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
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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
Outstanding Condo for rent on Webb Drive , in Downtown Mississauga for $259,900
Outstanding Semi Detached Semi Detached Home located just west of Terry Fox Way,
and on the north side of Bristol, north of Eglinton but south of Britannia,
in Heartland District! $1800/month
1 Bedroom RENTAL UNIT on Bay Street in Toronto! - $1600 per month - available
for rent March 1st 2014! $1650/month
See all my current listings for sale and for rent
2 bedroom Square One Condo $1550/month
Ovation II at Square One - 2 bedroom+Den, 2 Bathrooms! for $339,900! now
sold!
Absolute Townhome for rent, Burnhamthorpe and Hurontario $2000/month - others available
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 |
3.140% |
1 Year |
3.14% |
2 Year |
3.04% |
3 Year |
3.75% |
4 Year |
4.64% |
5 Year |
5.24% |
7 Year |
5.95% |
10 Year |
6.75% |
25 Year |
8.75% |
5 Yr Closed Variable |
Bank Prime + 0.000% |
5 Yr Open Variable |
Bank Prime + 1.000% |
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
March 19, 2015 the Bank Prime Rate was
3.00% 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 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: | WHAT'S HAPPENING
In this Issue |
March 2014 News Greetings from Fabulous Mississauga! - The
Average price for last month was $526,528 (it
was $520,398 the
previous month) and
this represents aver a 9% increase compared to
the same month last year
- The average selling price for 2013 as a whole was $523,036, which
represented an increase of 5.2 per cent compared to the calendar year
2012 average of $497,1302013 - see
graph of prices here
- Sales volumes were 4,135, down 2.2% from the
same month in 2013
- The Bank of Canada Prime Lending Rate continues to be set at 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
Once again, last month was another very strong month for sales
and prices in the GTA. TREB reports that the volume of sales was down but prices are up year over year.
2014 Average Monthly Price |
January |
526,528 |
|
2013 Average Monthly Price |
December |
523,096 |
November |
538,881 |
October |
539,415 |
September |
533,232 |
August |
501,794 |
July |
513,246 |
June |
530,636 | May | 542,174 | April | 526,335 | March | 519,879 | February | 510,580 | January | 482,648 | |
| | | 2012 Average Monthly Price | | | December | 478,739 | November | 485,544 | October | 502,274 | September | 501,704 | August | 477,533 | See seasonal fluctuations in average prices As can be seen from the chart above, prices are still strong. Number of sales are down, but this could be due to reduced inventory. 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 spring to continue have tight supply and prices should be up or about stable until end of the next quarter, stay tuned for all the results right here!
I hope this finds you healthy and happy! All the best, Mark You are reading the latest newsletter
March 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.
Home ownership in the Greater Toronto Area remains affordable and there
are many people looking to purchase a home.
TORONTO, February 5, 2014 –
In January, the number of homes listed for sale was down quite strongly
compared to last year, which means that it was difficult for some buyers
to find a home.
Greater Toronto Area REALTORS® reported 4,135 sales through the TorontoMLS
system in January 2014. This result was down by 2.2 per cent in comparison
to January 2013. New listings entered into the system were down over the
same period by 16.6 per cent to 8,822.
“Looking forward, it is possible that strong price growth, and therefore
an increase in home equity, will act as a trigger for more households to
list their homes for sale. This is especially the case for households whose
life styles are changing, including those with an expanding family looking
for a larger home or empty nesters looking to downsize,” said Dianne
Usher, President, Toronto Real Estate Board.
The average selling price for January 2014 sales was $526,528 – up
by more than nine per cent compared to $482,080 in January 2013.
“The pace of price growth will remain strong in 2014. Similar to last
year, competition between buyers for singles, semis and town homes in the
City of Toronto and surrounding regions will continue to exert upward pressure
on selling prices. At the same time, mortgage rates will remain near historic
lows, so despite strong price growth, home ownership will remain affordable
for the average household in the GTA,” said Jason Mercer, TREB’s
Senior Manager of Market Analysis.
Greater Toronto REALTORS® are passionate about their work. They are
governed by a strict Code of Ethics and share a state-of-the-art Multiple
Listing Service. Over 36,000 TREB Members serve consumers in the Greater
Toronto Area. The Toronto Real Estate Board is Canada’s largest real
estate board.
| 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 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 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 few months.
| | | | | | 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!
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