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Real Estate Forecast for 2018: What to Expect!

Real Estate Forecast for 2018: What to Expect!

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Real Estate Forecast for 2018: What to Expect

As we head into a new year, the most common question we receive is, “What’s the outlook for GTA’s real estate in 2018?”

 

It’s not just potential buyers and sellers who care; current homeowners also want reassurance about the value of their investment. No one knows exactly what 2018 will bring, but we’ve outlined expert predictions on where the market is headed and how government interventions are expected to impact the Canadian housing market in the year ahead.

HOUSING PRICES WILL REMAIN HIGH IN URBAN CENTRES

Although the Toronto real estate market did experience a slowdown in 2017, housing affordability will remain a major issue in both Toronto and Vancouver in 2018. According to the Royal Bank of Canada’s most recent Housing Trends and Affordability Report, as of Q2 2017 it cost more than 75 percent (Toronto) and 80 percent (Vancouver) of median household income to cover the average cost of owning a home.1

In an effort to stabilize prices, both the Ontario and British Columbia governments enacted a 15 percent tax on foreign investments in housing. However, according to the PricewaterhouseCoopers report on Emerging Trends in Real Estate: Canada and the United States 2018, “Industry players are skeptical that recent tax moves … to curtail foreign investment will have a long term cooling impact on housing affordability in Toronto and Vancouver.”2

In its Canadian Regional Housing Outlook, TD Economics predicts ”The decline in sales activity in both Vancouver and Toronto has helped to redistribute the balance of power from a pure seller’s market, back towards buyers, as evidenced by the sales-to-listing ratios. But, first-time homebuyers sitting on the sidelines waiting for higher interest rates to trigger a market crash may be holding their breath for a while. Prices are likely to only reset back to levels that existed prior to a year of exorbitant gains.”3

The high cost of living has forced a growing number of millennials to seek alternatives to traditional housing. The 2016 census found 47.4 percent of young adults in Toronto and 38.6 percent in Vancouver live with a parent. PricewaterhouseCoopers predicts a rise in multi-generational and multi-family homes, a move towards larger condominiums to suit growing families, and a flight from urban cores as new public transit projects make commuting more feasible.2

What does it mean for you? If you’re a current homeowner, you can expect your investment to hold its value and continue to appreciate over the long term. And if you’re considering selling this year, contact us to request a free Comparative Market Analysis to find out how much you can expect your home to sell for under current market conditions.

If you’re a potential buyer who has been waiting for real estate prices to drop, don’t expect a fallout any time soon. Governmental bodies have taken steps to slow down skyrocketing prices, which has helped to balance the market. Now is a great time to buy. And if traditional housing options don’t fit your budget, we can help you find alternatives to meet your needs.

GOVERNMENT INTERVENTIONS WILL HELP TO STABILIZE THE MARKET

Skyrocketing real estate prices have caused Canadians to take on a growing amount of debt. The federal Parliamentary Budget Office (PBO) reports that the average household indebtedness is up to 174 percent of disposable income, and they predict it will reach 180 percent by the end of 2018. Coupled with rising interest rates, the share of income that will go towards debt payments is expected to reach historic proportions.4

Regulators at the Office of the Superintendent of Financial Institutions (OSFI) have attempted to curb the potential fallout with interventions, the latest of which went into effect on January 1. These new regulations raise the requirements for mortgage borrowers with down payments of 20 percent or more. They are now required to qualify for a mortgage at an interest rate two percentage points higher than their current rate to ensure they can manage payments when interest rates do inevitably rise.

A similar “stress test” was enacted in 2016 for borrowers who put down less than 20 percent, but that regulation impacted a much smaller percentage of buyers.

According to Jeremy Rudin, the head of OSFI, “We clearly see the potential risks caused by high household indebtedness across Canada, and by high real estate prices in some markets. We are not waiting to see those risks crystallize in rising arrears and defaults before we act.”5

All federally regulated financial institutions will be obligated to utilize these requirements for both new mortgages and mortgage renewal applications of borrowers applying to switch lenders. It is not mandatory to apply the test at mortgage renewal for existing borrowers. Since credit unions are regulated provincially, they are not required to follow the new OSFI rules, although some may choose to out of prudency.

