Tomasz Witek's blog
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Low Inventory Of Homes For Sale Continues - Ottawa Real Estate Market Update For February 2018
Real Estate Statistics Are In For Ottawa Real Estate Market Residential Homes and Condominium Homes
Condos For Sale-For Rent-Rental Agreement-Eviction Notice-Tenancy Agreement-Rental Lease Agreement-Lease Contract
Hi This Is Tom Witek With Your Choice Realty Corp. Brokerage Bringing You Market Updates That Affect Our Ottawa Community And Our Ottawa Neighbourhoods.
Recently, The Provincial Government Has Released A New Standardized Lease Agreement For Private Residential Leases.
Most Surprising Ottawa Real Estate Market 2017 News. How many Ottawa Homes Sold Over $1,000,000 in 2017?
Bad News For Homeowners Again!
At the latest meeting on January 17, 2018, Bank of Canada increased its trend-setting overnight lending rate by a quarter point (increase of 0.25%) to 1.25%.
The 0.25% increase, in simple terms means that for every $100,000 of your mortgage, if you have a variable mortgage, you will pay $250 per year in additional interest.
This is of course bad news for fixed mortgages as well, since the 5 year-fixed mortgages (all terms really) tend to increase in line with the Bank of Canada overnight lending rate increases.