Toronto Home Values Drop 13% in October

There are more signs out there that credit crunch is starting to effect Canadians.

- Toronto home values dropped average 13% in October
- Citifinancial Canada announced they no longer offer 100% financing
- Institutional lenders are seeing sudden jump in foreclosures
- Private lenders hesitate to lend over 85% of home value
- Alternative lenders are not renewing mortgages

These are just a handful of today’s headlines all of which confirming that credit crunch and the global economic slowdown are starting to have an effect on Canadian homeowners and Canadian home values.

However, there are still good refinancing options out there so don’t get discouraged by these depressing headlines.

Go to my website and complete the online request to receive your financing options before more lenders decide to make it even harder to borrow.

Thank you

Joe Malek, Mortgage Agent
www.joemalek.com