2nd Mortgage: 2nd Mortgage - 

Statistics Canada doesn't include house-price increases in its basket of consumer prices, though it does incorporate related costs such rent, repairs and property taxes. Shelter makes up almost a third of the CPI weighting.

And those components may finally be decelerating.

Mortgage rates fell earlier this week after the Bank of Canada cut its key lending rate, and they may fall further as the central bank continues to lower borrowing costs. Homeowners' replacement costs, which represents the cost of maintaining a housing structure, have been decelerating since July and last month's increase was the slowest in more than five years. More>>

Easier for commuters to cross city and regional borders.

Improve fairness of service across the GTA.

A stronger voice for funding at Queen's Park.

Standardized fare system.

Cost savings with bulk buys of equipment.

Would help Toronto to cut costs.

CONS

TTC service in low-demand areas may suffer as priorities shift to 905 region.

Loss of autonomy by the GTA's largest transit system.

Possible loss of iconic symbolism for TTC.

Opens door to zoned fare system, which punishes people in outlying areas.

Nationwide Building Society said it was raising its tracker rates for new borrowers by between 0.05% and 0.15% from January 23.

It is the second time the group has increased its tracker rates since November and it blamed the move on the high funding costs it continues to face in both the wholesale and retail markets.

The building society joins a growing list of mortgage lenders who have been forced to raise their rates as a result of the higher borrowing costs due to the global credit crunch.

Matthew Carter, divisional director for mortgages at Nationwide, said: "Nationwide offers a wide range of mortgages to its customers, whether they are interested in a fixed rate or a deal that tracks the Bank of England rate. More>>