TTC Bus In 1923

If you commute in our city (or any major city in the world) how can you resist picking up a Metro and browsing through the day’s top headlines? This morning I picked one up and found out 10 things about the TTC. I was amazed to learn that each subway car filled during rushhour is the equivalent to replacing 910 cars in rushhour traffic. That is amazing! A service that many of us take for granted. Here is the top 10 list:

1- One six-car subway train replaces the equivalent of 910 vehicles in morning rush hour, while one bus replaces the equivalent of about 45 vehicles.

2 -The TTC’s fleet consists of 700 subway cars, 248 streetcars and 1730 buses.

3- In 1921, the first motorized buses began operating, and in 1954, the first subway line — from Union to Eglinton Station —opened.

4- By the end of 2009 (that’s just three months away), hybrid buses will make up 40 per cent of the TTC fleet, and by 2012, all buses will be equipped with bike racks.

5- If you don’t have the exact fare when boarding a bus or streetcar and have to pay the fare with a large bill, ask the driver for a refund voucher, which you can bring to the TTC head office for a refund.

6- The door chime on the subway is the first three notes from the Sesame Street theme song.

7- At the Bay subway station, there is actually another unused subway platform on a lower level, often used by film crews. It’s been used in films including Extreme Measures starring Gene Hackman and Hugh Grant, Don’t Say a Word starring Michael Douglas and many others.

8- Wheel-Trans, the TTC’s fully accessible door-to-door specialized system, makes about 5,000 trips each weekday.

9- With 1.5 million passengers each day, the TTC has one of the highest per capita ridership rates in North America.

10- The last year that fare revenues met TTC operating expenses was 1970.
source: Toronto Transit Commission

The Merix 50/50 Wise Mortgage is a closed mortgage that lets borrowers take advantage of low fixed rate and low adjustable rate products all in one mortgage. 50% of the mortgage is in a 5 year fixed rate and 50% of the mortgage is in a 5 year Adjustable rate. The Adjustable rate can be locked in at any time to a fixed rate for the remainder of the term of the mortgage.

If you would like to find out more about this product and how you can use it, please call Christopher Molder, Toronto Mortgage Broker at 416.461.0204ext2.

U or W?

As a Toronto Mortgage broker, my clients rely on my advice not only while they are making their financing decisions but also in the years after making the decision to determine whether they are still on the right road and on track.

As such, I pay attention to the economy. One of my favorite areas of interest is determining what shape (literally) our recovery will take.

Will it be a sharp quick recovery? Usually described as a ‘V’ or will it be a long drawn out recovery with an extended low trough, described as a ‘U’. Or will the recovery take place as a ‘W’ with two very distinct drops. We’ve already had one drop. It seems that we are on the road to recovery with Toronto real estate prices remaining firm, however, I suspect that we haven’t seen the end of the recession. I’m anticipating a second drop.

If you’d like to read more, check out Nouriel Roubini who wrote an insightful article in the Opinions section of today’s Globe & Mail, entitled “Double Dip Recession Threat“.

If you’d like to talk about your mortgage and determine how best to position yourself please don’t hesitate to give me a call. Christopher Molder, Toronto Mortgage Specialist 416.461.0204ext2

Pressure on fixed 5 year: Down.

Financial Post – Markets. Lenders typically like to keep a spread of 1.70% to 1.80% between their fixed five year rates and the current 5 year bond yield. If the bond yield increases then the spread will shrink putting upward pressure on mortgage interest rates. The reverse is also true. If bond yields decrease then the spread widens and there is downwards pressure on fixed rate mortgages.

Pressure on fixed 5 year: Down.

Financial Post – Markets. Lenders typically like to keep a spread of 1.70% to 1.80% between their fixed five year rates and current bond yields. If the bond yield increases then the spread will shrink putting upward pressure on mortgage interest rates. The reverse is also true. If bond yields decrease then the spread widens and there is downwards pressure on fixed rate mortgages.

Pressure on fixed 5 year rate: down.

Financial Post – Market. Lenders typically like to keep a spread of 1.70% to 1.80% between their fixed five year rates and current bond yields. If the bond yield increases then the spread will shrink putting upward pressure on mortgage interest rates. The reverse is also true. If bond yields decrease then the spread widens and there is downwards pressure on fixed rate mortgages.

Pressure on Fixed 5 Year: Down.

Financial Post – Markets. Lenders typically like to keep a spread of 1.70% to 1.80% between their fixed five year rates and current bond yields. If the bond yield increases then the spread will shrink putting upward pressure on mortgage interest rates. The reverse is also true. If bond yields decrease then the spread widens and there is downwards pressure on fixed rate mortgages.