TD PRIME GOES DOWN!!

 

TD Canada Trust has made the following changes to rates:

Decreased the TD Prime lending rate to 3.50%, effective December 10, 2008.

This rate change only affects the float HELOC product.

Note: TD Mortgage Prime will change on January 1st, 2009 which will impact the Variable Rate Mortgage.

Canada’s best mortgage rates!

 

Rates on TD Canada Trust HELOC Changes

Good News!

 

TDDave Vancouver David Hudson

TD Canada Trust has announced that HELOC account changes for the benefit of those with existing TD Canada Trust HELOC accounts who would like to have access to additional equity!

 

For the last few weeks the target HELOC float pricing for the major banking institutions has been set at prime + 1% or 100bps, this has presented a problem for clients who have their float portion priced at prime and wanted to increase the limit. After all why should you be ‘penalized’ for being a loyal customer and wanting to borrow additional funds—the banks should be hungry for your business!

 

 

TD Canada Trust has taken steps to further position itself as the market leader in the Home Equity Line of Credit market. It was announced that all new HELOC accounts for existing customers would be at prime + 0.5% or 50bps (depending on a first or second position) here is a breakdown;

IF –

1st position      

      -          Retain existing HELOC account at current rate, no limit increase

-          Process a new HELOC account in 2nd position at target rate for the required increase amount

-          New registration charge require

            II

-          Close existing HELOC and open a new HELOC in 2^nd position

-          Rate on increased HELOC limit is the greater of the existing rate or Prime + 0.50% and applies to the total (original AND additional) HELOC limit

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Because I treat your money like its mine, when it’s time to save you money or make you money, I am like a ‘Warrior!’ Money is an emotional issue and to represent yourself is like performing surgery on yourself. You would never do that, would you?

 If being healthy is important to you, then you delegate that to a person you trust and respect. Like me, you probably believe it’s in your best interest to have a skilled, experienced and focused negotiator on your team! TDdave

 

 

 

TD Lower Mortgage Rates

November 7th 2008 TD Canada Trust is please to advise of a new limited time offer effective Novemer 8th, 2008 Limited Time Offer of 5.34% on the 4-Year Fixed Mortgage * applies to new applications up to November 30th * Must be funded by March 31st 2009 *Offer may be changed to withdrawn at any time Great news for those who are looking for the stability of a fixed rate, or are looking for the maximum qualification. Until today’s announcement the 3 year fixed rate at 5.7% was the lowest qualifying rate. This will allow borrows to qualify for more mortgage while keeping there TDSR and GDSR in line. I am always happy to answer your mortgage questions, please drop me a line at david.hudson@td.com Cheers, David

TD Canada Trust raises home equity loan rates

*Update April 23, 2009 Current pricing structure on the HELOC is at Prime + 1.5% = 3.75% on the float portion of the account*

“TORONTO — One of Canada’s biggest mortgage lenders, TD Canada Trust, is increasing the interest rate charged for its home equity line of credit and variable-interest mortgages.

The bank has been charging its prime rate for its Home Equity Lines of Credit — which uses the value of the customer’s home as collateral — but will start charging one percentage point above prime.

TD Canada Trust also is increasing the rates for its open and closed variable-rate mortgages to one percentage point above prime, effective Tuesday.

The prime rate at TD and most major Canadian banks has been 4.75 per cent since April, the last time the Bank of Canada changed its target for its overnight lending rate.

With the change, TD customers who have borrowed under those lines of credits or variable mortgages will be paying an annual rate of 5.75 per cent unless the prime rate changes again.”

Banks around the world, including in Canada, are finding it more expensive to borrow money on wholesale markets, due to the turmoil in the U.S. financial sector.

TD Canada trust has raised the “base” rates for the Varible Rate Mortgage products and the Home Equity Line of Credit. This prime plus pricing is a sharp contrast to what we were offering just a few short months ago. Shortly after the notice we have seen the majority of the other Canadian Banks follow suit.

It is difficult to gauge how long this pricing structure will last, what started out as a mortgage meltdown has blown into a global credit crisis.

David Hudson

Giving Your Home a Makeover

Renovation, TD Canada Trust Mortage, BC Mortgage Information, HELOC, Self Directed mortgage, Home Equity Line Of Credit

You would probably be hard pressed to find a single person that loves every feature of their home. Most of us have a laundry list of things that we would like to be done to make the house perfect. But is it important to implement those plans?

Our homes are one of our most important investments. And the design and function of our home affects our lives every day. But in terms of investment potential, are we more likely to make money on our property if we remodel or move to a home that’s a better fit?

Sometimes remodeling pays off and sometimes it doesn’t. Almost always, the remodel represents a significant investment of money. No one wants to invest in something that won’t pay off, but it can be hard to determine if your plans offer true potential profits. Click here and learn which improvements add value to your home

You can use some points to help you evaluate whether the remodel is worth it or not, or whether it will affect your home’s resale ability. Here are a few points to consider.

Does it affect the curb appeal of the home?

Is your remodel going to make your house more attractive? If you were trying to sell your property, would it make people more inclined to stop and take a tour? Sometimes minor investments, like a fresh coat of paint on the front door, a few new flowering shrubs and a groomed front lawn are all you need to make the house presentable from the curb.

Will the remodel make your home competitive with your neighbors?

Is there something about your home that is lacking, that other homes have already? Maybe you need to add an extra bath. If you only have one bathroom when all the homes surrounding you have two or three, the remodel will definitely make your home more competitive with the those surrounding it.

Will the remodel make your home stand out?

Is there something about the remodel that will make your home distinctive from other homes? Emotions guide most buyers, and if they see features that are attractive, even upgrades from other homes, you property is more likely to resonate with them as being attractive.

Is your remodel going to add something people like or demand in houses?

Just like with clothing, there are parts of a home that become fashionable and parts that aren’t. For instance, stainless steel appliances are far more appealing than old generic white ones. Think about trends and the length that it will be in place before you make final decisions about what to add to your home and how buyers may view it.

Renovating is something you do for yourself and your family to make your home more enjoyable, but it’s also something you have to think of in terms of attraction to others. Depending on how long you intend to be in a home, unless the remodel makes the home more “sellable”, it may just not be worth it. On the other hand, some changes add great value to your personal enjoyment of the home.

Remodeling your home can help you fall in love with your home all over again, and it can be a great long-term investment strategy. A good remodel can add years and dollars to your home.

Contemplating a Renovation? If so, you’re probably trying to figure out the best way to pay for everything. A TD Canada Trust Home Eqity Line of Credit can be used as a mortgage and a personal line of credit all in one. With the ultimate in convenience and flexibility, TD’s Home Equity Line Of Credit (Self Directed Mortgage) might very well be the low-cost financing choice you need to get your profect underway sooner than later! Set up your appointment today TDdave