Check out Toronto Realtor George O’Neill talk about using Bully Offers when purchasing your home.

A brief explanation of why the Bank of Canada is still sticking to their promise of leaving the prime lending rate where it is until June 2010. Even though we are starting to hear more good news about the economy there are still some fundamentals that need improving before we can say we are out of the woods.

The Bank of Canada announced today that it will leave its key interest rate unchanged and restated its commitment to holding this rate steady until mid-2010, conditional on the outlook for inflation.

One of the biggest roadblocks for first time homebuyers is saving the downpayment. With the burdens of paying rent, student loans and other expenses it is not realistic to expect you can save 20% of a home’s purchase price for your downpayment. CMHC Mortgage Insurance allows homebuyers with smaller downpayments to purchase their home.

According to research performed by professor Moshe Milevsky, choosing a variable rate over a fixed rate mortgage paid off approximately 96% of the time over the last 58 years. Is a variable rate right for you?