What does it mean for you? With new rules in effect, if you’re a buyer, your purchasing power may be impacted. If you’re concerned you may not be able to meet these requirements, securing your mortgage through a credit union may be an option. We are following this issue closely. Give us a call so we can discuss how these new rules will affect your home search.

If you’re considering selling your home this year, these regulations could alter the type of buyer who will be willing and able to purchase your home. We have expertise in this area and know how to market your home to a changing demographic.

5 YEAR MORTGAGES WILL MAKE A COMEBACK

Expect interest rates to rise in 2018. Bank of Canada has indicated that borrowers should expect to see rate increases this year … and notably, nearly half of Canadian mortgage holders are set to renew their mortgages in the next 12 months. Combined with the new, more stringent “stress test” requirements, a greater number of homeowners will be opting for five-year-fixed rate mortgages over the historically popular variable rate mortgages.6

According to LowerRates.ca, “Since January 2014, 56% of Canadian borrowers who applied for a mortgage through LowestRates.ca have gone variable, compared with 43% of those who got a five-year fixed. But this past August, there was a shift, where the five-year-fixed rate mortgage saw a sharp increase in applicants, with 59% of users on the LowestRates.ca site opting for this option versus only 39% opting for the variable mortgage.”7

What does it mean for you? If you’re in the market to buy, act now. Rising interest rates will decrease your purchasing power, so act quickly before interest rates go up. Give us a call today to get your home search started.

And if you’re a current homeowner who is set to renew your mortgage, you may want to consider locking in a five-year-fixed rate. Contact us if you would like assistance navigating your options.

 

 

2018 ACTION PLAN

If you plan to BUY this year:

 

1.    Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork and provide an advantage over other buyers in a competitive market. The added bonus: you will find out how much you can afford to borrow and budget accordingly.

2.    Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you.

3.    Come to our office. The buying process can be tricky. We’d love to guide you through it. We can help you find a home that fits your needs and budget, all at no cost to you. Give us a call to schedule an appointment today!

 

If you plan to SELL this year:

 

1.    Call us for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it’ll also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property … and it will help us price your home correctly once you’re ready to list.

2.    Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. We can help you determine which ones are worth the time and expense to deliver maximum results.

3.    Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage … and get you one step closer to moving when the time comes!

 

WE’RE HERE TO HELP

 

While national real estate numbers and predictions can provide a “big-picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market, and the local issues that are likely to drive home values in your particular neighbourhood. If you have specific questions, or would like more information about where we see real estate headed in our area, please give us a call! We’d love to discuss how issues here at home are likely to impact your desire to buy or a sell a home this year. Please visit our website SnapHomes.ca for latest MLS listing and pre-construction Homes & Condos.

Can’t find what you are looking for? Contact us for Exclusive list of Pre construction Homes and Condos and our pocket listings for Land!
Sources:

1.     Royal Bank of Canada’s Housing Trends and Affordability Report –
http://www.rbc.com/newsroom/_assets-custom/pdf/20170929-ha.pdf

2.     PricewaterhouseCoopers Emerging Trends in Real Estate 2018  –
https://www.pwc.com/ca/en/real-estate/assets/Real_Estate_ETRE_2018_PDF.pdf

3.     TD Economics Canadian Regional Housing Outlook –
https://economics.td.com/canadian-regional-housing-outlook-aug-2017

4.     Office of the Parliamentary Budget Officer –
http://www.pbo-dpb.gc.ca/en/blog/news/HH_Vulnerability

5.     Financial Post
http://business.financialpost.com/personal-finance/stricter-osfi-rules-on-mortgage-lending-will-do-more-harm-than-good-fraser-institute

