Tax Deductible Mortgage Plan
Homeowners in Canada can create tax deductions from their mortgage by structuring debt differently. This plan not only creates tax deductions but helps you pay off your mortgage faster, save many thousands in interest payments and create a retirement nest egg. The attached article explains the process in a bit more detail. For more information visit www.tdmp.com.
Low Interest Rates
The biggest news this month has been how low interest rates have moved. With the Bank of Canada overnight lending rate at 0.5%, we have officially hit a historical low. Many economists are predicting that the overnight lending rates will not move much lower. Instead the Bank of Canada is looking at different means of stimulating the economy.
February 2009 MLS Statistics
Improved February Sales
If you have been sitting and waiting since last year for a buyer’s market then now is the time to recognize you have the situation you were waiting for! As the numbers show for February, there are more people buying up investment and primary residence properties, but less listings are available.
January 2009 MLS Statistics
January saw an increase of listings over December 2008 but listings in comparison to last January are still down. Sales of total units were the lowest we've seen since the market turn in the second quarter of 2008.
January 20, 2009
More good news for people holding a variable mortgage and those individuals currently looking to buy property - the Bank of Canada announced another reduction to their overnight lending rate from 1.5% to 1%. Most of the banks are following suit with a half a percent reduction to their prime rates from 3.5% to 3.0%.
