Tuesday, August 19, 2008

0% down, 40 Year amortization still available

You may read that 40 year amortizations are hard to find, but 0% down, 40 Year amortization still available

While some homebuyers may be procrastinating on their purchases, it is important to let them know that they are still able to buy with no money down and amortize their mortgages up to 40 years.  
 
As these products will only be offered for the next two months (until October 15th). 

Combine that with falling interest rates.   The 5 year fixed has just come down to 5.24% and the variable is at 4.10% (or .65 below prime).   

Please let me know if you have any questions,
Mark

Sunday, August 17, 2008

RBC comments on Inflation concerns rising, while downside risks to growth persist

Inflation concerns rising, while downside risks to growth persist

The Fed and the Bank of Canada have become more vocal about worrying signs of a pick-up in inflation, pointing to the persistent rise

in energy prices. However, worries about the U.S. economy also linger, with the housing recession in full swing, consumer confidence

deteriorating and the unemployment rate at its highest level in 3-1/2 years. In Canada, second-quarter data are suggesting that the

contraction in first-quarter real GDP was an one-off event, although the weak state of the U.S economy is keeping the downside risks

to the export outlook intact. Our view is that the strong headwinds facing the economy will be enough to keep both the Fed and the

Bank of Canada on the sidelines this year, especially if energy prices start to decline as we expect and take some of the heat off the

headline inflation rate.

Read more about:Homes for Sale

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987

( BUS 905-828-3434
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Friday, August 15, 2008

Toronto mortgage interest rate decrease

Just in time for the tail end of the summer market & for those planning to buy in the fall, several prime lenders have reduced their fixed rate mortgages.

As an example, some aggressive pricing from one lender: a 5 yr rate of 5.04% (mortgage amounts > $500,000) and they offer excellent prepayment options.

Many lenders are reviewing their lending criteria & product offerings....it's always in the client's best interest to arrange for a preapproval.

Enjoy the weekend - the weather looks promising!

Mark

RBC comments on Bank of Canada on hold until early 2009

Bank of Canada on hold until early 2009

The Bank of Canada left the policy rate at 3% in early June and again in July and focussed its attention on the upside risks to the

inflation outlook.

With energy prices staying high, the headline inflation rate is likely to rise to the top of the Bank of Canada's target band.

The economy is set to rebound in the second quarter after the modest contraction in real GDP in the first quarter but will still post

only moderate growth this year, thus increasing the amount of spare capacity in the economy and alleviating some of the upward

pressure on prices.

The next move by the Bank of Canada is likely to be a rate hike in early 2009 as the economy's growth momentum builds going

into 2009.

Read more about:Homes for Sale

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987

( BUS 905-828-3434
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Thursday, August 14, 2008

Mississauga Current Mortgage Interest Rates

These are the Mississauga Current Mortgage Interest Rates
• Our Best Rates
• Explore Mortgage Scenarios with helpful Calculators on www.mississauga4sale.com
TermsPosted RatesOur Rates
1 YEAR6.95%5.05%
2 YEARS7.00%5.25%
3 YEARS7.00%5.25%
4 YEARS6.99%5.50%
5 YEARS7.15%5.24%
7 YEARS7.60%5.80%
10 YEARS7.95%5.90%
Rates are subject to change without notice. *OAC E&OE
Prime Rate is 4.75%.

Variable rate mortgages from as low as Prime minus 0.60%.

Rates are subject to change without notice. Fixed mortgage rates shown in table above and quoted variable mortgage rates are available nationally to qualified individuals. Some conditions may apply. Lower rates may be available in certain regions, or to those with higher credit scores or higher net worth – check with your current mortgage lender or email me for full details.

Read more about:Homes for Sale

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987

( BUS 905-828-3434
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Wednesday, August 13, 2008

RBC reports that Fears of U.S. recession fading; Canada’s terms of trade boost continues

Fears of U.S. recession fading; Canada's terms of trade boost continues

The economy continued to expand in the first quarter, but posted the weakest six-month growth rate since 2003. The economy is

expected to remain weak, but market forecasters see reduced odds of a recession despite higher-than-expected energy prices.

Risks of a second-quarter contraction are lessening as the early wave of fiscal stimulus cheques may give consumer spending a

boost and keep the economic growth numbers positive.

The elevated inflation rate as a result of high energy and food prices threatens to boost inflation expectations.

Oil prices are expected to trend lower through the forecast period.

The Fed is likely the hold the policy rate steady for the remainder of this year.

Canada's economy contracted in first quarter as special factors and inventories dragged the growth rate down, but domestic demand

is holding up and will more than offset the significant drag from net exports this year.

Import growth will remain robust, but flagging U.S. demand will weigh on export volumes.

High commodity prices and the attendant rise in terms of trade will support real income growth and jobs.

Consumer spending has slowed from its robust 2007 fourth-quarter pace but will still remain a key support for the economy in

2008.

Business investment will continue to be a strong support to the economy as the high Canadian dollar lowers prices of imported

machinery and equipment, and high commodity prices will warrant an increase in capacity.

Canada's housing market is losing steam but is not headed for U.S.-style crash.

