Mortgage Intelligence

Oshawa's Mortgage News Desk!


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Capital gains tax: a quick primer

Leading up to the last federal budget, there was speculation that Canadians should brace for some changes in capital gains rules. That didn’t happen, and that’s good news. The sale of your principal residence for a gain is still a tax freebie.  If you are selling a property other than your principal residence, then you’ll pay tax on 50% of any gain you realize. That rate first went into effect in 1972. The inclusion rate was increased to 66.6% in 1988 and then to 75% in 1990 as part of a two-stage increase.  But it was ratcheted back down in 2000, and landed once again at the 50% rate where it has remained to today. You are now required to report the sale of your principal residence on your tax return. While still tax exempt, you may be asked to prove that it was your principal residence. If the feds do once again increase the inclusion rate, we can expect the government to provide ample advance warning to allow people to adjust their financial situations. So basically no real changes, but keep good records!

Want to find out more information on how capital gains from the sale of your residence will affect you? Speak to an extpert at MiMortgage.ca at 1 866 452-1100 now!

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March Is Fraud Prevention Month

House Fraud is one of the largest in Canada.

This is largely due to the high value of our homes.                                                            Fraud and Identity Theft

Do you think it’s impossible that your house could be sold without your knowledge?

Wrong! It happens more than you can imagine.

Its starts with Identity Fraud and that leads to Housing Fraud.

This week you will learn how to protect yourself.

The following article is courtesy of RECO. Real estate Council of Ontario.

Fraud and Identity Theft.


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Open House – 29 Ashdale Cres. Bowmanville.

Open House

This coming Sunday March 9th Patricai Bobyk of Remax Jazz

is holding an Open House at

29 Ashdale Cresent Bowmanville.

View Patricia’s Tour of this exceptional home! 

Front Door

   Patricia Bobyk

Visit Patricia’s site for more listings! 


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What Will 2014 Bring to the Housing Market?

From Tighter lending guidelines to Credit Unions stealing market share.

We are bringing you the top 5 predictions for the housing and mortgage

market in 2014. mortgage predications 2014

The Globe and Mail provides insight into what we should expect.

Read the full article here.

When it comes to sound mortgage advice and great rates, our customs turn to our team of knowledgeable and experienced Mortgage Agents. Shouldn’t you?

What are your thoughts on the predictions. Use our handy form to leave a comment.


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How High Can They Go?

 Today’s Announcement by the Bank of Canada will do nothing to keep the rising prices at bay.

GTA Home SalesHome Sellers in Toronto aren’t complaining about the ongoing increase in prices in the GTA according to The Globe and Mail, as a matter of fact prices are up 115 over the same time last year. The fact is its tougher for Home Buyers with homes being so much less affordable. TREB also notes that the volume of home sales have increased over last year with the GTA Condo Market continuing to demonstrate strong sales. Low interest rates are likely the thing prompting buyers to take part in such a high priced marketplace. With recent reports indicating that a soft economy will cause the Bank of Canada to hold rates until well into 2015 we will have to see if the prices will continue their climb. Get a same day pre-approval, apply now.


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Durham Region Real Estate News.

Strong Sales, Stronger Price Gains!

If there’s been slow down in the real estate market in October then Durham Region Realtors haven’t been told about it!

In comparison to last year’s sales for the month DRAR reported 924 transaction compared to 849 in 2012. That’s an increase of 9%

The overall sales for the year have been a bit slower with a 3% reduction in sales. To date last year there were 9,432 sales and this year there were 9,152. Not a very significant change.

While the number of sales for the year are down slightly, the dollar volumes is up 17% indicating that prices are still increasing in Durham.

 www.DurhamRealEstate.org. for all the monthly stats from the Region.