Mortgage Interest Rate update for Mississauga, Toronto and the GTA

The chart below shows you the current posted and attainable mortgage
interest rates in the Mississauga, Toronto and the GTA areas


TERM POSTED Attainable
RATES*
6 Month 4.60% 3.50%
1 Year 3.65% 2.35%
2 Year 3.95% 2.80%
3 Year 4.30% 3.25%
4 Year 5.04% 3.64%
5 Year 5.39% 3.64%
7 Year 6.30% 4.95%
10 Year 6.50% 5.20%
Variable Rate 1.75%
Prime Rate 2.25%





* Rates may vary and are subject to change without notice OAC.
Rates Last Updated: Thursday, March 18, 2010

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
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Best Mortgage Rates in the Mississauga and Toronto areas

See the latest rates at this link

Best Mortgage Rates


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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS NewsletterRE/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=MississaugaWebsite : Mississauga4Sale.com

• Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• Power of Sales and Foreclosures
• If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
• See seasonal housing patterns
• Would you like me to send you a 2010 Calendar?

Is this a WISE decision? Choosing NOT to buy real estate!

I had a subscriber comment on our marketplace and decided not to purchase.

He said:

Despite the media hype, I am making a wise decision to not purchase a house at this time, the peak of the market.

Hi,

I saw your reason for unsubscribing below and thought I would comment. I
tend to agree with you in my mind and logical thinking would say it's a bad
time to buy. Certainly if you listen to Garth Turner, he thinks the end is
near.

Real estate prices are at an all time high and seem to have no end in sight.
My wife and I are looking to move and it's a more expensive house we want to
move to, so we too are afraid that the bottom may fall out. But, I've been
saying that since 2003 when the market began to take off like a rocket and
has not stopped (except for September 08 to January of 09) since that time.
I've been saying for 7 years that we must be at the peak and prices can't go
any higher, and they keep going higher.

Nobody knows what will really happen in the future, but many think the HST
and increased interest rates will only slow our market advance, not halt or
cause retreat. Only time will tell.

All the best!
Mark

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

Average prices in GTA Real Estate market over past 14 months

This chart shows the average single family residential prices since the beginning of January 2009. Average prices were at about rock bottom in January 2009 at $343k and 13 months later the average price was $431k an increase of $88,000, that is very significant!

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

RBC is reporting a Bright Future Outlook for the Global Economy

RBC is reporting that the outlook for the global economy is looking very
positive. Only time will tell, but there are many indicators that are
showing the future looks bright indeed!

All the best,
Mark



A Brighter Outlook for the Global Economy

World GDP to increase by 3.9% in 2010.

Advanced economies are mainly out of recession and emerging economies to
post healthy gains.

U.S. economy to grow by 2.9% in 2010 and 3.4% in 2011.

Housing market fragile although worst has likely passed.

Inflation concerns on backburner; Fed watching for labour markets to
improve.

Early 2010 failed to deliver job increases although U.S. unemployment rate
fell from recent high.

Fed to unwind stimulus gradually with liquidity measures pared back first
and rate hikes coming later in the year.

Canada's economy surprised to the upside in fourth-quarter 2009 and
prospects brighten for 2010.

Domestic demand revives, and exports recover as global economy firms.

Inflation has been stickier than expected although the large output gap will
prevent significant price pressures from developing in the near term.

The Bank is already reducing liquidity support with rate increases likely
this summer.

investors appear to have more fully embraced the notion that the global
recession is a thing of the past. Growth reports remain mixed but by and
large indicate that most countries have cleared the hurdle needed to be in
full-fledged recovery mode.

The stronger than expected surge in U.S. GDP growth in the fourth quarter
and strengthening momentum in Canada's economy have made us more comfortable
with our forecasts of above trend growth in 2010 and 2011.

