A Shoppers Drug Store downtown advertized an opening for a volunteer position. Needless to say they received some flak.
Inflation
- Thread starter nobbie48
- Start date
2.68% for 6 more years thankfully.
Wow where did you get that rate for that term?
Cibc. The 5 year rate was ~2.45 at the time. The 10 year was a bit higher rate, but we figured it would still be lower than the rate 5 years later. I figured 2025 the rates would be ~3.5%, not the 6+ that it would actually be.
I didn’t even know 10 years was an option. I would’ve signed up for that with no issue.
*crying in the corner with my variable 5.9%*
Variable 5.4 3y is what we’re looking at currently I think. 4.x for fixed. Difference between the two for us is a few hundred bucks if nothing much changes. If it drops ~ 2% variable starts to win.
I would love a 2% drop. Sadly I don’t think it’ll happen before my renewal in 2027.
Unless the economy REALLY
s the bed.We are at 2.84% and renewed early in 2022 to get that rate....but that is moot as we are paying it off on Friday 
We are 2.6 renewal next spring unless rates are under 3 will do the same.We are at 2.84% and renewed early in 2022 to get that rate....but that is moot as we are paying it off on Friday
Sent from the future
I'm jealous. 18 more years for us (barring an unexpected cash infusion).
I have around the same officially but 4 percent after tax is 8 percent pre
Sent from the future
We will be 15.5 years start to finish. Maxed out payments to what I could stand, differed many cosmetic renos, no big money vacations, would have been paid off in '27 but we are moving that up now with a lump sum.
The plan is or maybe was to kick some more renos into high gear over the next two years but at the same time developers are now banging at the door and want to buy ours and the three houses next to us to build a high rise...
Great job. I wouldnt reno as unless you are happy to pay the full amount for the enjoyment, it's expensive as in that situation, you don't get anymore when you sell for redevelopment. If the current developer doesn't work put, talk to your neighbours about a package sale and start calling others. Expect about 10% over fair market value for your efforts.
We paid off our first house in ten years. After the cost and hassle of selling took a bigger jump than I originally planned for second house. Bigger loan, bigger expenses and kids costing more and second house will be close to 25 years (barring cash infusion).
10% over market value is a very hard no. Not worth the effort of moving and no way we want to get a new mortgage etc.
I agree but sadly if your area is picked as a good spot to redevelop, you have no good options. If you hold out, they throw up a tower next door and the house/yard you loved is drastically changed and worth less than before the tower went up as it's an orphan parcel (unless you can aggregate with lots in the other direction). I think redevelopment in general is good but for homeowners directly affected by it, it is rarely their choice nor a great situation.
EDIT:
On a related note, here is a good timelapse of farmland/rural residential to subdivision with a holdout. In this case they structured the development to allow the holdout to be incorporated later. In many cases, they will structure so the holdout cannot easily access utilities or roads so it becomes a perpetual orphan.
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I would hope 30-50% depending on how good of a spot your land is.
For you, that is prime real estate beside a TTC station…I’d def try and squeeze the max out of it.
Funny story, buddy bought a farm on Oro many years ago. He lived there for a few years, started a business, etc etc.
Bought for ~600k. Developer shows up and their junior stated ‘we need your property as it’s the only one with good access to the highway’…OOPS
Asking price went from 1M to 2.5M.
They settled at approx 1.6M after 3 years of living there.
It’s the current site (or one of them
) of the Boots and Hearts Festival.All prices approx as I can’t remember the details.
News is hot today...some predicting a drop, some predicting a stay, and some predicting pandemonium...
www.bnnbloomberg.ca
I don't expect much movement in June 5.
www.bnnbloomberg.ca
Video - BNN Bloomberg
Most recent Video News business news stories and video from BNN Bloomberg
www.bnnbloomberg.ca
I don't expect much movement in June 5.
Video - BNN Bloomberg
Most recent Video News business news stories and video from BNN Bloomberg
www.bnnbloomberg.ca
I expect the first move (whenever it happens) will be 0.25. Saying the rate cuts are starting is a bigger factor than the actual size. As people get used to the news you need bigger cuts to create demand.News is hot today...some predicting a drop, some predicting a stay, and some predicting pandemonium...
Video - BNN Bloomberg
Most recent Video News business news stories and video from BNN Bloomberg
I don't expect much movement in June 5.
Video - BNN Bloomberg
Most recent Video News business news stories and video from BNN Bloomberg
When it was the Beverly Hills Hotel on Wilson Ave there was a lone house in the parking lot. I assume they were holding out. Not a fun place to live with asphalt on all sides and no privacy. To sell after the fact the only serious buyer would be the hotel and the hotel would know it.
The economic side doesn't consider emotions. People leaving the home they raised their kids in and good neighbours. Sometimes life just sucks. The financial compensation may be good but not if it means moving from a walk friendly neighbourhood to suburbia. School changes transit options etc.
P.S. If you get an extra 10%, don't have to pay real estate fees and get a group rate on legal fees it's a lot better. Some side deals could be arranged awaiting demolition.
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3y fixed at 5.19% and 5y variable is at 6.1% for the latest figures for mortgages for us (from our current lender so no legal fees) Leaning towards 3y fixed as we only have 100k owing and the differences on that aren’t wild between the two. Can’t get a 3y variable it seems, not commonly offered the broker says.
