GREATER TORONTO AREA REAL ESTATE BLOG
There are Landlords who know what they are doing and then there are those who don’t. If you are a Landlord, then this piece is here to help you find a ‘good’ tenant for your property. Read On!
It’s now been 5 years since the U.S. Financial Markets bottomed out and began their upward trend which has generally been ongoing to this day. Housing Market in U.S. however did not begin its real recovery until 2012. While there have been numerous articles and arguments over the years on this subject, one thing is certain right now, our Housing Market held up exceptionally well.
Did you know that the average Canadian has approximately $27,000 in consumer debt, not including mortgages? Statistics Canada also reports that the total debt, including mortgages, has climbed to 165.75% of disposable income in the third quarter of 2013, meaning Canadians end up owing $1.66 for every $1 they earn in income.
Today, RE/MAX Ontario published its 2014 Market Outlook for Greater Toronto Area. After a strong 2013, 2014 is expected to be even stronger in most parts of GTA. Prices are expected to edge up by 6% to an average price of $550,000 by the end of next year.
Naturally, when shopping for a mortgage, one looks for the best interest rate possible. The amount of interest is the price you are paying for the mortgage, so the lower your interest payments, the better off you are. Is that always the case?