6.     Bank of Canada Financial System Review November 2018  –
https://www.bankofcanada.ca/wp-content/uploads/2017/11/fsr-november2017.pdf

7.     Maclean’s  –
http://www.macleans.ca/economy/money-economy/canadians-rushing-to-lock-down-five-year-fixed-rate-mortgages/

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Harmony Village Condos

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An innovative and dynamic life-changing concept, Harmony Village Condominiums are designed to satisfy all of your day-to-day needs – from health and wellness to pleasure and leisure. A place where senses are luxuriously satisfied, lives enriched, pleasures fulfilled and cares tended. Where all the joys of every day come together in a place with a full lifestyle blend of facilities. Enjoy shops, restaurants, specialty boutiques, cafés and Harmony Village’s own on-site all-year round leisure and event programming.

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Harmony Village Condos at Sheppard and Warden Avenues, offering buyers the opportunity to become part of a lifestyle concept that will revolutionize the real estate sector. Every element of architecture and design is focused on delivering living spaces that exceed all expectations for people looking to simplify their real estate needs with no compromises. Downsizing never felt so good.

Harmony Village Condos will set new standard in amenities and services. All residents will be part of a robust community with all the comforts of home and much more. Residents of Harmony Village Condominiums will also be invited to join the various fitness and lifestyle activities offered through the on-site St. Paul’s L’Amoureux Centre. This award winning facility specializes in providing services to encourage active physical and social lives.

 

Important Message: In order for an investor to take advantage of Buying Pre-construction Condos is to buy before it is open to the public. Prior to opening day of a new condo sales office to the general public, prices may have gone up. This will be an opportunity for you to invest in a unit at the lowest price possible before its open to the public. You can be one of the first purchasers to be invited to Platinum VIP Preview Sales Event long before the presentation centre opens to the public. This gives you an opportunity to have the first access to inventory, best pick at unit levels, floor plans, lowest price not available to the public and the ability to take advantage of Platinum VIP Condo Incentives the builder may offer.  This is a perfect opportunity at the Platinum VIP Price.

 

For more information and to register now for the  VIP Preview Sales Event please Register, we can only bring limited number of buyers into the Platinum VIP Sales Event, so pre-register now for priority access:

 

 

 

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365 Church Condos

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365 Church St Condos will be a 30-storey residential building comprised of a 3-storey podium and a 27-storey tower. The building would include 322 residential units consisting of 28 studio units (9%), 184 one-bedroom units (57%) and 107 two-bedroom units (33%). The remaining 3 units (1%) are 2-storey, two-bedroom grade related townhouse units along McGill Street. 365 Church Condos also includes 218 square metres (2,346.5 square feet) of ground floor retail space.

365 Church will include 161 car parking spacing in five levels of underground parking, and 225 bicycle parking spaces with 180 for residents and 45 for visitors.

365 Church Condos includes 601 square metres (6,469 square feet) of indoor amenity space on the third floor of the building, with an adjoining 122.6 square metres (1,313 square feet) of outdoor amenity space on the roof of the west side of the podium along Church Street.

Register for Floor Plans and Price List. It will be Available Soon!

