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Subscribe to Mark's valuable RE/MAX Real Estate newsletter You will receive useful Real Estate information for Mississauga and surrounding areas. Plus you will learn many tips and secrets when selling or buying your home, I will show you where to find the 'best' mortgage interest rates as well as provide you with timely information and a comprehensive overview of GTA price trends.
See them all Here
As of today, I have listings that you may be interested in and all the details and photos for them are located on my site at this listings page
I have rental properties that are located at this page
As of today, I have many listings that you may be interested in and all the details and photos for them are located on my site at this listings page
Excellent 3 bedroom home for rent $1675/month
Great condo townhouse for rent, 1 bedroom unit for - $1250/month
Outstanding detached home backing Ravine - Milton - $784,900 SOLD!
1 Bedroom RENTAL UNIT at 4975 Southampton Drive in Churchill Meadows - Erin Mills for $1125 per month - many more rentals!
Outstanding nearly New high rise condo located adjacent to Square One Shopping Centre in 4080 Living Arts Blvd, downtown Mississauga - (follow the link below to see pictures and more details for this property) within minutes of schools, parks shopping, shopping centre, transportation and community center $1700/month
1 Bedroom RENTAL UNIT on Bay Street in Toronto! - vacant -$1500 per month - now rented!
See all my current listings for sale and for rent
2 bedroom Square One Condo $1550/month
Ovation II at Square One - 2 bedroom+Den, 2 Bathrooms! for $339,900! now sold!
Absolute Townhome for rent, Burnhamthorpe and Hurontario $2000/month - others available
Beautiful 2 bedroom plus solarium condo at Square One $179,900 sold
Rental Properties in Mississauga
3 bedroom townhouse in Meadowvale $214,900 now sold
Excellent 4 bedroom 2 family room, 2800 square foot home in Central Erin Mills, $569,900 - email me for details! SOLD!
Churchill Meadows, Beautiful Townhomes, $304,900 sold!
Needed, more condos to rent at One Park Tower
These properties are all recently sold!
Outstanding Condo walk to Square One and Mississauga City Centre for $184,900 now sold
Semi Detached with an inground pool in the Homelands area asking $319,900 sold
The Absolute Complex, Townhouse for rent, all utilities included! Ultra Luxury for lease $2100/month available immediately no longer available, sorry
TODAY'S MORTGAGE INTEREST RATES
|| Royal Bank Posted Rates
|5 Yr Closed Variable
||Bank Prime + 0.000%
|5 Yr Open Variable
||Bank Prime + 1.000%
|Bank Prime 2.85%
NOTE: You can often negotiate a discount of 0.3 - .5% or more off posted rates.
"Best" Mortgage Rates
BANK PRIME RATE
As of May 20, 2015 the Bank Prime Rate was
The Bank of Canada announced no change in the bank rate, read more. On
September 8th, 2010 the Bank of Canada increased the prime lending
rate another .25% to make it 1.00%. and it has stayed at that amount
since September 8, 2010. The Bank prime rate is about 2% higher
than this, so Bank Prime charged to the public but in this case, the
banks are only passing along .15% of the recently lowered rate, so
prime to customers is now 2.85%
The major banks in Canada charge their best customers 2% above the Bank of Canada Prime Rate, which means that the Bank Prime or Prime Rate that we see is now 3.00%
Bank Prime Rate means "best" and this is the rate that banks charge their absolute best customers for loans, which is usually only other lending institutions.
Changes in the Bank of Canada prime rate influence changes in other interest rates, including variable interest rate mortgages. This "bank rate" rate fluctuates based on economic conditions.
Some mortgage companies offer interest rates starting at Prime minus .1% (or more) as an incentive to borrow from them! These are known as "SUB PRIME" Mortgages and we know what happened in the US when too many sub-prime mortgages were given out in the mid 2000's One of the dangers with sub-prime mortgages is when they come due too early in the mortgage term and rates have increased, it's difficult to make the change to much larger payments. Read more about Sub-Prime Mortgages
For example, see the
Royal Bank Prime Rates
Bank of Canada Prime rates found here
Benefits of this timely newsletter:
In this Issue
Greetings from Fabulous Mississauga!
- The Average price for last month was
$552,575 (it was $556,602 the previous
month) and this represents aver a
7.5% increase compared to the
same month last year- see
graph of prices here
- Sales volumes were 4,355 UP 6.1%
from the same month last year
- The Bank of Canada Prime Lending Rate
recently dropped to 2.75% read
The statistics for last month are out, the figures for previous month are out and average GTA sale price and volumes continue to be at or near all time highs, see this page for latest market stats and results from the previous month month
Mortgage Interest Rates are on the rise, read more
Once again, last month was another very strong
month for sales and prices in the GTA.
TREB reports that the volume of sales was down but prices are up year over year.
|2015 Average Monthly Price
|2014 Average Monthly Price|
|2013 Average Monthly Price|
selling price for 2014 was
$566,726 and for 2013 was $523,036,
which represented an increase of 8.4%
compared to 2013 and a 5.2 per cent compared
to the calendar year 2012 average of $497,130
graph of prices here|
|2012 Average Monthly Price|
See seasonal fluctuations in average prices
As can be seen from the chart above, prices are still strong. Number of sales are down, but this could be due to reduced inventory.
