Showing posts with label real-estate-strategies. Show all posts
Showing posts with label real-estate-strategies. Show all posts

Wednesday, June 01, 2022

Bank of Canada increases prime rate 0.5% on June 1, 2022 Prime now 1.5%

The Bank of Canada raised its key interest rate by half a percentage point to 1.5% on Wednesday June 1, 2022

Bank Prime lending rates are now 3.7%

It's the 3rd half-point hike this calendar year in an attempt to slow our soaring inflation. 


This is a great article about the future of real estate in the GTA and how interest rates may be one of the factors that affect the real estate marketplace


Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Wednesday, April 13, 2022

Bank of Canada raises its key interest rate by 0.5% to 1%

Bank of Canada raises its key interest rate by half a percentage point to 1% on WEDNESDAY, APRIL 13, 2022

Bank Prime lending rates are now 3.2%

It's the first half-point hike in more than two decades amid soaring inflation. 


This is a great article about the future of real estate in the GTA and how interest rates may be one of the factors that affect the real estate marketplace, or read below:

Toronto Real Estate forecast 2022, April 11, 2022 
Wednesday, April 13⋅7:00 – 8:00am

Toronto real estate forecast 2022
by Corben Grant on 11 Apr 2022

After a hectic two years, in both real estate and the world at large, we have made it 2022 and it seems we are now entering yet another new phase. Though the world is slowly returning to normal, those paying attention to the real estate market are left wondering – what exactly does “normal” look like? How will things play out following the unprecedented market conditions of the last two years?

In Toronto, one of Canada's largest real estate markets, thousands of investors are now trying to anticipate what the future will hold and others are wondering if now is the time to buy in.

Telling the future is understandably a difficult and ultimately futile practice. However, there are many informed analysts who can at least give a pretty good guess. By looking at past market conditions, upcoming economic and legislative changes, and a bit of guesswork, it’s possible to make a more informed forecast.

In this article, we will explore what the 2022 Toronto real estate market could look like.

Current statistics
Before we get into the future of the market, we should probably understand how it stands now. All data in the following section is sourced from the Toronto Regional Real Estate Board's (TRREB) most recent market statistics from March 2022.

In March of 2022, the Toronto real estate market continued at an active pace though in some key areas it showed some signs of balancing. Overall, it was marked as the third-best March on record and the second-best first quarter on record.

Housing prices down from February 2022
The average overall price across the GTA and for all housing types was $1,299,894. This marks one of the first decreases in price seen in quite a while, down from $1,334,544 in February. This also goes against the seasonal trend that would tend to see prices begin to rise into the spring market. Despite the month-over-month dip, price growth still remained in the double digits on a year-over-year basis, up from $1,097,351 in March of 2021.



Detached homes sold at an average price of $1,920,018 and $1,632,832 in Toronto and the GTA respectively, both down from the previous month for a combined average of $1,697,396. Prices weren't down across the board, however, as the condo market notably saw marginal price gains from last month.

Both listings and sales were lower than the high records of March 2021, though they were up from the previous month. Supply on the market remained at around just one month.

An anomaly or a sign of things to come?
This last month then presented a moderately more balanced market for Toronto, though we are far from out of the woods yet. What remains to be seen is if this is a temporary off month or the start of a longer trend in the market.

TRREB Chief Market Analyst Jason Mercer is quoted in the release as saying that though competition among buyers remains strong in most segments, the city did “experience more balance in the first quarter of 2022 compared to last year. If this trend continues, it is possible that the pace of price growth could moderate as we move through the year.”

What 2022 will hold for the Toronto housing market
There are years where housing markets are fairly easy to predict with some accuracy as was the case for some of the pre-pandemic years in Toronto. However, the last two years have proven that unexpected events are very real and major disruptions can happen out of nowhere.

2022 is looking to be another year of unpredictable changes in the market. With the world recovering gradually from a global pandemic, the reinvigoration of the Canadian economy, rising interest rates, and new legislation coming into effect to cool the real estate market, there will be no shortage of potential shake-ups this year.

Each of these new factors will naturally have its own effects, but the combined effect of all the changes together becomes increasingly difficult to call. In the next section, we will look at some of the new changes expected for this year and how they can affect the housing market.

Rising interest rates
One of the biggest changes that are essentially guaranteed to play a role in the market this year is the interest rate increase from the bank of Canada.

