How does Canadian real estate affect the American market?
Given that all markets are local, the general Canadian market has no effect in the U.S. and vice versa. What does have an impact is the preference of individuals to live in one community or another. For instance, many Canadian “snow birds” own property in Florida and thus they affect certain local markets. Given the growing value of Canadian currency and the parallel decline of the dollar, expect to see more Canadian investment in the U.S. Q: Our landscaper has an option ARM. His interest rate has risen to 7.8 percent. His principal has risen over $30,000 because of negative amortization. There is a prepayment penalty so he cannot get into a lower rate even if the equity were there for qualification. The lender will “allow” a refi after the loan re-casts in August as long as the prepayment penalty is extended for a year, he qualifies for the then-existing interest rate and an appraisal justifies the new loan. Is it likely that the landscaper will be able to refinance? A: No. The landsc