 
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Posted by on June 10, 2013 in 1 Bloor, 3018 Yonge Condominiums, 3018 Yonge Condos, 32 Camden, 32 Camden Condos, 365 Church Condos, 707 Lofts, Allure Condos, Argento, Argento Condos, B.Street Condo, B.Street Condominiums, Beverly Hills Condos, Beverly Hills Condos & Resorts, Blythwood at Huntington, Bond, Bridlewood Mall, Cinema, Cloud, Cloud 9 Condos, Commercial, Commercial Real Estate, Condominiums, Diamond @ Don Mills, DNA3, DNA3 Penthouse, Don Mills, Dovercourt, Dream Tower, Dream Tower Condominiums, Dream Tower Condos, Eau Du Soleil, Eau Du Soleil Waterfront, Eau Du Soleil Waterfront Condominiums, Essential Condominiums, Essential Condos, Expo City, Expo City Condos, Flaire Condo, Flaire Condominiums, Food Court, Four Season Hotel, Grand Genesis condominiums, Grand Genesis Condos, Jade, Jade Waterfront, Jade Waterfront Condos, Karma Condos, L Tower, L Tower Condos, Lawrence Park, Leslie, Leslie Boutique, Leslie Boutique Condos, Lofts, Love Condo, Love Condominiums, Low Rise Homes, Luxury Homes, Luxury Townhomes, Madison Condominiums, Madison Condos, Monde Condos, Mount Joy, New Condominiums, New Condos, Nexus South, Nexus South Condo, No.210 Simcoe Condos, No.210 Simcoe Street, NXT Condos, NY Condominiums, NY Condos, O2 Condos, Oakville OpArt Lofts, office, One Bloor, One Bloor condominiums, One Bloor condos, OpArt Lofts, Oxygen Condos, paintbox, paintbox condo, Paintedbox, Paintedbox Candos, Perspective, Perspective Condos, Picasso Condo, Plaza, Pre Construction, Q Loft, Q Loft Condos, Rain, Rain Condos, Residential, Restuarant, Retail, Richmond Crossing, Richmond Hill, River City, River City2 Condos, Shopping Mall and Plazas, Shopping Plazas, Spectra Condo, Spectra Condominiums, Strip Plazas, The Beverly Hills Condos, The Bond, The Bond Condominiums, The Bond Condos, The Carlaw Condominiums, The Carlaw Condos, The L Tower Condos, The Madison Condominiums, The Merton, The Merton Townhome, The Station Condos, The Station Condos on the subway, Toronto New Condos, Tower, Town Homes, Townhome, Treviso Condominiums, Treviso Condos, Tridel Blythwood at Huntington, Tridel's Argento, Tridel's Argento condominiums, Tridel's Argento condos, Uncategorized, Vaughan, vaughan condos, Vero Boutique Condo, Vero Boutique Condominiums, Vintage Garden, Water Garden by Minto, Water Garden condos, Watermark Condos, Westwood Condominiums, Woodbridge, woodbridge condos, wycliffe, Yorkville Plaza, Yorkville Plaza condo

 

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Karma Condominiums

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At Yonge & College

Karma Condos is a 52 storey building located at the prime Yonge & College intersection. CentreCourt Developments has partnered with Lifetime Developments to co-develop a multi-use high-rise residential condominium at 21 Grenville Street.

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The Karma Condos is centrally located in downtown Toronto and is within walking distance of Toronto’s major employment districts, Ryerson University, Yonge Street shopping and numerous restaurants. The city’s major hospitals and University of Toronto are also within close proximity. Public transportation is in immediate proximity with the Yonge subway within one block of the site.

FEATURES & FINISHES

It’s all good. Living at the center of the city, happens to come with style. This statement if perfect urban living is designed by the vulnerable architectural firm aA. The lobby, amenities and modern interior designers at Cecconi Simone. Enter KARMA Condos.

KARMA AMENITIES

  • Fitness Centre/Steam Rooms: weight rooms, cardio equipment, yoga area and a spa-inspired change room facility with his and hers steam rooms
  • The Social: A Party room with a bar, projection screen, modern fireplace, and private dining room with a servery
  • Players Club: a pub-like bar with felted poker table, billiards and table-tennis
  • Rest Rooftop Terrace: an open-air outdoor terrace with lounge, canopy seating and BBQ facilities
  • Additional Amenities: Screening Room, Sound Room, Station K – Gaming Room

KARMA THE BUILDING

  • 24 hour, 7 day a week concierge
  • Security coded access fob for all residents
  • Concierge monitored underground parking
  • Two guest suites provided for residents’ use
  • Individual suite hydro metering
  • Environmentally controlled rainwater harvested for irrigation
  • Underground parking with security monitoring from concierge station
  • 4 custom-designed high-speed elevators serving all amenity and residential floors
  • Mailroom conveniently located beside front lobby