Many reaped the benefits of record low rates in 2020-2021
During the depths of the pandemic, the Bank of Canada kept its prime interest rate at a record low level in order to aid the economy in getting through difficult times. While it may have helped the economy, the low-interest rates also played a part in driving up prices in Canada's real estate market, as well as growing inflation. With such low interest rates, buyers were able to afford higher mortgages so prices began to grow.

Multiple interest rate hikes predicted for this year
Now, the central bank has begun to raise interest rates, with a first hike occurring in March and at least a few more predicted for the rest of the year. The impact of gradually increasing rates on the Canadian housing market won't be instantaneous, but we should see effects sooner than later. As interest rates rise, more potential buyers will fail to qualify for loans, lowering the demand on the market. Those who do qualify will need to look for lower-priced homes. The hope is that this will cool the market somewhat.

New legislation in the Toronto real estate market
Housing concerns have been on the top of the agenda across nearly all party lines in Canadian politics for the last number of years and new legislation on both the provincial and federal levels are set to be put in place this year to curb the rampant housing market.

Non-Resident Speculation Tax
Recently, the province announced an increase to the Non-Resident Speculation Tax and a widening of its applicable area. The result is that any foreigners looking to buy homes in Toronto will be forced to pay a tax of 20%. This should reduce some demand on the market and allow Canadian residents a chance to buy homes with less competition.



Foreign Homebuyers Ban
On the federal level, the liberal government is set to take an even stricter stance, with a proposal to ban almost all foreign purchases for up to two years. This would all but erase completion from foreign buyers and reduce a lot of competition for homes. The matter of foreign buyers is contentious as there is still plenty of domestic demand for homes that will keep prices elevated, however, reduced competition is nonetheless welcome.

New housing supply initiatives
The Ontario government is also moving forward with plans to increase housing supply in coming years by streamlining development processes, with hopes to build 1.5 million new homes in the next 10 years. This should serve to combat the low housing supply that has plagued the market in recent years.

Toronto Vacant Homes Tax
Finally, Toronto itself has a newly instated Vacant Homes Tax coming into effect that hopes to bring more houses to the market. Such a tax has been effective in Vancouver to reduce the overall number of vacant homes, relieving some pressure on both the resale and rental markets.

In combination, these new laws should reduce demand and competition, while increasing the housing supply. While it is unlikely to cause a significant drop in house prices, it will allow for the market to cool and balance and help to ease the incredibly strong seller's market seen in recent years.

Economic recovery
Another aspect that can come into play for the housing market is an overall move towards a stronger Canadian economy in the recovery from the pandemic recession. As supply chain conditions begin to improve, this can have positive effects on the price of new-home development. Reigning inflation will also help ease financial burdens on Canadians and growing rates of employment and income will allow more Canadians to enter the market.

Unexpected events
One thing that recent times have made abundantly clear is that you never know what is around the corner. Even our best predictions will fail nine times out of 10 times to foresee the most unexpected events.

The two biggest causes of uncertainty right now come from the continued presence of COVID
15 minutes before
Mark Argentino


Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Thursday, April 16, 2020

The Bank of Canada reduced the prime rate to 1/4% on March 27, 2020 - this is all in response to COVID-19 crisis in a effort to help with reducing interest payments paid by Canadians during this crisis.

The Bank of Canada has reduced the bank rate twice in the past 30 days, both times by 0.5%.

The current overnight rate is 0.25%

As of April 16, 2020 the Bank Prime Rate (rate charged to average customer) was 2.45%

The Bank of Canada Prime Rate is currently 0.25% and the current Prime Lending Rate is 2.45% The Bank prime rate is typically about 2% higher than the overnight rate, but for the past few years the banks are not passing along this entire amount and this is why the current bank lending rate to their prime to customers is 2.45% 


The major banks in Canada typically charge their best customers 2% to 2.2% above the Bank of Canada Prime Rate. Today, it's 2.20% above prime, which means that the Bank Prime or Prime Rate that we see is now 2.45% 

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.

Mortgage Interest Rates over time
Toronto Real Estate Board (TREB) Average Prices and Graph
Click Graph to see Average Prices over time





For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Monday, November 05, 2018

Real Estate Prices UP and Sales Volume UP - Mississauga and GTA Real Estate Newsletter November 2018 - Issue 11:05

Real Estate Prices UP and Sales Volume UP - Mississauga and GTA Real Estate Newsletter November 2018 - Issue 11:05

Once again, last month was another very strong month for sales and prices in the GTA.

