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of GTA price trends.
In this Issue
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
Backing Credit River, outstanding home and property with inground
salt water pool
-near Bancroft and Creditview, Heartland Area
Outstanding 4 bedroom vacant home for $493,900
Beautiful townhome in Erin Mills near Streetsville GO Station $1700/month
Absolute Townhome for rent, Burnhamthorpe and Hurontario $2100/month
Walk to Erin Mills Town Centre, 2 bedroom basement apartment $1000!
Outstanding Daniel's Built Home in Central Erin Mills $674,900 SOLD
Beautiful 2 bedroom plus solarium condo at Square One $179,900 sold
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 + 0.20% "special"
|5 Yr Open Variable
||Bank Prime + 1.0%
|Bank Prime 3.00%
NOTE: You can often negotiate a discount of 0.3 - .5%
or more off posted rates.
BANK PRIME RATE
January 26, 2013
the Bank Prime Rate
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 2% higher
than this, so Bank Prime charged to the public is now 3%
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
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
Benefits of this timely newsletter:
Greetings from Fabulous Mississauga!
- Average price for last month was $478,739 (it was
$485,328 the previous month and $503,479 in October) and
this represents almost a 6.5 increase compared to the same month in 2011 - see
graph of prices here
- Prices were
down and sales volumes were 3690 units, down from 4585 in December
- The Bank of Canada Prime Lending
Rate is 3.00% read more
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
November 2012 was another very strong
month for sales and prices in the GTA.
TREB reports that the sales volume of homes is down but prices are
up year over year. In fact prices are down from the previous
month about 4% and this is a trend we have seen recently.
It could be the time of year or a trend, nobody can know for sure. We
will need to wait a few more months to determine if it's a longer term
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 fall to continue have tight supply
and prices should be up or about stable until end of November, stay
tuned for all the results right here!
I hope this finds you healthy and happy!
All the best,
You are reading the
January 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.
GTA REALTORS®GTA REALTORS® TORONTO, January 4, 2013
Average Home Price Up Strongly in 2012
Greater Toronto Area REALTORS® reported 3,690 sales through
the TorontoMLS system in December 2012 – down from 4,585 sales
in December 2011. Total sales for 2012 amounted to 85,731 – down
from 89,096 transactions in 2011.
“The number of transactions in 2012 was quite strong from
a historic perspective. We saw strong year-over-year growth in sales
in the first half of the year, but this growth was more than offset
by sales declines in the second half.
Stricter mortgage lending guidelines resulted in some households
postponing their purchase of a home. In the City of Toronto, the
dip in sales was compounded by the additional Land Transfer Tax,
which buyers must pay upfront,” said Toronto Real Estate Board
(TREB) President Ann Hannah.
The average selling price in December 2012 was up by 6.5 per cent
year-overyearto $478,739. The average selling price for 2012 as a
whole was up by almost seven per cent to $497,298.
“Robust annual rates of price growth were reported through
most months of 2012.
Price growth was strongest for low-rise homes, including singles,
semis and townhouses. Despite a dip in sales, market conditions remained
tight for these home types with substantial competition between buyers,” said
TREB’s Senior Manager of Market Analysis Jason Mercer.
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
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
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
If you would like more
information or have any questions or suggestions, please
email me at email@example.com
I wish you and your family All the Best!
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