Although the focus of this article is geared towards metropolitan areas, it is still relevant for smaller cities such as Fort McMurray. There are valid arguments for both Pros and Cons of Downsizing Your Home.
Hospital Street has been shut down for nearly two days. It now appears that one teen was shot by RCMP while trying to flee in stolen vehicle, two other teens in the stolen vehicle were arrested.
Despite the objections put forth from the Golden Years Society, regarding the land use for Willow Square, the Downtown rejuvenation plan passed tuesday night.
Regional Emergency Services’ Fire Prevention Branch Fire Investigators have made progress in Parsons Landing fire investigation.
Additional information for displaced residents of 350 Parsons Creek Drive.
Keyano College held the second Community Image Summit where organizers aim to reshape the perceptions of Fort McMurray across the country.
École Dickensfield School Chess Club prove victorious at their first tournament outside of Wood Buffalo! The tournament was held in Edmonton last weekend.
CanadianMortgageTrends.com has a great read on choosing an appropriate Mortgage Term.
We too find that the vast majority of our clients are focused on the interest rate. The interest rate is important, it affects the cost of borrowing, however it is not the sole factor to base your mortgage decision on.
The Bank Of Canada announced that there will be no change to their Interest Rates. This marks the 11th consecutive time that the the borrowings costs have remained unchanged.
Meanwhile a number of banks have recently dropped their 5-year lending rates to record lows.
There has been a lot of media attention regarding a BMO rate special of 2.99% on a 5 year fixed. However, there are some other details you must also consider, rather than solely the interest rate.
· Full Payout allowed only on sale to non-related individual. That means even by selling to a family member you cannot get out of the mortgage. Must be sold to a 3rd party.
· Limited pre-payment options.
· 90 day quick close, so no long possessions possible.
· Rate being offered from January 12 – January 25th only.
Actual text from BMO: “Full repayment before maturity can only occur if property is sold to an unrelated purchaser at fair market value or if the mortgage is renewed or refinanced into another BMO mortgage product. Prepayment charges will apply.”
Even if you try refinancing to another BMO product, full prepayment penalties would apply.
The Municipality released a tentative schedule for the Snow Removal.
· Abasand – scheduled to start January 15
· Beaconhill – schedule to start January 22
· Dickinsfield – scheduled to start January 20
· Downtown – snow removal started on January 9
· Greyling Terrace – scheduled to start January 15
· Prairie Creek – scheduled to start January 24
· Thickwood – scheduled to start January 23
· Timberlea – snow removal started on January 9
· Waterways – scheduled to start January 17
· Wood Buffalo – scheduled to start January 18
Tim Hortons are “working aggressively” to get a third location in Fort McMurray.
However cars continue to spill out of the Tim Hortons drive-thru onto Thickwood Boulevard, and Hardin St. Bylaw Services says it’s just a matter of time until those violating the no stopping zone will be fined.
