Just announced, 1st time Buyers in Ontario will be eligable for Land Transfer Tax Refund!

Just in time for the holidays - First time homebuyers, in Ontario, will be eligible for a land transfer tax refund (up to $2000).

This was announced in yesterday's mini budget. Unfortunately, full details are not yet available on the government's website but I'm sure they will be soon: browse here.

Despite the drop in Bank Prime lending rates, fixed rate mortgages have remained unchanged.

The rate on variable rate mortgages fluctuates with prime, best I have seen is 5.40%.

I hope you find time to enjoy the lead up to the holidays,

Mark

Current mortage interest rates with some mortgage brokers I know

December 14, 2007

Prime Rate 6.00%
Variable Rate Prime less .60%
1 year closed 5.55%
3 year closed 5.70%
5 year closed 5.85%*
7 year closed 5.88%*
10 year closed 5.95%*
25 year closed 6.90%

* for mortgage of $500,000 or greater; slightly higher rates for lower mortgage amounts
Information subject to change without prior notice. APR.E.&O.E.

Read more about Land Transfer Tax in Ontario

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

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