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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com





News
25 May 2018

Ottawa faces a strong activity rise because of expensive real estate in GTA

Ottawa’s real estate market is facing a strong activity increase and the main reason is the wave of buyers from other regions.

“Partially, it’s the result of extremely high home prices in Toronto or B.C.,” - noted Dorothy Smith, a broker from Ottawa. “More people working remotely are buying properties here. They can work in Ottawa and still keep their job in Toronto or other cities. Some of them are moving from expensive areas to Ottawa in order to save at lower prices which are already growing”.

Indeed, Canada’s capital is full of multiple offer cases, which according to Smith have become almost a usual situation during the previous 2-3 months.

“In 2017, we had several situations with higher prices in certain areas, but now we can see multiple offers all over Ottawa, and the prices are showing quite a fast growth,” - said Smith.

 
24 May 2018

New home sales reached a record low level in GTA

According to the Building and Land Development Association (BILD), new home sales reached the lowest level for April in more than 20 years.

Recently built single-family home prices were down by 5% annually to $1.15 million, while in March it was $1.2 million. Meanwhile, the average cost of condos kept growing with an annual increase by 29.8% to $739,965 – although still down from the previous month’s $742,801.

New houses and condos sales were down by 65% from April 2017. As a result, detached, semi-detached and townhouses were 70% below the 10-year average. In case of condominiums, it was 38% below that level, BILD says.

 
23 May 2018

CIBC shows high profits despite stricter mortgage rules

Canadian Imperial Bank of Commerce (CIBC) started this earnings season with a high profit, pushed up by double-digit growth in its main Canadian division.

During the second fiscal quarter, CIBC earned $1.32 billion. On an adjusted basis, profit went up by 26% annually reaching $1.35 billion.

In addition to it, on a per share basis, CIBC's adjusted profit was $2.95, while specialists predicted $2.81.

Earlier, the bank was considered to be the most vulnerable to the OSFI’s stricter mortgage rules.

 
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News

25 May 2018

Ottawa faces a strong activity rise because of expensive real estate in GTA Ottawa’s real estate market is facing a strong activity increase and the ...Read more >>

24 May 2018

New home sales reached a record low level in GTA According to the Building and Land Development Association (BILD), new home sales reached the lowes...Read more >>

23 May 2018

CIBC shows high profits despite stricter mortgage rules Canadian Imperial Bank of Commerce (CIBC) started this earnings season with a high profit, pu...Read more >>
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