Jason Mercer: Richard Silver

Mortgage Rates Dept: What s fuelling it? Those bargain-basement mortgage rates keep affordability in line, even as prices have risen, says Toronto Real Estate Board analyst Jason Mercer, according to The Star. There is also a rush of foreign money looking for security, as trouble spots multiply overseas. Re/Max Realtron broker Bill Thom says his immigration consultant friends are reporting new interest from the well-heeled in Greece, Italy and Spain, and real-estate board president Richard Silver recently welcomed a visiting group of realtors from India and talk to real-estate agents, and most express disbelief at how the Toronto market keeps defying the doomsayers month after month. Factor in the number of potential buyers per house, and you ve got a recipe for price hikes. Mercer says recent sales totals projected annually could make 2012 the second-best year on record after 2007 , even as listings have lagged. Related: How to win a real estate bidding war (www.immigrantscanada.com). As reported in the news.