Investors Group rolls out 1.99% variable rate mortgage | Financial Post

Oh dear.

What's middle price of property?

Very different across the country.




http://www.cbc.ca/news2/interactives/housing-canada/

http://www.crea.ca/content/national-average-price-map


The absolute average is $400,000


http://www.ctvnews.ca/business/average- ... -1.1732410

Very different across the country.




http://www.cbc.ca/news2/interactives/housing-canada/

http://www.crea.ca/content/national-average-price-map


The absolute average is $400,000


http://www.ctvnews.ca/business/average- ... -1.1732410
Middle prices of house in Kyiv are the same. Average apartment in my city 35 000$, house near 100 000$.

Might be good for depressed housing markets but bad news for places like Vancouver and the GTA, among others.

Bad news all around, as it lets people buy things they can't afford. And we aren't built for long term thinking, it's an acquired skill some just don't have.

Really depends where you live. If you live in a rural town you can get something for much less than in a city. In most cases the bigger the city the higher the price. You can see what the current market are on this Realtor site.

http://www.realtor.ca

Back in 07 I renewed my mortgage, a 5 year variable rate, for 1.75%. There posted rates were a little higher. Having an excellent credit rating along with a good relationship with your lender ensures you get a rate lower than what is posted.

I only had a mortgage for our first house but I remember having to kiss their ass and take what they gave, which was the same across the board for all banks. It was upper single digit financing (1987) and when it came time to re-new it was around 13% which was a big hit. Mortgage free in 9 years and paid cash for this house 4+ years ago.
Much different today with these mortgage brokers though. They do the shopping for you and get you the best rate depending on your financial situation and plans. The only time you speak to the bank is when you go in to sign on the dotted line. For first time home buyers, these guys can really help cut the bank BS and propaganda. Wish they were around back when I bought the first one.