Surprising results of a ten years condo market survey
There’s been a new study, conducted during the previous 10 years, and it’s going to help brokers give better advice for their clients who want to buy a condominium.
Due to this study, brokers now see the real picture of condo fees and myths about them. The report, showing real costs of maintaining Toronto condos, was published by condos.ca.
“The report confirmed some beliefs about condominium maintenance fees, e.g. if you want better conditions, you’ll pay more. However, it turned out the most expensive amenities are not those we’ve all expected – pool, for instance, increases your fees only by average $0.03 per square foot,” - the report says.
It’s been less than a month since the Bank of Canada surprised everyone by cutting its key lending rate, and the mortgage rate war is getting hotter. However, this time it’s mostly about smaller lenders.
Although Canadian big banks also reduced their rates to almost three years low level, mortgage brokers and small credit unions are ready to deprive themselves of higher profits in order to attract more clients.
A few weeks after large banks started offering their special 2.84% five-year fixed mortgages, the average discounted five-year rate among them reached 2.79%.
Today many Canadians celebrate a Family Day. However, Family Day isn’t considered to be a national holiday – it’s celebrated in Ontario, Alberta, Manitoba, Saskatchewan and British Columbia. Meanwhile, two other provinces have the following holidays instead: on the third Monday of February, Prince Edward Island has its Islander Day, and Manitoba celebrates Louis Riel Day.
Initially the Family Day was created for Canadians to spend more time with their relatives.