Similarly, the IMF revised up its 2010 world GDP growth forecast to 3.9%.
This was a solid upgrade to the 3.1% increase expected in October and about
double the pace projected in its April 2009 outlook. While investors can
breathe a sigh of relief on the state of the global economy

Number of active real estate listings down about half in Toronto and GTA

This chart shows that the number of active listings is down considerably in
the past month or two compared to the previous 10 months.

With so little choice on the market, people are buying most properties
without having too many options.

This is a very good time to sell your home.

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
| Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> | Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices | Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm> |
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
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
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?

Clarification of the new mortgage regulations when purchasing real estate in Ontario

Clarification of the new mortgage regulations when purchasing real estate in Ontario

The minimum down payment continues to be 5% for real estate purchases. There seems to be no plans to change this rule.

The new 10% equity rule applies to when you are refinancing your home, not on a purchaseonly.

The 20% minimum down payment rule applies to non-owner occupied (rental properties or investment properties) only.

All mortgages now need to be qualified on 5 year rates. This means that the rules have tightened somewhat. In the past, 1,2,3 year, and variable rate mortgages were qualified based on the 3 year mortgage rate. This means that some homebuyers who have qualified in the past may not qualify under the new regulation if the debt service ratios were too close to the guidelines. It's a very slight change, but important for people who were very close to the maximum guidelines.

I hope this finds you Happy and Healthy!

All the Best!

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

• Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• Power of Sales and Foreclosures
• If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
• See seasonal housing patterns
• Would you like me to send you a 2010 Calendar?

Curent spot and achievable mortgage interest rates in Toronto and the GTA

These are the current spot mortgage rates in Toronto and the GTA

TERM	POSTED	Achievable RATES*
6 Month	4.60%	3.50%
1 Year	3.65%	2.35%
2 Year	3.95%	2.90%
3 Year	4.30%	3.25%
4 Year	5.04%	3.64%
5 Year	5.39%	3.69%
7 Year	6.30%	4.95%
10 Year	6.50%	5.20%
Variable Rate		1.85%
Prime Rate		2.25%

I hope this finds you Happy and Healthy!

All the Best!

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

• Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• Power of Sales and Foreclosures
• If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
• See seasonal housing patterns
• Would you like me to send you a 2010 Calendar?

Mortgage Belt Tightening New Qualifying Rate for Mortgage from Apr 19 will be 5.39% Post Rate

Good morning

For all variable-rate mortgages and fixed terms under five years, the new qualifying interest rate will be the greater of:

* the chartered bank 5-year posted rate (5.39% today), and
* the contract rate.

These changes take effect April 19, and are part of the new mortgage rules announced by the Finance Department on February 16.

The posted qualifying rate will be published by the Bank of Canada http://www.bankofcanada.ca/en/index.html each Monday at approximately 12:01am Eastern Time.

Here’s the link: Posted Mortgage Rate http://www.bankofcanada.ca/en/rates/interest-look.html (Look for series V121764.)

Mortgages over five years will use the contract interest rate.

These changes only apply to mortgages over 80% LTV says CMHC, read their announcement here: http://www.cmhc-schl.gc.ca/en/hoficlincl/ .

Currently lenders use qualifying rates at range from discounted 3-year fixed rates (like 3.29% today) to posted 5-year fixed rates (5.39% today).

For mortgages with multiple terms (e.g., hybrid mortgages), each term will be qualified using the applicable criteria above.

Based on recent inquiry levels from concerned borrowers, there may be a rush to get applications in under the old rules.

Please send this email to anyone you know who is thinking of purchasing in the next month or two!

I wish you all the best!

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

• Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• Power of Sales and Foreclosures
• If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
• See seasonal housing patterns
• Would you like me to send you a 2010 Calendar?

Average Toronto single family real estate prices for past 10 years

This graph shows that the average price is up considerably over the past 10
years.
Although past performance is not an indication of future performance, real
estate appears to be an excellent long term investment.

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
| Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> | Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices | Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm> |
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
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
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?