Reasons To Lock In A Mortgage RIGHT NOW In Canada

Rates in the mortgage market have fallen to the lowest level since September 2017, meaning now may be a good time to think about a 5-year fixed rate. Typically during the busy spring homebuying season, lenders will offer their most competitive rates, and the timing is spot on with the surging of sales in Toronto.

With a 5-year fixed rate by 0.6% in four months shows why buyers should continue to shop around to make sure they are getting the best rate before they lock in a mortgage. With purchases closing in June, the timing is excellent for consumers to take advantage of these new rates!

The best rates can be found (currently) at the following:

Equitable (Fixed: 2.89%, Variable: 2.90%), MCAP (Fixed: 3.09%, Variable: 3.10%), DUCA (Fixed: 2.89%, Variable: 2.95%) and Scotiabank (Fixed: 3.24%, Variable: 3.35%). Also worth noting that fixed rates are the cheaper option above all.

Unless the Bank of Canada cuts it’s benchmark rate, don’t expect variable mortgage rates to go down. However, fixed rates may fall even further – so keep yourself updated!

Do you need the help of an experienced realtor to help you through the homebuying process?

Call Sutton today – we have agents standing by waiting to hear from you!

Sutton Group Realty Systems Inc., Brokerage

416-896-3333 / 905-896-3333



Power of Sale Listing in Toronto and GTA

Power of Sale Listing in Toronto and GTA
Distress sales resulting from bank foreclosure or power of sale provisions, often represent a great way to get a fantastic deal on a home. It’s not easy for the average home buyer to find these deals, because you have to keep scouring the papers and they are not identifiable on the online listing services.
If you’re the type of person who recognizes what a great potential some of these properties could represent, you will be interested to know about our free Power of Sale members monthly Newsletter.
Call your Sutton Realty Systems agent at 416-762-4200 or 905-896-3333 today and let us know your price range and area.
You can also visit us on-line:

Dreaming of an Affordable Condo? Starting at $249,900

Condos Under $250,000 !   Yes, Dreams can come true!   New Condos coming 5 minutes from the Burlington GO!
Buying your first time or investment can be exciting but daunting too.   Keeping on the lower price ranges of condos can sometimes lead to immediate repairs or cosmetic improvements.
Purchasing a Brand New Condo means just pick your colours and wait for the closing date.   Fresh paint, new floors, new appliances.
If you are in a Lower starter price range, Toronto condo prices can’t match these!   If you don’t mind a longer closing, as these are new development condos, call for more information.
This is a great start in building your future real estate portfolio or simply an avenue to Stop Renting and Start Building your own Equity.
Find out how today.
Sutton Group Realty Systems Inc. Brokerage – Just ask for our Agent on Duty – 905-896-3333 / 416-896-3333

Ottawa Being Pressured To Revise Mortgage Rules

Ottawa is currently being called upon to revise the B-20 mortgage stress test, as per TREB. Combined with rising interest rates and the mandated stress test, TREB’s CEO John DiMichele says the B-20 is ruinous for the economy.


“One area that needs to be revisited is the imposition of the OSFI-mandated two percentage point mortgage stress test. While we saw buyers return to the market in the second half of 2018, we have to have an honest discussion on whether or not today’s homebuyers are being stress tested against rates that are realistic. Home sales in the GTA, and Canada more broadly, play a huge role in economic growth, job creation and government revenues each year. Looking through this lens, policymakers need to be aware of unintended consequences the stress test could have on the housing market and broader economy.” says DiMichele.

Mortgage stress tests will also be used for mortgage borrowers due for renewal if they shop around for better rates, but if they choose to remain with their current lender, they’ll be at the latter’s mercy.

“People will have to stay where they are from a banking standpoint and also from a housing standpoint because they can’t move up the housing ladder,” said Shawn Zigelstein, a real estate agent. “I’ve had clients who have had to qualify at $750 to $1,000 more a month than their actual payments. This reduces their affordability, which means that they can’t buy the property they want and have to stay put, which means the people who wanted to buy their house won’t be able to.

“Qualification and what you can afford are two very different things.”


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