Condos Hotspot

11/12/2023

to all!

01/25/2023

With current uncertainity in consistent 8 interest rates hikes effecting mortgage rates and monthly mortgage cost, the questions the home owners are wondering is that if the Bank of Canada continues hiking rates then what should I do now as a home owner?

The Bank of Canada has announced a 25-basis-point hike to its benchmark rate today to bring it to 4.5%, and this will likey bring the Prime rate to 6.7%, which effects variable rates mortgage only and not fixed rates mortgages, as fixed rate mortgages increase and decrease are dependendent on Bonds growth or declining.

This BOC rates also means, a further increase that would see mortgage costs spike once again for some or many borrowers.

Very likely this BOC rate hike is final, which are expected and may go down significantly sometime later this year.

Nobody has a magic wand to see the future to have a perfect answer, but the best course of action for mortgage holders with that anticipated hike in mind depends on their individual situation, and their ability and tolerance for further possible hikes down the line.

If you have fixed rate mortgage then nothing to worry about , unless and if your mortgage is coming up for renewal within this year.

The first question borrowers on a variable rate should be asking themselves is whether they can absorb the impact of past and today rate hikes, and a potential further increase by the Bank of Canada in its March 8, 2023 meeting.

If you have variable rate mortgage then question to ask yourself is, “Can you hold out and can you still afford those monthly mortgage payments based on current and next possible hike” . “If the answer is yes, and you’re in a position where you can do that for another 12 months after that, I would say hold out and then shortly after that, we’re going to expect to see rates starting to drop heavily.

“This being said, if you can’t hold out right now, if you feel the pressure, if it’s too expensive for you, or if you’re just sick of paying the rates that you’re paying right now, the bond yield has been incredibly volatile over the last three, four weeks, and there have certainly been some opportunities to lock in Very low fix rates on short 2 year and 3 year terms.”

Best of luck!

08/05/2022

How to buy my own vacation property with 5% down only & make money on side:

More info:👉 https://www.condohotspot.com/

01/01/2022

12/03/2021

The 2022 RE/MAX Canadian Housing Market Outlook...

Confidence continues in Canadian real estate market, with the inter-provincial relocation trend likely to remain strong in 2022 Migration between provinces expected to continue in 2022, potentially impacting local Canadian real estate conditions, according to 53 per cent of RE/MAX brokers (20 out of...

09/22/2021

Booking Now, hurry limited time only: https://www.condohotspot.com/node/add/contactSite

02/24/2021

M3 in Mcity Condos, the 3rd & the tallest 81 storey.
Almost sold out, limited units left, act now,
1 Bedrooms only from low $400s.
Learn more
shorturl.at/ktDHN

02/16/2021

https://www.condohotspot.com/

10/23/2020

Launching, this Saturday, Oct 24, 2020
Butler Condominiums, uptown 's most distinguished address.
Register today to get pre-public access.

https://www.condohotspot.com

10/20/2020

NUVO CONDOS

An exciting brand new condominium coming soon to Bronte Rd & Dundas St W in Oakville!

Be the first!
Register to receive VIP ACCESS TO PRICING & FLOORPLANS

https://docs.google.com/forms/d/e/1FAIpQLSeb9MFJrcWe3i_BLLZvyXZX0xyHrd51Oxme7jJt6ZwmA_Ti_w/viewform

10/13/2020

Launching Phase 1 - Condominiums at Square One District is a new condo development by The Daniels Corporation and Oxford Properties currently in preconstruction at 4220 Living Arts Drive, Mississauga. The development is scheduled for completion in 2024. Units range in price from $410,900 to over $797,900, a total of 977 units. Sizes range from 425 to 872 square feet.

On sale now, accepting worksheets - Act now, learn more

https://docs.google.com/forms/d/e/1FAIpQLScksUQo-oaYTZXrusEHX-qLqDTvywSXCmqDpsLXX0LSqfBSWg/viewform

#

10/13/2020

Introducing, Daniels FirstHome™ Keelesdale – one of the most well-connected neighborhoods in Toronto, close to every urban amenity imaginable. This vibrant 12-acre master-planned community is nestled in a ravine setting featuring a new nature themed public park, walking trails and a playground that offers more than just your standard swings and slides. FirstHome Keelesdale offers modern condominium suites and townhomes with 1, 2 and 3-bedroom designs, and to top it all off – only a 5% deposit that is in everyone’s budget!

Sale starts Oct 14, 2020
Accpeting worksheets - Act now, learn more

https://docs.google.com/forms/d/e/1FAIpQLSeb9MFJrcWe3i_BLLZvyXZX0xyHrd51Oxme7jJt6ZwmA_Ti_w/viewform