November 2018 News
Greetings from Fabulous Mississauga!
  • The average selling price last month was $807,340 (it was $796,786the previous month) and it was up about 3.5% compared to previous same month last year - see graph of prices here
  • Greater Toronto Area REALTORS® reported 7,492 (it was 6,455 last month) residential sales through TREB’s MLS® System last month. This result represented a 6% increase compared to sales reported in the same month in 2017.
  • The MLS® Home Price Index (HPI) Composite Benchmark price was up 2.6% on a year-over-year basis. 

  • The Bank Prime rate for most lenders now stands at3.95% read more about Interest rates
  • The Bank of Canada Prime Lending Rate is the same as last month at1.75% read more


Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Friday, October 05, 2018

How does "affordability" (sales price + interest rate) influence market direction

Greetings from fabulous Mississauga!

I received a couple of insightful questions from an avid reader and thought I would share the questions and my thoughts on them

The questions were:

Mark,

I really enjoy receiving your emails with the latest POS properties and all the real estate information that you include.

I have a couple of questions:

     1. The average house price fluctuation we see on a yearly basis, is that price when the property is sold or is it the closing date? This would shift the cycle by a couple months depending.

      2. I can’t help wonder the influence of interest rates on price. I have a suspicion that “affordability” (sales price + interest rate) has a lot to do with the market direction? Have you ever graphed the house prices vs. interest rate?

Keep the great information flowing!!

Thanks again

BB

My answer was:

Hello BB

Thank you for your email.

Regarding your first point, the sold price is as of the date the property was sold, not the closing date.   

Your second point about the relationship between interest rates and prices is interesting.  I suspect here is a relationship, but not sure how closely one follows the other.  When rates increase it seems there is often a slight pause or lull in sales and then it continues again.  On the other hand, sometimes when rates go up there is a sudden surge in sales as the people who are pre-approved and locked into the lower rate end up purchasing.  When rates are trending downwards and there is a drop in the mortgage rate or an expected drop in rates, purchasers often go into a holding pattern waiting for rates to bottom out.   It really depends upon the “mood” of the market and which direction rates are going.  I’ll see what I can find with the numbers and let you know if I find a good relationship and high confidence value.

You also mention affordability and market direction.  Yes, I believe there is a relationship between these two factors too.  Again, there seems to be a tipping point where when rates and prices get too high, affordability becomes an issue and the market slows down.  The converse is also true.  I’ve found that the trend and the mood of the real estate marketplace and the press has more impact on the market direction than the actual numbers.  There are many instances of fear influencing the market far more than a change in interest rate or price.  When the government introduced the foreign buyers tax which ultimately affects less than 4% of all sales, our market collapsed.  Conversely, the fear of missing out on the rapid and sustained rise in prices caused many people to get into the market sooner than they otherwise would have (or should have) during many periods over the past 30 years.

Depending on where we are on the “Market Cycle”  greatly affects the marketplace.  To read more, see this page: http://www.mississauga4sale.com/Market-Emotions-Cycle.htm  I see that I need to update that page!

There are many more aspects to the real estate market that one can analyze. 

All very interesting factors to consider! J

Thank you,
Mark

Thursday, April 19, 2018

Bank of Canada Interest Rate Announcement April 18 2018 - Maintain overnight rate target at 1.25 per cent

Greetings from Fabulous Mississauga! 


The Bank of Canada announced yesterday, April 18, 2018 they would maintain overnight rate target at 1.25 per cent

This means that the bank rate will remain at this level for at least the next 3 months.

The Bank of Canada governors made it very clear that Canadians must be prepared for a series of future interest rate increases.

See the full press release below.

