Top Notch Toronto Schools Attracting Home Buyers
There are many reasons why people are attracted to Toronto and the Greater Toronto Area: strong economy, jobs, vibrant arts community, and cultural diversity—to name a few. However, a growing number of people with young families or those about to start their post-secondary education move to Toronto because of its world-class schools.
Toronto is the largest city in Canada and the provincial capital. Not surprisingly then, it is home to the largest school board in Canada (Toronto District School Board), a growing number of independent, private, and religious schools, and some of the most prestigious post-secondary schools.
In fact, the education sector is one of the City of Toronto’s largest employers with 1,400 educational establishments and related businesses.1
The city is home to four publicly funded K-12 school boards, one non-publicly funded religious K-12 school board, K-12 private and preparatory schools, and other cultural, religious, vocational, and alternative schools.
Between 2012 and 2017, the last years for which data is available, the graduation rate for the Toronto District School Board was 86%. Since the TDSB began following graduation rates in 2000, the number has risen 17% from 69% to 86%.2
Universities and Colleges
Toronto is home to four publicly-funded universities and one private university. OCAD University, Ryerson University, University of Toronto, and York University are public institutions while Northeastern University Toronto is private.
University of Toronto was founded in 1827 and remains one of the top universities in the world. In an academic ranking of global universities, University of Toronto ranked 23; the highest ranking of any Canadian school.3 In the 2018 Performance Ranking of Scientific Papers for World Universities, it ranked #4, and in the 2018-2019 University Ranking of Academic Performance, the school ranked #2.4,5
The city of Toronto is also home to four publicly-funded community colleges: Centennial College, George Brown College, Humber College, and Seneca College. In Toronto, you can also find more than 140 private career colleges and more than 55 language training schools that are both private and publicly funded.
Families with younger children are attracted to the city’s innovative and effective teaching in K-12. Those looking for a top notch, affordable post-secondary education that will ensure their future success, come to Toronto to attend the city’s numerous colleges and universities.
Some families moving to Toronto to take advantage of its schools though have found it difficult to get onto the property ladder. That’s because the big banks have introduced a large number of inhibitive lending rules. This means an increasing number of potential homebuyers are being rejected by traditional lenders.
Because of this though, more and more high-quality borrowers are discovering the benefits of using a Mortgage Investment Company (MIC) like Mortgage Company of Canada. Because MICs are not governed by the same federal rules as the banks, Mortgage Company of Canada can provide mortgages that meet their client’s unique needs.
On top of that, because of stricter lending rules, higher quality borrowers are being rejected by banks, meaning Mortgage Company of Canada can be more selective about who it lends to.
Mortgage Company of Canada: Helping You Invest in High-Yield, Private Mortgages
Stricter lending rules and higher interest rates has put home ownership out of reach for many people looking to live in the Greater Toronto Area. Even those with good jobs and high credit scores, who would have had no trouble getting a mortgage just a few years ago, are now being turned away by traditional lenders. On the plus side, more and more higher quality borrowers have discovered just how convenient, faster, flexible, and easier it is to get a mortgage with Mortgage Company of Canada.
Investors meanwhile have learned the benefits of investing in Mortgage Company of Canada. Because we follow an industry leading due diligence process and have a diversified pool of mortgages secured by residential real estate, Mortgage Company of Canada has been able to provide its qualified investors with above average yields.
In December 2018, investors in Mortgage Company of Canada realized a trailing 12-month yield of 9.65%, with distributions paid monthly. That even topped our own aggressive in-house target of 9.25%.6
Had you invested $100,000 with Mortgage Company of Canada in 2009, in December 2018, that investment would be worth $262,880.
How do we do it? At Mortgage Company of Canada, our objective is to provide investors with an attractive risk-adjusted return by investing in mortgages secured by single family homes in the GTA.
Currently, our diversified mortgage pool is made up of more than 700 mortgages with an aggregate value of $228 million. Because of the strong real estate market in the GTA and Golden Horseshoe, our portfolio has increased by 70% over the last 12 months.
A full 83% of these smaller residential mortgages are located in the GTA. Of those, 76% are made up of first mortgages. Overall, 56% of our mortgages secured by residential real estate matures in six months; 100% matures in less than one year.6
In addition to having a leading management team with extensive experience in real estate, the risk market, and the public market, Mortgage Company of Canada is overseen by an independent majority board, something unique to the entire MIC industry.
1. “Education” City of Toronto web site, last accessed February 7, 2019; https://www.toronto.ca/business-economy/industry-sector-support/education/.
2. “Graduation Rates,” Toronto District School Board web site, last accessed February 7, 2019; https://www.tdsb.on.ca/High-School/Graduation-Rate.
3. “2018 Academic Ranking of World Universities,” ShanghaiRanking Consultancy, last accessed February 7, 2019; http://www.shanghairanking.com/ARWU2018.html.
4. “World University Ranking By 2018,” NTU Ranking, last accessed February 7, 2019; http://nturanking.lis.ntu.edu.tw/ranking/OverallRanking.
5. “University Ranking by Academic Performance,” Informatics Institute of Middle East Technical University, last accessed February 7, 2019; http://www.urapcenter.org/2018/country.php?ccode=CA&rank=all.
6. “December Newsletter,” Mortgage Company of Canada web site, last accessed February 7, 2019; https://www.mcoci.com/wp-content/uploads/2019/01/Mortgage-Company-of-Canada-December-Newsletter.pdf.