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

(
BUS 905-828-3434
2
FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : Mississauga4Sale.com

Monday, August 11, 2008

RBC reports on Ontario — A two-tiered economy

Ontario — A two-tiered economy

The first-quarter national accounts for Canada provided quite possibly the first
"hard" evidence that a downbeat scenario is, indeed, unfolding in Ontario. The
unexpected decline in Canadian real GDP most likely captured a sizeable economic
contraction in Ontario with the international trade sector delivering much
of the bad news.


Early this year, Ontario's exports were pounded by the high
Canadian dollar and the downturn in the U.S. economy, as well as by a strike at
a major U.S. motor vehicle parts manufacturer that disrupted Ontario's auto
production. Poor weather conditions also caused some disruptions.
Going forward, the spotlight will remain on the external sector. With the high
dollar and sluggish U.S. economy still hindering manufacturing sales abroad,
net trade should continue to subtract from growth in the near-term, although the
impact is likely to taper off gradually as some of the factors that restrained firstquarter
growth prove to be temporary.


Little improvement is expected in the allimportant
auto sector – plummeting motor vehicle sales (particularly of light
trucks) in the United States and ongoing restructuring in the "Big 3" North
American producers imply continued hard times. Excluding this sector, however,
Ontario exporters should feel some relief later this year and in 2009 from a
projected easing in the Canadian dollar and reacceleration of growth in the U.S.
economy.


As tough as conditions are on the external side, the story on the domestic
economy is more encouraging. Construction is holding up better than expected
and growth in consumer spending continues to be supported by a still-robust
labour market.


Despite the carnage in manufacturing jobs, total employment in
the province is still growing at a decent clip, enough to keep the unemployment
rate near a seven-year low. While the risk of the external weakness spilling over
into the domestic side is not trivial, the domestic underpinnings remain relatively
solid and should allow the overall economy to navigate through the headwinds,
keeping growth in positive territory.


Nonetheless, at 0.7% this year, our
forecasted growth rate would be the weakest since the last recession in the early
1990s.

Read more about:Homes for Sale

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987

( BUS 905-828-3434
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Saturday, August 09, 2008

RBC reports that the US is Not out of the woods yet!

Not out of the woods yet!

Most news about the U.S. economy has tended to be on the strong side of
expectations, but one key item suggests that the economy is not out of the
woods yet. The April survey of senior loan officers at 56 domestic banks and 21
U.S. branches of foreign banks showed that lending standards continued to
tighten early in the second quarter. Fifty-five percent of respondents at domestic
banks indicated that their institutions had tightened lending standards for
commercial and industrial loans, up from 30% in January. This, historically, has
presaged a significant slowing in industrial production, spending on machinery
and equipment, and cuts to payrolls.

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

(
BUS 905-828-3434
2
FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : Mississauga4Sale.com

Thursday, August 07, 2008

RBC comments on US Housing market — No relief

Housing market — No relief

The U.S. housing market recession continues in full swing, with home sales
running at least 20% slower than a year earlier, prices posting significant yearover-
year declines and the stock of homes for sale holding well above historical
norms. Residential investment fell at a 24.6% annual rate in the first quarter after
plummeting 25.2% in the fourth quarter of 2007 and subtracted a sizeable 1.1 percentage points from economic growth in the first quarter of 2008.


Foreclosures
were up in April and delinquencies are continuing to rise. Our forecast
assumes that the recession in this sector will continue through 2008. In 2009, the
combination of lower interest rates and lower house prices is expected to reduce
the inventory of homes for sale to more normal levels, which should put a floor
beneath new home construction after three years of significant declines.


Mark

Tuesday, August 05, 2008

RBC comments on Canadian Housing market losing its edge but not headed for a crash

Housing market losing its edge but not headed for a crash

Canada's resale housing market showed signs of slowing early in the second
quarter with sales off 1% from the first quarter of 2008 following three consecutive
quarterly declines. However, sales continue to run well above the average
pace of the past 20 years. While strong demand boosted prices, with gains of at
least 10% in the past six years, the pace slowed to 3.2% in April.


In contrast, new listings picked up in the first quarter and this trend continued into April, with
listings in the major markets up 17.7% compared to a year earlier. Slowing in the
housing market was expected and, to some degree, desired because affordability
had been increasingly strained through 2007, with most major markets seeing
affordability deteriorate to its worst levels since the early 1990s.


On the supply
side, the high level of demand continues to support construction activity with
housing starts running at an historically fast rate. The structural backdrop to
Canada's housing market remains solid, with very limited sub-prime mortgage
activity, a relatively small speculative sector and no significant supply overhang
despite robust construction activity.


Affordability is also forecast to improve
this year, with the Bank of Canada having cut the overnight rate by 150 basis
points since last December, mortgage rate spreads showing some signs of narrowing
and the pace of house price gains slowing.

Read more about:Homes for Sale

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987

( BUS 905-828-3434
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Friday, August 01, 2008

Mississauga Real Estate Current Mortgage Interest rates

These are the Mississauga Real Estate Current Mortgage Interest rates
TERMPOSTED OUR RATES*
6 Month 6.2%6.2%
1 Year6.95%5.05%
2 Year7%5.25%
3 Year7%5.14%
4 Year6.99%5.54%
5 Year7.15%5.37%
7 Year7.6%5.8%
10 Year7.95%5.9%
Variable Rate4%
Prime Rate4.75%
















* Rates may vary provincially and are subject to change without notice.
Rates Last Updated: Thursday, July 31, 2008














Read more about:Homes for Sale

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987

( BUS 905-828-3434
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale