TORONTO NORTHWEST - CALEDON - PEEL - BRAMPTON - ORANGEVILLE - DUFFERIN - MONO - ERIN- WELLINGTON
Platinum Award 2012 & Top Sales Award 2012
Mary Awarded Overall Top Producer 2012 for Sutton Group, for the 11th Consecutive Year!
‘Focused intervention’ key to landing on Fraser Institute’s fastest-improving list…’
Caledon East is listed as one of the fastest improving schools over a five-year period, according to the 2013 Fraser Institute Report Card with a score of 7.3 out of 10. – Featured in the Toronto Sun -
BY JENNY YUEN ,TORONTO SUN
Mortgage Rule Changes
June 21, 2012 — The Honourable Jim Flaherty, Minister of Finance, announced four measures for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent:
- Reduce the maximum amortization period to 25 years from 30 years.
- Lower the maximum amount Canadians can borrow when refinancing to 80 per cent from 85 per cent of the value of their homes.
- Fix the maximum gross debt service ratio at 39 per cent and the maximum total debt service ratio at 44 per cent.
- Limit the availability of government-backed insured mortgages to homes with a purchase price of less than $1 million.
The new rules will take effect on July 9, 2012.
For more detailed information, please visit www.fin.gc.ca
- Information provided by The Toronto Real Estate Board
“Best of the Best!”
Mary Klein – Caledon Realtor Recognized for Outstanding Service!
Awarded Sutton’s Top Producer & Presidents Award for the 10th Consecutive Year!
- For the Caledon, Brampton, Orangeville, Mono Areas �
Peel & Dufferin Region Market Update February 2012
February 3, 2012 — Greater Toronto REALTORS® reported 4,567 sales through the TorontoMLS® system in January 2012. This number was 8.8 per cent higher than the 4,199 sales reported in January 2011. Sales growth was strongest for low-rise home types in the regions surrounding the City of Toronto.
“Low inventory levels have kept competition between buyers strong, resulting in robust annual rates of price growth over the last year. Strong price growth is expected to attract more listings. A better supplied market should result in a slower rate of price growth, especially in the second half of 2012,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.
– Information Courtesy of the Toronto Real Estate Board
January 17, 2011 — The federal government has announced changes to mortgage financing rules for government-backed (insured) mortgages (less than 20 per cent down payment), which will affect maximum amortization periods, mortgage refinancing, and home equity lines of credit. These rules will be effective March 2011.
The changes announced by the federal government include:
- Reducing maximum amortization period to 30 years, from 35 years.
- Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 percent, from 90 percent, of the value of their homes.
- Withdraw government insurance backing on lines of credit secured by homes, such as home equity lines of credit. This change would apply to Home Equity Lines of Credit that do not amortize over time (i.e. borrowers are not required to make regular payments on the principal amount of the loan). However, with established scheduled principal and interest payments, a loan will continue to be eligible for government-backed insurance, provided it meets the underwriting standards set by the mortgage insurer.
The changes to amortization periods and refinancing rules will come into force on March 18, 2011. The withdrawal of government insurance backing on home equity lines of credit will come into force on April 18, 2011. Exceptions would be allowed after the new measures come into force where they are needed to satisfy a binding purchase and sale, financing or refinancing agreement entered into before the corresponding coming into force dates.
For More Information, visit http://www.fin.gc.ca/n11/11-003-eng.asp
Source: Toronto Real Estate Board
Kaitlan wishes to congratulate all of the hard working athletes on all of their achievements in Vancouver 2010!