told them that it would have closed for sure at 1:30 pm. So, to a certain exten...

07/04/2019

Non-Resident Sales Tax and Citizens (Ontario)

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Non-Resident Sales Tax and Citizens (Ontario)Question:If someone is a Canadian Citizen but a non-resident. Do they still pay foreign buyer land transfer tax of 15%? Or it doesn't apply? I'm confused because they would still be a non-resident, but they are a Canadian citizen. Answer:No. The NRST i...

07/04/2019

Back Dating the Buyer’s Representation Agreement (Ontario)

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Back Dating the Buyer’s Representation Agreement (Ontario)Question:Can a BRA be back dated?For example, you date a Buyer Representation Agreement (BRA) as of Saturday. You then meet the clients and go over it. They want to take it home to read over and on Monday are ok signing it.Can they sign i...

07/04/2019