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Cass-A-Bella Construction, Toronto Ontario Canada M4G 3T4 – (416) 241-3471Article 4

2012 February Newsletter

The big interest rate news this week came from the fact that bond yields were up a bit causing lenders offering the 4 year promotional rate of 2.99% to withdraw this “unpublished” offer. It happened to conveniently coincide with the end of Bank of Montreal’s recent campaign of a 5 year rate for 2.99%. That offer came with a few more restrictions, but undoubtedly got them some attention and certainly some new business for the bank. Even after the major lenders removed the promotional rates, there are still a few 4 year offers below 3%, but they are only available for high ratio insured deals, and only through mortgage brokers.

Gasoline pricing continues to affect the cost of construction materials and labour. Despite the unprecedented low interest rate which has allowed thousands of home owners to take advantage and build additions and new homes which would certainly not be the case if mortgages where double their current figures, gasoline has been taking the steam out of those savings. With the passing of each month, the cost of building continues to rise, thus making it more difficult for homeowners to get 100% of what they want to build. In many cases, owners are looking at bottom line pricing rather then what a builder has to offer in his contract. Then finding out the hard way of the many items/service etc that are not covered in a contract and get hit with endless extras on the job.

As the world economy continues to slide, the Canadian economy specifically Toronto, continues to remain strong. Toronto still has a record number of permits, a record number of projects under construction, a record number of home sales, a record number of immigrants coming to live here, a record number of investors investing in real estate. And the average house price in Toronto is rising at an unprecedented rate. Toronto is still the number one city for foreigners to invest.

Select a builder that has the capability to deliver the project. Put your trust and hard earned investment dollars as well as your family's future in the hands of a reputable builder. Trust Cass-A-Bella Construction.

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