All the best!
Mark




Bank of Canada maintains overnight rate target at 1 ¼ per cent

The Bank of Canada today maintained its target for the overnight rate at 1 ¼ per cent. The Bank Rate is correspondingly 1 ½ per cent and the deposit rate is 1 per cent.
Inflation in Canada is close to 2 per cent as temporary factors that have been weighing on inflation have largely dissipated, as expected. Consistent with an economy operating with little slack, core measures of inflation have continued to edge up and are all now close to 2 per cent. The transitory impact of higher gasoline prices and recent minimum wage increases will likely cause inflation in 2018 to be modestly higher than the Bank expected in its January Monetary Policy Report (MPR)returning to the 2 per cent target for the rest of the projection horizon.
The global economy is on a modestly stronger track than forecast in January, with upward revisions to growth and potential output in a number of major advanced economies. The outlook for the U.S. economy has been further boosted by new government spending plans. However, escalating geopolitical and trade conflicts risk undermining the global expansion.
In Canada, GDP growth in the first quarter was weaker than the Bank had expected, but should rebound in the second quarter, resulting in 2 per cent average growth in the first half of 2018. The economy is projected to operate slightly above its potential over the next three years, with real GDP growth of about 2 per cent in both 2018 and 2019, and 1.8 per cent in 2020. This stronger profile for GDP incorporates new provincial and federal fiscal measures announced since January. It also reflects upward revisions to estimates of potential output growth, which suggest the Canadian economy has made some progress in building capacity.
Slower economic growth in the first quarter primarily reflects weakness in two areas. Housing markets responded to new mortgage guidelines and other policy measures by pulling forward transactions to late 2017. Exports also faltered, partly owing to transportation bottlenecks. Some of the weakness in housing and exports is expected to be unwound as 2018 progresses.
The Bank anticipates that Canadian exports will strengthen as foreign demand increases, but not sufficiently to recover the ground lost during recent quarters. Export growth is being increasingly limited by capacity constraints in some sectors. Continued gains in business investment should build additional capacity in those sectors and in the economy more generally. However, both exports and investment are being held back by ongoing competitiveness challenges and uncertainty about trade policies.
Growth in consumption remains robust, supported by strong labour income growth. Wages have continued to pick up as expected, even after factoring out recent minimum wage increases in Ontario and Alberta. The Bank will continue to assess labour market data for signs of remaining slack.
Some progress has been made on the key issues being watched closely by Governing Council, particularly the dynamics of inflation and wage growth. This progress reinforces Governing Council’s view that higher interest rates will be warranted over time, although some monetary policy accommodation will still be needed to keep inflation on target. The Bank will also continue to monitor the economy’s sensitivity to interest rate movements and the evolution of economic capacity. In this context, Governing Council will remain cautious with respect to future policy adjustments, guided by incoming data.


I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com


Monday, June 05, 2017

Mississauga and GTA Real Estate Marketplace Conditions as reported on June 5th 2017

Hello from Fabulous Mississauga!

The latest numbers have just been reported from TREB for last months (May 2017) real estate marketplace.

As expected, the number of MLS listings are up by over 42% and the number of sales were down by 26%

Average prices year over year were up BUT the average price dropped from $919,614 in April to $863,910 in May.  This is highly unusual for average prices to drop in the period April to May.  Generally the average price increases during this period and has increased over the past 8 years except in 2012 where it dropped marginally.  This year the drop from April to May was about 6%

See the graph of average prices by clicking the image below.




The full report is below

I wish you all the best!
Mark



Active Listings Increase in May

TORONTO, June 5, 2017 – Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 10,196 sales through TREB’s MLS® System in May 2017 – down by 20.3 per cent compared to 12,790 sales reported in May 2016.

Sales of detached homes were down by 26.3 per cent. Sales of condominium apartments were down by 6.4 per cent.

Active listings – the number of properties available for sale at the end of May – were up by 42.9 per cent compared to the lowest level in 15 years recorded in May 2016, but remained below the average and peak during that period. The number increased considerably for low-rise home types including detached and semi-detached houses and townhouses. Active listings for condominium apartments were down compared to May 2016.

“Home buyers definitely benefitted from a better supplied market in May, both in comparison to the same time last year and to the first four months of 2017. However, even with the robust increase in active listings, inventory levels remain low. At the end of May, we had less than two months of inventory. This is why we continued to see very strong annual rates of price growth, albeit lower than the peak growth rates earlier this year,” said Mr. Cerqua.

Selling prices continued to increase strongly in May compared to the same month in 2016. The MLS® HPI Composite Benchmark price was up by 29 per cent year-over-year. The average selling price for all home types combined for the TREB Market Area as a whole was up by 14.9 per cent to $863,910. Year-over-year price increases were greater for condominium apartments compared to low-rise home types.

This likely reflects the fact that the low-rise market segments benefitted most from the increase in listings.

