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Four of Canada’s biggest banks are once again lowering residential mortgage rates at a time when falling government bond yields are cutting funding costs for financial institutions. Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia and Bank of Montreal are all trimming their posted rates on popular five-year fixed-rate ...

Fixed Rates:  Have gone up.   5 year term fixed rates range from 3.94% to 4.09% depending on "real deal" vs pre-approval, size of mortgage, and length of time until closing. Variable Rates: Have gone down a little. 5 year variable rate 2.20% (prime minus 0.80%) 3 year variable rate 2.15% The rate used by lenders to ...

Royal Bank of Canada, the country’s largest bank, is leading the way on another round of mortgage-rate hikes, boosting borrowing costs in April for the third time in recent weeks. The rate on a five-year closed mortgage is now 6.25 per cent, an increase from the previous rate of 6.10 per cent. A one-year closed rate will, as of ...

5% Down Payment is still available at the lowest interest rates, assuming provable income and good credit. 1.85% variable rate and 3.69% 5 year fixed rate. Stated Income has become more difficult: Stated income allows business for self and commission borrowers to "state" the amount of their income rather than "prove it" by ...

In the first two weeks of October, Greater Toronto REALTORS® reported 3,631 sales – up 34 per cent compared to the first two weeks of October 2008. The average price for these transactions was up 17 per cent year-overyear to $414,479. "While demand for existing homes has remained strong, it is important to recognize the context of ...

TREB Members reported 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006, TREB President Maureen O’Neill announced today. “Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during 2006.” The ...

Prices for new housing in Canada fell for the second straight month in November due to flat or lower prices in the western provinces where real estate markets were previously booming, said Statistics Canada. Prices fell 0.3 percent from October, in line with market expectations. That knocked down the year-on-year price increase to 0.7 percent from ...

The Greater Toronto Area resale housing market reported 5,155 sales in October, Toronto Real Estate Board President Maureen O’Neill announced. This represents a 35% decline from the 7,915 sales reported in October 2007 and a 25% decrease from the 6,876 transactions that took place during the same period two years ago. In the City of Toronto, ...

The McGuinty government is giving all first-time homebuyers a break on land transfer tax by proposing to expand the Land Transfer Tax Refund Program to include purchases of resale homes, Finance Minister Dwight Duncan announced today.“Expanding this Land Transfer Tax refund is an important part of our government’s commitment to helping ...

Hats off to the Bank of Montreal for starting a practice that all financial institutions should have in place, and could even improve upon.BMO has announced that prospective homebuyers who take out a five-year fixed-rate mortgage and existing homeowners who renew for a five-year fixed rate, by Oct. 31 of this year, will not have to pay basic ...