See the full report from TREB below.
- There continues to be "pent up" demand and with such low inventories, anything that comes on the market that shows well and is priced well get's sold very quick.
- We expect the spring to continue have tight supply and prices should be up or about stable until end of the next quarter, stay tuned for all the results right here!
I hope this finds you healthy and happy!
All the best,
You are reading the latest newsletter
February News Report
Last months Resale Housing Results Show Healthy Market!
This is the latest monthly report for TREB for the average prices and the number of sales in previous month, both were very strong last month.
Strong Start to 2015
February 4, 2015 – Toronto Real Estate Board President Paul
Etherington announced a strong start to 2015, with robust year-over-year
sales and average price growth in January. Greater Toronto Area REALTORS® reported
4,355 home sales through the TorontoMLS system during the first month of
This result represented a 6.1 per cent increase over January 2014. During
the same period, new listings were up by 9.5 per cent.
"The January results represented good news on multiple fronts. First,
strong sales growth suggests home buyers continue to see housing as a quality
long-term investment, despite the recent period of economic uncertainty.
Second, the fact that new listings grew at a faster pace than sales suggests
that it has become easier for some people to find a home that meets their
needs," said Mr. Etherington.
The average selling price for January 2015 home sales was up by 4.9 per
cent year-overyear to $552,575. The MLS® Home Price Index (HPI) Composite
benchmark was up by 7.5 percent compared to January 2014.
"Home price growth is forecast to continue in 2015. Lower borrowing
costs will largely mitigate price growth this year, which means affordability
will remain in check.
The strongest rates of price growth will be experienced for low-rise home
types, including singles, semis and town houses. However, robust end-user
demand for condo apartments will result in above-inflation price growth in
the high-rise segment as well," said Jason Mercer, TREB's Director of
Where are mortgage rates heading?
The Bank of Canada Prime Lending Rate recently dropped to 2.75% read
A common question I frequently get is "where are mortgage rates heading?" While all we can do is speculate and anything can happen, we can always make predictions based on what tools we have available to us today.
For shorter term predictions, we can follow the bond yield charts, which you
can find here: http://www.investing.com/rates-bonds/canada-5-year-bond-yield Fixed
mortgage rates are determined by bond yields. When the yields rise,
upward pressure is placed on fixed mortgage rates. When they drop,
downward pressure is placed. Last spring, we saw a large spike
in bond yields within a very short time span which sent fixed mortgage rates
skyrocketing as much as 0.75% within a matter of a few short weeks...which
is not something that anyone could have predicted. They didn't start
settling down until earlier this year and have been slowly trending downwards
ever since. If the downward trend continues, we may very well
see some lower rates soon, and I think this is a definitely possibility.
The Bank of Canada Prime Lending Rate
recently dropped to 2.75% read
Read more reports on the Greater Toronto Resale Housing Market
Read the entire report at this page
Variable rates are now about Prime or just a little less at Prime MINUS about .1% to .2% or so, read more
Mortgage interest rates have dropped slightly over the past month or so, due to the bank rate increase. Bank of Canada is predicting rates will not increase again for some time, maybe mid 2013, read more
Any way you look at it, interest rates are at or near all time lows with bank prime at 3.00% , read more.
Our market continues to perform very well, prices are up and sales volumes are good. There are a good number of homes currently for sale in Mississauga, we need good homes to sell!
It will be interesting to see what the next few months bring as there seems to be a large amount of demand for properties in Mississauga and the GTA.
I predict that it will be a very strong market with more properties coming on the market in the next month or two giving a slightly larger selection to buyers.
Average prices will likely increase 2-5% over the next 2 months. Volume of sales will also increase every month in the next quarter, if you are thinking of buying now is the time to do it!.
Given our very fine weather this winter that is expected to continue for the next while, my observations for the Mississauga marketplace is that we continue to see that prices continue to be strong and increase quite substantially in many areas over the next few months.
Listing inventories are low, so if you are thinking of selling, this is a good time to list your home. The market has been 'very good' for the past month or so and new listings are need. Would you like a Complimentary & Quick Over-The-Net Home Evaluation of your property?
Price trends over the past 18 years indicate that prices will likely increase over the next month or so.
It appears as if rates may hold steady for the short term. Many feel The Bank of Canada may hold the course in the near future on their current level of 3.00% prime, (Current Bank prime is shown here), so this should keep mortgage interest rates at their current levels.
Average single family residential prices were UP compared to the previous month. This is typical for this time of year. Price trends over the past 18 years indicate that prices will likely increase over the next month or so.
Last month was another very solid month to add to another banner year in real estate in the GTA. See graphs of the sales figures, read more
See my MLS listings on Google Maps here
I regularly add new articles to my blog
I hope this finds you and yours happy and healthy!
I wish you and your family all the best!
If you would like more information or have any questions or suggestions, please email me at firstname.lastname@example.orgI wish you and your family All the Best!
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