“The actual, or normalized, effect of the Ontario Fair Housing Plan remains to be seen. In the past, some housing policy changes have initially led to an overreaction on the part of homeowners and buyers, which later balanced out. On the listings front, the increase in active listings suggests that homeowners, after a protracted delay, are starting to react to the strong price growth we’ve experienced over the past year by listing their home for sale to take advantage of these equity gains,” said Jason Mercer, TREB’s Director of Market Analysis.


I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com


Tuesday, March 07, 2017

Real Estate Prices UP by nearly 28% in the GTA Real Estate Marketplace




Greetings from Fabulous Mississauga!

click this image to see a graph of real estate prices
  • The average selling price last month was $875,983 (it was $770,745 the previous month) compared to January of last year. and this represents aver a 27.7% increase compared to the same month last year- see graph of prices here
  • The overall average selling price for calendar year 2016 was $729,922 – up 17.3 per cent compared to 2015
  • Greater Toronto Area REALTORS® reported 8,014 residential transactions through TREB's MLS® System last month. This result was up by 5.7 per cent compared to the same month last year
  • The Bank of Canada Prime Lending Rate now stands at 2.70% steady (since July 2015) 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

Mortgage Interest Rates - time to lock in? 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. 



All the best!
Mark


Wednesday, July 13, 2016

Bank of Canada announces it will maintain its target rate at 1/2 per cent

Greetings from Fabulous Mississauga!

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.

This means that mortgage rates and bank prime rates should be steady for next month or so.  Of course lenders can offer rate specials that you may be able to take advantage of.

Prime lending rate to consumers will likely stay at 2.70%

Inflation in Canada is on track to return to 2 per cent in 2017 as the complex adjustment underway in Canada’s economy proceeds. The fundamentals remain in place for a pickup in growth over the projection horizon, albeit in a climate of heightened uncertainty.


I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com


Thursday, May 12, 2016

How to get top dollar for your home - article from MoneySense

This is an article that appeared in MoneySense about How to get top dollar for your home and some information the current state of our real estate market in 2011.  Too bad we didn't have the foresight back then to see how much the average price would increase, otherwise we would have purchased many properties!

Read the full article here

I wish you the best,
Mark









Wednesday, May 11, 2016

Whatever the mind can conceive and believe, it will achieve

I received this email and thought I would share the contents with you.  

I am a firm believer that 'whatever the mind can conceive and believe, it will achieve'  This has been my credo since I can remember.  

I firmly believe that you have to visualize your success in order to become successful in life or any venture you undertake.
Some of the "words of wisdom" that came across my plate recently are shown below.  The key is that you can't afford to be an average leader.

Enjoy!
Mark

So, how do you become the great leader that you want to be?

One method is by studying, learning and teaching the principles that Dr. John C. Maxwell shares in his powerful program, Lessons On Leadership.

He talks about LEADERSHIP DEVELOPMENT, SUCCESS and TEAMWORK.

This is a comprehensive program for self-training, teaching and mentoring.

Some of the key aspects of leadership are
* Growing yourself and your team
* Learning the role of serving in leadership
* The importance of modeling
* How to connect with others
* Causing people to learn
* Gaining ideas for effective teaching
* Ways to sustain motivation
* Establishing trust
* Rebuilding when trust is gone
* Challenges of leading from the middle
* How to keep the leadership pipeline pumping
* Learn principles leaders practice to lead up
* The principles of leading peers
* Becoming a person of influence
* Competing vs. completing
* Making your attitude your greatest asset
* How to deal with discouragement
* Dealing with change
* How to profit from failure
* The four major benefits of listening
* Moving others to action
* How to avoid losing touch with your people
* Leading on the basis of trust
* Avoiding inconsistent leadership
* The pitfalls of personal insecurity
* Making the tough calls
* And many more!

I spend a great deal of my time visualizing and determining that there is no other outcome in my life other than SUCCESS and the methods of achieving success are:

* Adding value to yourself and others
* Knowing your purpose in life
* Growing to your maximum potential
* Sowing seeds that benefit others
* How motives matter
* Characteristics of people who influence others
* Evaluating what you do with your time
* Doing the right things right
* Living with integrity and leading by example
* Developing a winning strategy or "big idea"
* Building a great management team
* Inspiring employees to achieve greatness
* Creating a flexible and responsive organization
* The 10 traits successful leaders have in common
* Four strategies that will keep you moving
* Leading from the front
* Holding others accountable
* Building on strengths
* Forming relationships
* Making good decisions
* How to prioritize decision-making
* Avoiding decision-making traps
* And many more!

