Real Estate December 2006
From the desk of: A. Mark Argentino Latest
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November real estate sales figures are now out. Last month statistics are now in the books and the bottom line is our Housing market stability continues.
Average single family residential prices were down slightly compared to the previous month. This is typical for this time of year. Price trends over the past years indicate that prices will likely fall over the next month or so.
Many feel The Bank of Canada may be lowering rates in the near future from their current level of 4.5% prime, so this should keep mortgage interest rates at their current levels. Read Toronto Star Article
November 2006 was another very solid month. Volume of sales were up compared to the previous month. Average prices were down less than 1% compared to the previous month. See the sales figures, read more
My blog is moving along. I enjoy posting to it and keeping you current on the real estate market. I will update the blog throughout each month to keep you current with the real estate market. This newsletter will continue to be published monthly. Read my Mississauga Real Estate Blog
NOTE: You can often
negotiate a discount of 1% or more off posted rates. "Best" Mortgage Rates
As of November 8th the Bank Prime Rate was
6.00%
Prime means "best," and this is the rate that banks charge their absolute best customers for loans. Changes in the prime rate influence changes in other rates, including variable interest rate mortgages. This rate fluctuates based on economic conditions. Some mortgage companies offer interest rates starting at Prime less .75%!
P.Eng. Broker (since 1987)
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