KARMA SUITES

  • A wide variety of unit types and sizes with ceiling heights of 9’ (excluding areas with dropped bulkheads)
  • Floor-to-ceiling glazing/window systems
  • Choice of designer selected engineered wood flooring in entry, corridor, kitchen, living/dining areas and bedrooms, from builder’s standard samples
  • Custom designed solid core entry door with security view-hole
  • Smooth finished ceilings throughout.
  • Contemporary sliding doors and/or swing doors to balcony, as per plan
  • TV/Telephone outlets in principal rooms
  • Thermostat controlled heating and cooling
  • Built-in smoke/heat detectors and in-suite water sprinkler system
  • In-suite controlled energy efficient air-conditioning   and energy recovery ventilation system
  • All suites protected under the TARION Warranty Coporation
  • Front loading stacked washer and dryer

KARMA KITCHENS 

  • Contemporary kitchen cabinetry custom designed by Cecconi Simone in a variety of materials and colours, from builder’s standard sample
  • Choice of natural or composite stone countertops from builder’s standard samples
  • Choice of glass backsplash from builder’s standard samples
  • One capped ceiling outlet, as per plans
  • Stainless steel under-mount sinks with integrated pull-out faucet head
  • Energy Star hidden cabinet covered refrigerator
  • Energy Star 24″ smooth top drop-in electric cook top
  • Energy Star 24″ stainless steel oven
  • Stainless steel microwave oven
  • Hidden cabinet covered dishwasher
  • Stainless steel hood fan with integrated halogen lights

KARMA BATHROOMS

  • Contemporary bathroom cabinetry, custom designed by Cecconi Simone, in a variety of colours and materials, from builder’s standard samples
  • Choice of natural or composite stone countertops, from builder’s standard sample
  • Choice of porcelain flooring, from builder’s samples
  • Designer top-mounted sink
  • White soaker tub with chrome faucets, as per plan
  • Glass shower stall with chrome fixtures, as per plan
  • Chrome accessory package including towel bar and toilet paper holder, where applicable.

Karma Condos Price List

*As per plan from Vendor’s Samples. Please see a Sales Representative for details.
*Prices and promotions are subject to change without notice.
 
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Posted by on June 10, 2013 in 1 Bloor, 3018 Yonge Condominiums, 3018 Yonge Condos, 32 Camden, 32 Camden Condos, 707 Lofts, Allure Condos, Argento, Argento Condos, B.Street Condo, B.Street Condominiums, Beverly Hills Condos, Beverly Hills Condos & Resorts, Blythwood at Huntington, Bond, Bridlewood Mall, Cinema, Cloud, Cloud 9 Condos, Commercial, Commercial Real Estate, Condominiums, Diamond @ Don Mills, DNA3, DNA3 Penthouse, Don Mills, Dovercourt, Dream Tower, Dream Tower Condominiums, Dream Tower Condos, Eau Du Soleil, Eau Du Soleil Waterfront, Eau Du Soleil Waterfront Condominiums, Essential Condominiums, Essential Condos, Expo City, Expo City Condos, Flaire Condo, Flaire Condominiums, Food Court, Four Season Hotel, Grand Genesis condominiums, Grand Genesis Condos, Jade, Jade Waterfront, Jade Waterfront Condos, Karma Condos, L Tower, L Tower Condos, Lawrence Park, Leslie, Leslie Boutique, Leslie Boutique Condos, Lofts, Love Condo, Love Condominiums, Low Rise Homes, Luxury Homes, Luxury Townhomes, Madison Condominiums, Madison Condos, Monde Condos, Mount Joy, New Condominiums, New Condos, Nexus South, Nexus South Condo, No.210 Simcoe Condos, No.210 Simcoe Street, NXT Condos, NY Condominiums, NY Condos, O2 Condos, Oakville OpArt Lofts, office, One Bloor, One Bloor condominiums, One Bloor condos, OpArt Lofts, Oxygen Condos, paintbox, paintbox condo, Paintedbox, Paintedbox Candos, Perspective, Perspective Condos, Plaza, Pre Construction, Q Loft, Q Loft Condos, Rain, Rain Condos, Residential, Restuarant, Retail, Richmond Crossing, Richmond Hill, River City, River City2 Condos, Shopping Mall and Plazas, Shopping Plazas, Spectra Condo, Spectra Condominiums, Strip Plazas, The Beverly Hills Condos, The Bond, The Bond Condominiums, The Bond Condos, The Carlaw Condominiums, The Carlaw Condos, The L Tower Condos, The Madison Condominiums, The Merton, The Merton Townhome, The Station Condos, The Station Condos on the subway, Toronto New Condos, Tower, Town Homes, Townhome, Treviso Condominiums, Treviso Condos, Tridel Blythwood at Huntington, Tridel's Argento, Tridel's Argento condominiums, Tridel's Argento condos, Uncategorized, Vaughan, vaughan condos, Vero Boutique Condo, Vero Boutique Condominiums, Vintage Garden, Water Garden by Minto, Water Garden condos, Westwood Condominiums, Woodbridge, woodbridge condos, wycliffe, Yorkville Plaza, Yorkville Plaza condo

