Our Canadian economy is set to shine in 2011 according to Wall Street mega giant Goldman Sachs. As they see our jobless rate declining and our loonie hitting a high of $1.05 (U.S.)
Goldman Sachs also upgraded the U.S. economy forecast as it took into effect the latest tax and fiscal stimulus package that was signed by President Obama. As the U.S. is Canada's biggest market this will support our economy as we ship 2/3 of our exports to them.
Interest rate will remain relatively low, rates are not expected to rise until the end of the 4th quarter in 2011.
Today a 5 year fixed could be had for 4.19% or a variable rate of 2.85%.These are posted rates from TD Canada Trust. You could probably negotiate a better rate.
If you are looking to purchase a home that is priced at $430,000.00 with a 10% down payment ($43,000.00)
Your monthly payment will be $1801.80, using 2.85% variable rate on a 5 year term.
Are you planning on purchasing a home in 2011? The best time to buy in Toronto is now.
Call me when you are ready the spring marketing is right around the corner.
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