One thing that has been nice to see during this difficult time is how the institutions that support the Canadian economy have stepped up to bolster us all during COVID-19.

Here are ways that the big banks are stepping up.

This past Friday April 3rd, several banks including the big 5, Bank of Nova Scotia, Toronto-Dominion Bank, Royal Bank of Canada, National Bank of Canada and Canadian Imperial Bank of Commerce all cut credit card rates in order to support customers during the COVID-19 shutdowns. 

Financial Post

This is just the latest action that the banks have taken to help Canadians manage the financial burden of COVID-19. Earlier in March banks began offering up to 6 months of mortgage payment deferrals to help Canadians who may have difficulty making mortgage payments during COVID-19.

Understanding Mortgage Payment Deferral - CMHC

While most banks won't outright postpone payments interest free it does offer some much needed relief to anyone temporarily laid off due to shut downs or slow work during the pandemic.

Global News

The only area thats been slowing in the last week are mortgage rates which are seeing some rise after multiple rounds of cuts following the bank of Canada's cuts in March. On March 27th the Bank of Canada lowered the overnight rate to a 1/4 percent. 

According to a James Laird, president of mortgage brokerage CanWise Financial and co-founder of Ratehub.ca "a few weeks ago, the best mortgage rates were something in the range of between two and 2.5 per cent. Today, they're between 2.5 and three per cent because, as he puts it, "they are demanding a higher risk premium than what they typically do." CBC

That said rates are still very low historically.

Looking for help navigating your financing for a home. The best person to speak with is Jim. In addition to being your real estate broker Jim has been a mortgage broker with Entrust Financial for over 2 decades. 

Have a question call Jim at 905-409-9967.

Licence #: 10891

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So you've decided its time to move.  Don't just put your home on the market hoping for the best. Get prepared and put yourself in a position to get the biggest results.  After all, this was a huge investment for you and will most likey impact where and what you buy next.

Here are 5 simple things that you need to do to get your home ready to show and sell!

1. Take an inventory of your home. What has been updated or renovated and what might need repairs and updates.

2.  Declutter. Imagine you were a prospective buyer.  Would you be impressed with a home that was full of someones stuff?  Buyers want to see the home, not all of the owners belongings. Clearing off counters to show space and putting everything away neatly gives a good first impression and not only increases the chance of selling, but also the price!

3. Deep Clean. This goes hand in hand with decluttering.  Make sure windows, mouldings and appliances have all been cleaned and dusted. Don't use any harsh chemicals that leave a strong odour.  A clean home with a nice neutral smell feels more inviting. This will let buyers know that your home has been well cared for, making it more likely they'll want to bring an offer.

4.  Decide on painting and staging.  Painting and staging can potentially increase the value a home is sold by up to 5% and you may not need to do much.  

5. Time your sale.  Are there alot of similiar homes for sale in your neighborhood? How is the buyer pool looking at the present moment? Knowing these things can help you time the sale of your home to maximize your profits.

Getting your home ready to sell can seem like a daunting task, but it doesn't have to be.  Our team is here for you!  From step 1 to step 5 we will be there to walk you through the process.  We will inform you on what repairs or renovations will be worth your while, help with the declutter and cleaning, offer a staging consultation and prepare a marketing plan based on the current market trends.  When we list your home, we will get you the best deal possible. We have have helped countless clients acheive amazing results and we know we can do the same for you.   

If you are thinking of making a move, call/text or email us today and we can get you ready, sold and into your next home! 

Ben Stanton

(M) 905-995-3372 (E) bstantonrealtor@gmail.com 

Do you know the Value of your home? Get  Your Free Online Market Evaluation !