 

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The Hub Condos

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Live Life on Tomorrow’s Fast Lane. Make the Switch. With its uptown edge, this new residential development by award-winning Empire Communities will play a key role in this Eg-West area’s entire renewal. With condo suites, new neighbourhood-friendly shops, services, and the Eglinton Crosstown LRT right at your front door, where else would you rather be? First in can take advantage of the good-value combination of a yet-to-be-discovered neighbourhood. Get connected to The Hub.

Price list and Floor Plans Available Upon Request!

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The Hub Condos located at the corner of Eglinton and Oakwood, 1603 Eglinton is currently the site of a single-storey commercial building. Empire Communities is planning build a 16-storey condominium with some retail space integrated into the ground floor.

Starting from the low $200’s

Important Message: In order for an investor to take the most advantage of Buying Pre-construction Condos is to buy before its open to the public. Prior to opening day of a new condo sales office to the general public, prices may have gone up. This will be an opportunity for you to invest in a unit at the lowest price possible before its open to the public. You can be one of the first purchasers to be invited to Platinum VIP Preview Sales Event long before the presentation centre opens to the public. This gives you an opportunity to have the first access to inventory, best pick at unit levels, floor plans, lowest price not available to the public and the ability to take advantage of Platinum VIP Condo Incentives the builder may offer.  This is a perfect opportunity at the Platinum VIP Price.

For more information and to register now for The Hub Condos Platinum VIP Preview Sales Event please fill out the form below, we can only bring limited customers into the Platinum VIP Sales Event, so pre-register now for priority access:

 

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Centro Square Condos

Centro Square Condos, Liberty Development’s newest condominium development. Centro Square Condos Ideally situated in the heart of Vaughan, at the corner of Highway 7 and Weston Road. Centro Square will add a thriving residential community to one of the 905’s most dynamic commercial/retail corridors. Located at the former site of the iconic Al Palladini car dealership, Centro Square Condos will give purchasers unequalled access to the hundreds of stores, restaurants, cafes and offices that sit adjacent to the site (along both Highway 7 and Weston Road).

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Well served by public transit (with a planned subway extension coming soon), the location is centrally located between Highways 407,401 and 400, which, makes getting anywhere in the GTA by car, VIVA or TTC a dream.

Set on a prime site, the mixed-use Centro Square development will consist of two residential towers joined by a podium, over 100,000 sq. ft. of office space, and approximately 162,000 Sq.Ft. of retail.

Designed by the award-winning teams at Kirkor Architects, and Hefele Makowka Design Associates, Centro Square Condos will, in itself, become of one of Vaughan’s newest destination developments.

Priced from the mid-$200’s, the first residential tower will stand 33 storeys and have 445 suites. Each unit will boast a range of contemporary features and finishes, including nine-foot ceiling heights, balconies and walk out patios (on “garden level” suites).

