was another good month for sales and prices in the GTA.
Although last month sales were down about 13% for last month, comparing
year over year, the volume of sales year to date continue to be strong.
Average prices are up considerably when you compare year over year. Nearly
Historically, February is one of the slower months, but this month seems to
be starting with a large amount of sales. 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.
I hope this finds you healthy and happy!
All the best,
Variable rates are now about Prime or just a little less at Prime MINUS about .2% to .5% or so, read more
Mortgage interest rates have risen slightly over the past month or so, due to the bank rate increase. Bank of Canada is predicting rates will increase again in mid year, 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 do 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 first quarter of 2011 brings as the winter market is typically the slowest period of the year.
I predict that it will be a good market with more properties coming
on the market in February giving larger selection to buyers. Average
prices will likely increase every month for the next 3 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!.
My observations for the Mississauga marketplace is that we continue to see that prices continue to be strong and increase slightly in many areas over the next few months.
You are reading the latest newsletter
February News Report
Last months Resale Housing Results Show Balanced 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.
This is the latest press release from TREB regarding the october real estate market in the GTA
GTA REALTORS® Report Monthly Resale Housing Market Figures TORONTO, February 4, 2011
Greater Toronto REALTORS® reported 4,337 transactions through the TorontoMLS® system in January 2011.
This result was 13 per cent lower than the record result reported in January 2010.
“While off the record pace experienced a year ago, the GTA resale market has started the year on a solid footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points,” said TREB President Bill Johnston.
The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported in January 2010.
“The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to five per cent range will be sustainable from an affordability perspective,” said Jason Mercer, TREB’s Senior Manager of Market Analysis
In January, the median price was $360,000, from the $350,000 recorded during January of 2010.
If you would like more
information or have any questions or suggestions, please
email me at email@example.com
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
6 Plex Investment Property - Central West Toronto $899,900
Erin Mills Parkway and Credit Valley Road, across from Credit Valley Hospital, $1600 per month
10 Acres and large home in Oakville - development opportunity! $4.5million
Detached home with inground Pool located near Eglinton and Creditview $469,900now
3+1 Bedroom semi at Winston Churchill and QEW close to Clarkson GO train - finished
basement! $349,900now sold
Eglinton and Hurontario, outstanding semi $439,900 sold and closed
Beautiful 2 bedroom plus solarium condo at Square One $179,900 sold
Glen Erin and Erin Centre Blvd. $1399 per month now rented
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,
TODAY'S MORTGAGE INTEREST
|| Royal Bank Posted Rates
|5 Yr Closed Variable
||Bank Prime - .15% "special"
|5 Yr Open Variable
||Bank Prime + .7%
|Bank Prime 3.00%
NOTE: You can often negotiate a discount of 0.3 - .5%
or more off posted rates.
BANK PRIME RATE
July 21, 2015
the Bank Prime Rate
On December 7th 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%. Bank prime rate is 2%
higher than this, so Bank Prime is now 3%
On July 20th the Bank of Canada increased
their prime rate another .25% to 0.75% The last increase was June 1st 2010
and it was increased by .25% to 0.50%
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 2.75%
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
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
For example, see the
Royal Bank Prime Rates
Bank of Canada Prime rates found here