Real Estate Overview
The purchase and sale of real estate are the largest financial transactions many Canadians will ever undertake. In order to help keep you informed and make the right decisions regarding the purchase and/or sale of any real estate we have developed some tools and checklists.
The MortgagePlanner helps you calculate all of the costs including down payments, fees and monthly payments that are associated with your mortgage when buying a home.
The Property Sale Calculator calculates the fees and other expenses that you may be required to pay on the sale of your property. It also estimates taxes you may required to pay if your property in question is not your principal residence.
The Mortgage Calculator is a simple calcualtor that calculates your principal and interest payments on a mortgage you may be considering.
The Real Estate Information Center provides a checklist of costs that you may incur when buying a home. It is useful to go through the checklist to ensure that there are no unpleasant surprises that arise after you make an offer on a property.
Mortgage rates have varied widely over time in Canada. Sometimes we can get lulled into believing that the current situation is the norm - when rates are high they will never come down or when rates are low they will never go up. In September 1981 five year rates peaked at 21.46%. Recently they have been below 3.00% for a five year term.
Check the History of Mortgage Rates in Canada to see how rates can rise and fall over time.