Transportation says its closing the interchange for up to 6 weeks to widen on-ramps for new bus lanes and to do some grading. Vehicles will access Confederation Way from the signaled intersection on Highway 63.
The detour is scheduled to finish by the end of August with the interchange, and new highway lanes opening for good on October 31st.
For the past few years, we’ve all been talking about the changes to amortization periods and how that affects housing affordability. Now, CMHC has issued new guidelines for calculating debt service ratios.
Stricter Debt Ratio Standards on the Way.
The fine folk at Canadian Mortgage Trends explore The Intricacies of Mortgage Pre-Approvals.
The Bank of Canada maintains rate, at 1%. This leaves our prime rate at 3% where it has been since September 2010.
The 5 year bond yields are up over 30 basis points in May. Should they stay this high, one should expect fixed interest rates to rise as well. It may be prudent, should you be looking to make a purchase soon, to contact your mortgage broker and secure a rate hold.
Here’s an interactive graph, showcasing Bond yields
Here’s an informative description of how Scotia’s HELOC or STEP (Scotia Total Equity Plan) works.
Contact Charlotte Roach (780.215.4431) who is Scotia’s mobile mortgage specialist, for further details.
Photo radar locations for week of May 13-19.
- Gregoire Drive
- Barber Drive
- Simcoe Way
- Morimoto Drive
- Beacon Hill Drive