Mortgage Rate Update 2 - 05/30/07 11:37 PM
Wow! Further to yesterdays post about mortgage rates, today I see that rates at the big 5 banks have increased again:
Luckily Canada now has 35 and 40 year amortizations available! A 40 year amortization can reduce the principal and interest payment by over $200 on a $250,000.00 mortgage. Combined with the lower downpayment requirements available, including $0 down and free downpayment options, first time buyers or those on a budget can still realize their dream of home ownership!
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Mortgage Rate Up - 05/30/07 01:44 AM
Recently Mortgage rates at the Big 5 Canadian banks rose to 6.84% for s 5 year fixed term and 6.8% for a 1 year closed! Obviously discounts are available, but even those rates will now be higher. The variable rates have not moved but are expected to rise later this year.
What does this mean to potential buyers who are sitting on the fence? Perhaps locking in now would be wise or be forced to wait out the cycle.
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Halifax on sale! - 05/29/07 12:22 AM
What a beautiful weekend!
Recently I was discussing opportunities for real estate investment with a group from Alberta and it seems that while other major metro areas in Canada are selling at a premuim, there exists a lot of value in the Halifax area! There are many well maintained or newly renovated properties that can easily generate the required rental income to net positive cash flow while equity grows.
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Exciting News - 05/22/07 03:07 PM
The Summer is heating up and so are the investment opportunities! I have recently researched many new Real Estate investments that would be perfect for a new buyer or a seasoned investor. I'll be posting some of my tips and strategies shortly so be sure to check back regularly or simply visit www.reliablehomerentals.com! … (4 comments)

 

Annabel Purcell

Halifax, NS

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