Interest rates are going up, and the federal finance minister says he expects them to rise even more.

The Royal Bank increased several of its posted and special mortgage rates on Tuesday, joining TD Bank and CIBC. All three banks have increased the posted rate for a five-year closed mortgage by a quarter of a percentage point, to 5.44 per cent. RBC also raised its special fixed rate offer for a five-year closed mortgage by the same percentage amount, to 4.39 per cent.

Finance Minister Jim Flaherty said he’s not surprised. “The recent increase by a couple of the banks is exactly what we expected,”

Here is what you can expect form Coldwell Banker Peter Benninger Realty’s Mortgage Alliance Team

5 year Fixed Mortgage
          Quick close 3.94%
          90 day closing 3.99%
Rates can be held guaranteed for 120days for qualifying applicants

Contact me today to get additional information (519) 577-8181 or dpellerin@coldwellbankerpbr.com

The Benefits of using a Real Estate Sales Representative – The Buyer Perspective

Consider the benefits of using a real estate sales representative. From a Seller viewpoint they are very numerous but what about from the Buyer perspective? Approaching the market looking for a place to purchase can be a complicated, convoluted process. A real estate professional can help simplify things by providing information and know-how.

The first benefit of using a real estate sale representative as a buyer is the amount of information available. Although the MLS will provide you with information, the tools available to the real estate professional are not accessible to those who are not licensed. These tools allow the sales person to sort out and target your precise goals and criteria. This will save you many hours of work and possible frustration getting to top properties before others do.  In Ontario a REALTOR^® works under a Buyer Representation Agreement. This is nothing to be afraid of because if you are not satisfied with your representative, you can cancel the agreement at any time. If you want further protection look to this trade make Ultimate Service^® and ask your representative if they work under this stringent control.

Another benefit of using a real estate sale representative is the experience factor. This is an invaluable component as buyers may be entering the market unaware of several facts and figures. A representative is immersed in the markets and understands the ebb and flow of everyday business, making him or her in tune with the fundamentals and the details. He or she understands which listings may be over-priced and which ones may be ideal. Buyers can also benefit from this experience by being exposed to information about returns on investment.

A real estate professional also brings adherence to a code of ethics, offering a layer of protection and an understanding of the legalities that others lack. In putting these ethical issues in the forefront, a registrant can help navigate the often-confusing fray of real estate purchases for a buyer. This can help eliminate potential personality conflicts or business complications, and can grease the wheels for a smoother operation.

The skill factor also rates as a real estate professional is equipped with the know-how in terms of evaluated homes properly. Representative can narrow down a potential home’s strong points and can focus-in on the negatives coming up with a clear picture of a piece of real estate. Registrants also highlight comparable properties using their levels of skill to zero in on fundamentals of a certain area to showcase the bigger picture to potential buyers.

Real estate pros can also help weed out the over-priced For Sale By Owner, improving the odds of getting quality properties by taking the lead in negotiations. In this capacity, real estate agents are professionals and can eliminate many of the complex hang-ups experienced by private dealings.

Real estate professionals bring their contacts to the table in any arrangement which means that buyers can draw on a host of experienced professionals in other fields. This can include home inspectors to reveal details about a certain house that a rudimentary examination wouldn’t turn up. Contractors and other professionals are also in on the experience providing a full complement of business contacts that can help in defining the finer points of the buying procedure to reveal key information vital to understanding the transaction.

Finally, real estate sale representatives give guidance in developing financing terms and the legal component required to ensure its validity. Because real estate professionals stay attached until the deal is done, buyers and sellers alike can rest assured that the fundamentals are covered to protect both parties.

Waterloo Real Estate