Real Estate February 2007
From the desk of: A. Mark Argentino Latest
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The numbers for 2006 show that the GTA real estate market was very healthy. Average prices rose 5%, read more
I still have a few 2007 calendars left. If you would like to receive one of my calendars, please fill in your information at this form and I would be happy to send you a calendar! The calendar has many money saving coupons for attractions around the GTA.
New Feature: You may find Sold Stats for W16, W19 and W20 at this link. If you want the stats for your area, just email me and I will send them to you.
December real estate sales figures are now out. Last month statistics are now in the books and the bottom line is our 2006 Ends on a High Note.
Inventories are low, if you are thinking of selling, this is a good time to list, read more here.
Average single family residential prices were down compared to the previous month. This is typical for this time of year. Price trends over the past 10 years indicate that prices will likely increase 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 Lower rates ahead? from the Toronto Star
December 2006 was another very solid month to end the year. See graphs of 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 January 10 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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