Featuring modern, functional kitchens, each offers granite countertops, European-style cabinetry, ceramic tile backsplashes and a stainless steel appliance package. Bathrooms will boast marble countertops, ceramic tile floors and tub surrounds, recessed cabinetry in the master bath, and a white acrylic soaker tub.

Rich with amenities, Centro Square Condos will offer residents access to a media room, yoga studio, party room, swimming pool with whirlpool, exercise room, golf simulator and multi-purpose room.

Centro Square Condos Tower A VIP Price List & Floor Plan Available Upon Request

Deposit Structure:

  • $5,000 with Offer
  • 5% less $5,000 in 30 Days
  • 5% in 90 Days
  • 2.5% in 270 Days
  • 2.5% in 360 Days
  • 2.5% in 600 Days
  • 2.5% in 720 Days
  • 5% Due on Occupancy

Parking:

$28,000 per spot (HST inclusive)

Monthly Maintenance Fees2:

$0.49/Sq. Ft., plus Hydro (metered separately) for each individual unit consumption)

Estimated Taxes4:

1% of purchase price per year

Tentative Occupancy4:

September 30, 2015

Floor Premiums: Floor Price Increments vary. Please consult the sales consultants for details.

Suite Features3:

  • Granite kitchen countertops
  • Marble or granite bathroom countertops
  • European-style kitchen cabinets with 36″ uppers
  • Ceramic tile backsplash
  • 4 stainless steel appliances plus washer and dryer (white)
  • Laminate flooring in foyer, kitchen, living/dining room, den & bedrooms (if applicable)
  • 9′ Ceilings

Building Amenities3:

Party Room and private membership in Club Liberty, which includes, exercise room, Multi-Purpose Room, Media Room, Yoga Room, indoor pool, whirlpool, sauna and change rooms, card room, golf simulator, and outdoor green rooftop terrace

Number of Suites: 652

Number of Levels: 33

1Prices and availability subject to change without notice. All areas and stated dimensions are approximate. Actual living area, usable floor space and square footage may vary from stated floor plans. All prices, figures, sizes, specifications, information and choices of vendor’s samples are subject to change without notice.
2Maintenance fees and taxes are approximations/estimations only and are finalized on condominium registration.
3Per Condominium Disclosure and subject to feature and finishes sheet Notes, vendor’s plans and vendor’s samples.
4As per respective Agreement of Purchase and Sale.
©Liberty Development Corporation, 2012. All rights reserved. Brokers Protected. E. & O. E. August 02, 2012.
 

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TD matches RBC’s five-year fixed

It’s a rate war in reverse, with TD following RBC’s decision to set a five-year fixed well above the broker’s best.

Earlier this week, TD brought the rates on both its three- and five-year fixed mortgages in line with RBC, introducing a special on its own five-year equal to RBC’s 3.69 per cent.

The country’s biggest bank made its move on Tuesday, announcing that it has bumped up its five-year-fixed by 20 bps. The decision has been viewed by some industry players as a win for brokers and mono-lines.

“Brokers could use these rate hikes to their advantage for the next two weeks or at least until other lenders decide to raise their rates also,” said Kunal Bhalia, broker with Dominion Lending Centres – Mortgage Village.

Still, none of the other Big Six members appear to have followed suit.

A quick check of the bank’s websites today indicates that CIBC, BMO and National Bank are offering their three-year-fixed at 3.95 per cent and five-year-fixed is 5.24 per cent. However, BMO also offers five-year fixed at a low rate of 3.29 per cent.

Scotia’s three-year-fixed mortgage is 3.99 per cent and its five-year-fixed is 4.99 per cent. The bank has a special offer of 3.99 per cent on its five-year closed-term fixed mortgage.

There are a number of mortgage rates lower than what banks have posted, suggesting brokers increasingly face a hidden rate war – one without the kind of bank advertised rates that encourage fence-sitters into the market. Source: Brokernews

 

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