Public Choice Mortgage Brokerage

07/31/2019

CANADIAN HOUSING HEALTH CHECK - Housing market risks ease in Canada
• Odds of a steep, nation-wide downturn are low
• Positive developments in many local markets
• Interest rates pose less of a risk
• Adjustment to housing policy actions is progressing
• Affordability remains a key issue in major markets

SOURCEhttp://www.rbc.com/economics/economic-reports/pdf/canadian-housing/healthcheck-jul19.pdf

12/08/2018

12/08/2018

10/25/2018

The Canadian banks each raised their prime lending rates to 3.95 per cent from 3.70 per cent, effective Thursday. October 25th 2018

The cost of loans linked to the big bank prime rates are headed higher in the wake of the Bank of Canada's decision to raise its key interest rate target by a quarter of a percentage point.

10/22/2018

Very interesting recent Real Estate Case:
Buyer buys property on a FIRM aps and alleges:
1) changing market "frustrates" the contract;
2) buyer was under duress when they crossed out the financing clause in the APS - "pressured by seller"
3) Buyer defaults on purchase and buyers another property instead of closing the original purchase
4) Seller sues

Key Points:
1) Deposits: to be awarded in ADDITION to damages or should deposits be credited to damages? Credited
2)Duress claim rejected – buyer stated that they crossed out financing clause and went firm because of pressure from the Seller to go firm
3)Frustration due to “changing market” – rejected
4)Duty to mitigate – re-affirmed
5)Interpretation of language – re-affirmed

https://www.canlii.org/en/on/onsc/doc/2018/2018onsc6226/2018onsc6226.html?searchUrlHash=AAAAAQALcmVhbCBlc3RhdGUAAAAAAQ

                                                                                                 COURT FILE NO.: CV-18-593451

12/16/2017

07/21/2017

Happy Birthday Nishanthi, Samantha & Ahad

04/29/2017

Have you done everything you can to prepare your home?

Prepping and staging a house. Every seller wants her home to sell fast and bring top dollar. Does that sound good to you? Well, it's not luck that makes that happen.

04/26/2017

First-time buyers should be aware of these missteps.

Knowing the right questions to ask and steps to take is a way to help keep emotions in check.