Mortgage interest rates have fallen again due to the Bank of Canada lowering the rate to another record low of .25%, read more.
Our market continues to hold steady, prices are up month over month. The average price last month was higher than the previous month and the average days to sell a home is steady. This is all good news.
My observations for the Mississauga marketplace
is that we continue to see that prices are firming up, meaning that they
are holding steady and even rising in some areas. Moderately of course, but still, they are rising.
It will be interesting
to see what the next quarter brings as the summer is typically a slow period in our market.
are reading the May newsletter
April Resale Housing Results are Positive again!
on interest rates, Bank
Prime rates dropped again and are at record levels
of 2.5%, read more, Bank
April Resale Housing Results Bring Positive News
TORONTO, May 6, 2009 - In April 2009, Greater Toronto REALTORS® reported 8,107 sales – down seven per cent from April 2008. While April sales remained lower than last year, the resale housing market gained momentum on a month-over-month basis.
The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two thirds compared to January’s ten-year low
“Conditions in the resale housing market have improved markedly this spring,” according to TREB President Maureen O’Neill. “Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices.”
The average price for April transactions was $385,641 – down three per cent from last year.
“The rate of average price decline continued to diminish last month. This is due in large part to a tightening in the resale market,” stated Jason Mercer, TREB’s Senior Manager of Market Analysis. “The level of sales relative to new listings increased in April.”
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See them all Here
Eglinton and Highway 10, beautiful stacked condo, $179,900
Outstanding panoramic views of Lake Ontario, $199,900
Churchill Meadows, Beautiful Townhomes, $304,900 sold!
Churchill Meadows, Outstanding Semi Detached Home, Great Price, $319,900
Eglinton and Winston Churchill Townhouse $219,900
MUST be sold!
Townhouse for sale at Dundas and Hurontario for $279,900 sold!
As of May 12, I am carrying
6 listings and all the details and photos for
them are located on my site at this listings
I have 1 rental property that
are located at this page
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
Sorry Sawmill Valley Beauty $599,900
|| Royal Bank Posted Rates
|5 Yr Closed Variable
||Bank Prime + .8%
|Bank Prime 2.25%
NOTE: You can often negotiate a discount of 0.5 - .8% or more off posted rates.
"Best" Mortgage Rates
BANK PRIME RATE
September 13, 2015
the Bank Prime Rate was
The Bank of Canada
prime rate as of May 12th, 2009 was 0.25%
Bank Prime Rate means "best" and this is the rate that banks charge their absolute best customers for loans.
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 plus .75% 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 Read more about Sub-Prime Mortgages
For example, see the
Royal Bank Prime Rates
Bank of Canada Prime rates found here