In This Issue
- Our Best Rates
- RENOVATION GENERATION: Does renovating pay?
Our Best Rates
| Terms | Posted Rates | Our Rates |
| 6 MONTHS | 4.45% | 4.40% |
| 1 YEAR | 3.20% | 2.75% |
| 2 YEARS | 3.55% | 2.99% |
| 3 YEARS | 3.95% | 3.19% |
| 4 YEARS | 4.64% | 3.29% |
| 5 YEARS | 5.14% | 3.29% |
| 7 YEARS | 6.35% | 3.99% |
| 10 YEARS | 6.75% | 3.99% |
| Rates are subject to change without notice. OAC E&OE | ||
| CURRENT PRIME RATE IS | 3.00% |
| PRODUCT | RATE |
| Variable Rate Mortgage: Prime - 0.00 | 3.00% |
Home Renovating
RENOVATION GENERATION: Does renovating pay?
These days you can't surf the TV without seeing a program about home
renovations; we're the renovation generation! It's enticing to believe that you
could be one of those ordinary homeowners who transforms their living space into
a decorators dream – whether to enjoy with friends and family, or to boost the
home's value before selling.
Before you start shelling out money, think about the reasons why you want
to renovate. Do you want to increase the comfort and enjoyment of your home
because you're planning to be there for the foreseeable future? Do you want to
spruce up your old kitchen to avoid lowball offers when you sell your house
later this year? Or maybe a little of both? If you're planning to sell, your
priorities will likely be different than if you're planning to stay for a few
years. It can be difficult to recoup the full cost of renovations so you may
want to focus on those that have the highest payback potential.
The Appraisal Institute of Canada's RENOVA website is an interactive guide to help you determine the payback value of home improvements. For the next five weeks, we'll share the top renovations that pay off for Canadian homeowners according to RENOVA!
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