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
Excellent 2 bedroom Plus Den plus Balcony, 2 bathroom Condo just west of Square
One at 3888 Duke of York Blvd. - $379,900
Great detach home in Meadowvale with double garage -
$489,900
Outstanding detached home backing Ravine - Milton - $784,900 SOLD!
1 Bedroom RENTAL UNIT at 4975 Southampton Drive in Churchill Meadows - Erin
Mills for $1125 per month - many more rentals!
Outstanding nearly New high rise condo located adjacent to Square One Shopping
Centre in 4080 Living Arts Blvd, downtown Mississauga - (follow the link
below to see pictures and more details for this property) within minutes
of schools, parks shopping, shopping centre, transportation and community
center $1700/month
1 Bedroom RENTAL UNIT on Bay Street in Toronto! - vacant -$1500 per month -
now rented!
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
May 20, 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 |
October 2014 News
Greetings from Fabulous Mississauga! - The
Average price for last month was $573,676
(it was $546,303 the
previous month) and
this represents aver a 7.7% increase compared to
the same month last year- see
graph of prices here
- Sales volumes were 8,051 UP 11% from the
same month last year
- 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 |
September |
573,676 |
August |
546,303 |
July |
550,700 |
June |
568,953 |
May |
585,204 |
April |
577,898 |
March |
557,684 |
February |
553,193 |
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 | 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 $497,130
- see
graph of prices here |
| 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
October 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.
Sales and Average Price Growth Continued in September
TORONTO, October 3, 2014 – Toronto Real Estate Board President Paul
Etherington announced that there were 8,051 transactions reported through
the TorontoMLS system in September 2014. This result represented a 10.9 per
cent increase compared to September 2013. On a year-to-date basis through
the first three quarters of the year, sales were up by 6.9 per cent annually
to 73,465.
"Despite a persistent shortage of listings in some market segments,
we have experienced strong growth in sales though the first nine months of
2014. This is evidence that GTA households remain upbeat about purchasing
a home. The majority of home buyers purchase a home using a mortgage. The
share of the average household's income dedicated to their mortgage payment
remains affordable, which is why buyer interest has remained solid," said
Mr. Etherington.
The average selling price for September 2014 transactions was $573,676 – up
by 7.7 per cent compared to the same period in 2013. Average year-over-year
price growth was strongest in the City of Toronto, both for low-rise home
types like detached and semidetached houses and for condominium apartments.
The average selling price year-todate was $563,813 – up 8.5 per cent
compared to the first nine months of 2013.
"If the current pace of sales growth remains in place, we could be
flirting with a new record for residential sales reported by TREB Members
this year. On the pricing front, the multitude of willing buyers in the marketplace
coupled with the short supply of listings will continue to translate into
very strong annual rates of price growth in the fourth quarter," said
Jason Mercer, TREB's Director of Market Analysis.
Where are mortgage rates heading?
A
common question I frequently get is "where are mortgage rates heading?" While
all we can do is speculate and anything can happen, we can always make
predictions based on what tools we have available to us today.
For shorter term predictions, we can follow the bond yield charts, which you
can find here: http://www.investing.com/rates-bonds/canada-5-year-bond-yield Fixed
mortgage rates are determined by bond yields. When the yields rise, upward
pressure is placed on fixed mortgage rates. When they drop, downward pressure
is placed. Last spring, we saw a large spike in bond yields within
a very short time span which sent fixed mortgage rates skyrocketing as much as
0.75% within a matter of a few short weeks...which is not something that anyone
could have predicted. They didn't start settling down until earlier this
year and have been slowly trending downwards ever since. If the downward
trend continues, we may very well see some lower rates soon, and I think this
is a definitely possibility.
For mortgage rate predictions a little further out, we need to look at economic
factors. One thing we know is the global economy is still in recovery mode
and most likely will be for the next several years. As long as this is
the case, fixed mortgage rates will continue to remain low.
The same applies to variable rate mortgages. While fixed mortgage rates
are dependent on bond yields, variable rate mortgages follow the prime rate set
by the Bank of Canada, which is determined by economic influences. Experts
are now predicting that the prime rate could remain unchanged for the next few
years. As it is, the prime rate has remained at 3% since September 2010
and is by far the longest streak where it has remained unchanged in history.
| 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.
| | | | Listing inventories are low, so if you are thinking of selling, this is a good time to list your home. The market has been 'very good' for the past month or so and new listings are need. Would you like a Complimentary & Quick Over-The-Net Home Evaluation of your property?
Price
trends over the past 18 years indicate that prices will likely increase
over the next month or so.
It appears as if rates may hold steady for the short term. Many feel
The Bank of Canada may hold the course in the near future on their current
level of 3.00% prime, (Current Bank prime is shown here),
so this should keep mortgage
interest rates at their current levels. Average single family residential prices were UP compared to the previous month. This is typical for this time of year. Price trends over the past 18 years indicate that prices will likely increase over the next month or so. Last month was another very solid month to add to another banner year in real estate in the GTA. See graphs of the sales figures, read more See my MLS listings on Google Maps here I regularly add new articles to my blog I hope this finds you and yours happy and healthy! I wish you and your family all the best! Mark | | 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
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| | " 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.
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