Plus, this week’s lowest variable and fixed mortgage rates
. The overwhelming majority of floating-rate and renewing borrowers are now paying rates around 6 per cent or more, with lesser qualified borrowers north of 7 per cent. We might be approaching a point where the wheels come off for a critical mass of borrowers.
. This marks the first time BMO and TD have provided detail on loans that were increasing in size. Until now, the two banks did not disclose the information to shareholders, which suggested it was immaterial.Home of the Week, 3200 Clam Bay Rd., Pender Island, B.C.This 104-acre property, originally a farm dating back to 1874, has had many owners.
Today the property includes the farm, vineyard, acres of untouched old growth forest, a pond, a sawmill, a water treatment plant and a powerful generator. The most recent owner, U.S.-born investor Kiril Sokoloff, commissioned architects Kim Smith and Bo Helliwell to design a new primary residence on the land. Point House, finished in 2020, provides five bedrooms and six bathrooms in 6,603-square-feet of living space. A long driveway winds through the property to a house of stone, glass and wood designed with a combination of conventional framing and timber framing.
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