TEAMWORK is another area that I focus on:

* Understanding the value of unity
* Diversity in skills
* Gathering and growing a team
* Creating an environment that rewards creativity
* Motivating your team for unpleasant challenges
* The four stages of training
* Commitment that inspires results
* Communication that increases effectiveness
* Adding value to team-mates
* What a coach should communicate
* What a coach should look for in players
* Adding value individually and collectively
* Coach John Wooden's nine promises to make and keep
* Motivating players to fulfill their roles as part of the team
* Paying attention to fundamentals and details
* Five steps of teaching
* Players vs. pretenders
* Having a servant's mindset
* Why hard choices are hard to make
* And many more!

One of the benefits is that you will experience significant impact on your own growth and the growth of those around you
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.com8 Website : Mississauga4Sale.com
Homes for Sale

Thursday, May 05, 2016

You can save money when comparing the 1 year and 5 year mortgage interest rates

Hello from Fabulous Mississauga!

Interest rates are always on people's minds.


A very interesting relationship is between the 1 year and 5 year mortgage interest rates compared over time. 

People often ask me if they should choose the short term rates or lock in for the long term rates with their mortgage. 

The answer is not simple and often depends upon your personal situation and your risk tolerance, read more about locking in your mortgage for the long or short term

The graph below shows you the difference between the 1 year rate and the 5 year rate. The wider the gap, the more opportunity for you to save money by having a short term mortgage.  This may give you some insight into what you may wish to do by comparing the difference between the short and long term rates over the past decade or so and how the difference fluctuates.



I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com


Sunday, April 17, 2016

Bank of Canada Leaves interest rate at 0.5%

The Bank of Canada announced on April 13 2016 that they would be leaving the overnight lending rate at 0.5%

This means that consumer lending rates should remain the same.

The bank prime rate that banks charge to the consumer remains at 2.70%

Read more about definition of rates

Below is, in part, what the Bank of Canada Announced on Wednesday April 13 2016:

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.
Growth in the global economy is expected to strengthen gradually from about 3 per cent in 2016 to 3 1/2 per cent in 2017-18, a weaker outlook than the Bank had projected in its January Monetary Policy Report (MPR). After a slow start to 2016, the US economy is expected to regain momentum, but with a lower profile and a composition that is less favourable for Canadian exports. Financial conditions have improved, partly in response to expectations of more accommodative monetary policy in some major economies.
Prices of oil and other commodities are off their earlier lows and slightly above levels assumed by the Bank in January, but remain well below historical averages. Nonetheless, the Bank expects deeper cuts to investment in Canada’s energy sector than were forecast in January. Meanwhile, the Canadian dollar has firmed, reflecting shifting expectations for monetary policy in Canada and the United States, as well as recent increases in commodity prices.
The Canadian economy’s complex structural adjustment to the oil price shock is ongoing and will dampen growth throughout the Bank’s projection horizon. First-quarter GDP growth appears to have been unexpectedly strong, but some of that strength is due to temporary factors and is likely to reverse in the second quarter. Still, it does appear that the positive forces at work in the economy are starting to outweigh those that are negative. Non-resource exports are expected to strengthen, but their profile is weaker than previously projected, in part because of slower foreign demand growth and the higher Canadian dollar. The economy continues to create net new employment, especially in services, despite job losses in resource-intensive regions. In this context, household spending continues to expand moderately. While business investment is still shrinking due to sizeable declines in the energy sector, it is expected to turn positive later this year. The complex adjustment figures importantly in the Bank’s annual review of the economy’s potential, which has resulted in a lower estimated range for potential output growth.

I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com


Wednesday, April 06, 2016

Bank of Canada Maintains overnight interest rate at 0.5% as of March 9th 2016

Good morning from Fabulous Mississauga!

As most economists expected, the Bank of Canada refrained from cutting interest rates at this week's policy announcement meeting.

On March 9, 2016 the Bank of Canada announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent

The key policy overnight rate is only 50 basis points (one-half of one percentage points or 0.5%) and another 25 basis point (bp) cut would only reduce the Bank's ability to take action, if needed, in the future.

The recent economic news has shown a marked improvement, precluding the Bank from following on the previous two rate cuts this year.

Read more here BankofCanada
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com