Buyers catch a break as house prices dip

A cooling house market, confirmed in sales figures released yesterday by the Toronto Real Estate Board, means the pendulum has swung in favour of buyers.In September, home sales in Toronto dropped 11 per cent to 2,546, compared with the same month in 2007 - a record sales year.

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  Note: Above Mortgage Calculator assumes monthly compounding. Canadian Mortgages are typically compounded on a semi-annual basis resulting in slightly lower payments.