SUBSCRIBE TO NEWSLETTER
|
Subscribe to Mark's valuable RE/MAX
Real Estate newsletter You will receive
useful Real Estate information for Mississauga
and surrounding areas. Plus you will learn
many tips and secrets when selling or buying your
home, I will show you where to find the 'best'
mortgage interest rates as well as provide you
with timely information and a comprehensive overview
of GTA price trends.
Privacy Policy
Recommend-a-Friend
|
|
WHAT'S HAPPENING
In this Issue |
FEATURE HOMES
Great Value
See them all Here
Feature Homes
Excellent Homes
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
FEATURE HOMES
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
Heartland Centre 3 bedroom plus finished basement -near Mavis and
Matheson, Heartland Area for $469,900
Beautiful Brand New Condo - never lived in - Northshore Building
Fram Built Executive Condo $649,900
Great Home, John Fraser School District, Erin Mills Town Centre Area $569,900
Etobiocke 2 bedroom rental $950/month
Beautiful 3 bedroom End Unit Freehold Townhouse in Churchill Meadows $1825/month
10 Acres and large home in Oakville - development opportunity! $6.0
million
Detached 4+3 bedroom home plus 3 kitchens! 50 x 134ft lot!! $358,000
Outstanding Daniel's Built Home in Central Erin Mills $674,900 SOLD
Eglinton and Hurontario, outstanding semi $439,900 sold and closed
Beautiful 2 bedroom plus solarium condo at Square One $179,900 sold
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,
sorry
TODAY'S MORTGAGE INTEREST
RATES
Term |
Royal Bank Posted Rates |
6 Month |
4.45% |
1 Year |
3.20% |
2 Year |
3.55% |
3 Year |
3.95% |
4 Year |
4.64% |
5 Year |
5.44% |
7 Year |
6.35% |
10 Year |
6.75% |
25 Year |
8.75% |
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.
"Best" Mortgage
Rates
BANK PRIME RATE
As of
June 8, 2012
the Bank Prime Rate
was
3.00%
On December 7th, 2009 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, 2010 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
conditions.
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
Mortgages
For example, see the
Royal Bank Prime Rates
Bank of Canada Prime rates found here
Benefits of this timely newsletter:
|
June News!
Greetings from Fabulous Mississauga!
- Average price for last month was $516,787 and
this represents almost a 6.5%
increase compared to May 2011 - see
graph of prices here
- Prices were
up and sales were up for last month in the GTA Resale Housing
Market
- 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
May 2012 was another very strong month for sales
and prices in the GTA.
- New listings were up substantially on a year-over-year basis in
May – rising by more than 20 per cent to 19,177. The average
price for May 2012 sales was $516,787, representing an annual increase
of 6.5 per cent compared to $485,362 in May 2011
- Average prices are up considerably when you compare year over year. Prices
year over year are up nearly 6.5%
- Historically, May is one of the busier months and this May
2012 was no exception with such tight supply
- 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 entire spring market to have tight supply and prices
should increase 2-5 percent between now and end of August, stay tuned
for all the results right here!
I hope this finds you healthy and happy!
All the best,
Mark
Variable rates are now about Prime or just a little less at Prime
MINUS about .1% to .2% or so, read
more
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
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 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 spring market of 2012 brings
as the spring market is here and 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 balance of the winter, 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 few months.
You are reading the
latest newsletter
June 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® Report Monthly Resale Housing Market Figures
GTA REALTORS® Report Monthly Resale Housing Market Figures
Toronto, June 5, 2012 – Greater Toronto REALTORS® reported
10,850 transactions through the TorontoMLS System in May 2012 – an
11 per cent increase over the 9,766 sales in May 2011. Sales growth
was strongest in the ‘905’ regions surrounding the City
of Toronto.
“Sales growth in the ‘905’ area code was stronger
than growth in the City of Toronto across all major home types. While
lower average prices are certainly one factor that has contributed
to this trend, recent polling also suggests that the City of Toronto’s
land transfer tax has also prompted many households to look outside
of the City for their ownership housing needs,” said Toronto
Real Estate Board (TREB) President Richard Silver.
New listings were up substantially on a year-over-year basis in
May – rising by more than 20 per cent to 19,177. The average
price for May 2012 sales was $516,787, representing an annual increase
of 6.5 per cent compared to $485,362 in May 2011.
Price growth continued to be driven by the low-rise market segment.
“Strong competition between buyers seeking to purchase low-rise
home types drove strong price growth in May.
However, if new listings
continue to grow at the pace they did in May for the remainder of
2012, the annual rate of price growth should begin to moderate on
a sustained basis,” said Jason Mercer,
TREB’s Senior Manager of Market Analysis.
|
Read more reports on the Greater Toronto Resale Housing Market
|
|
|
|
|
|
If you would like more
information or have any questions or suggestions, please
email me at info@mississauga4sale.com
I wish you and your family All the Best!
This
Month's Stats
|
|
News and Real Estate
Links and Other Goodies ...
|
|
|
"
As a professional real estate agent, my
job is to give you all the information so you can
make the best decision for yourself and your family
©" - and that is what this newsletter
is all about - supplying you with timely and valuable
information.
Your email address will never be shared with anyone.
Real
Estate Home
|
How
will this newsletter benefit you?
You will receive timely updates and valuable information
regarding the Mississauga, Toronto and GTA Real Estate market.
Thanks for reading!
Real Estate Home |
|