Wednesday, January 19, 2011
2011 TREB MLS® Average Price Monthly Time Series with Trend Line Actual
Explanation: This chart plots monthly MLS® average price since January 1995. The blue line shows the actual average price. The brown line is the trend computed using a 12-month moving average, which exhibits no seasonal variations or other irregular fluctuations. A substantial change in actual average price must occur to change the direction of the trend.
For more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com
Tuesday, January 18, 2011
2011 TREB MLS® New ListingsMonthly Time Series with Trend Line
For more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com
Monday, January 17, 2011
Mortgage Tightening of Rules in Canada from Bank of Canada
The Bank of Canada has announced some changes to lending rules in Canada.
Mortgages can only be CMHC insured if they are 30 years or shorter amortizations. This means that most lenders will not approve mortgages over 30 years with less than 10% downpayment.
Refinancing of homes will be capped at 85% of the value, down from the current 90%
Interesting news indeed!
In my opinion, rather than increasing rates the "tightening" is a better tactic for the Bank of Canada to take. It will help protect us all from overextending ourselves.
Thanks for the update and hope you have a great year!
Mark
This is the article that was just sent to me from a mortgage broker, Paul
Meredith of CityCan Financial
With rising consumer indebtedness among Canadians, Finance Minister Jim Flaherty announced this morning that the government will be implementing new tighter restrictions on mortgage lending. As of March 18th, mortgages with amortizations greater than 30 years will no longer qualify for government-backed mortgage insurance (CMHC), down from the current 35 years.
In addition to the reducing the maximum amortization, they will also be restricting the amount of money one can obtain through refinancing to 85% of the homes value, down from the current 90%. This will also take effect on March 18th.
Mortgage applications with 35 year amortization and refinancing to 90% will still be accepted up until March 18th. Although, we will see if CMHC doesn't start declining these applications early, as we saw last spring when they reduced the maximum refinance to 90%, down from the previous 95%.
Home buyers will still be able to purchase homes with as little as 5% down payment. There are still ways to purchase with no money down, such as using a 5% cash back and applying it to the down payment. There is no word as to whether CMHC will continue to offer that product after March 18th.
Tomorrow morning, the Bank of Canada makes their next interest rate announcement. The prime rate is expected to remain unchanged at 3.00%.
Written by Paul Meredith, CityCan Financial
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
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2011 TREB MLS® New Listings Monthly Time Series with Trend Line Actual
Explanation: This chart plots monthly MLS® new listings since January 1995. The blue line shows actual new listings. The brown line is the trend computed using a 12-month moving average, which exhibits no seasonal variations or other irregular fluctuations. A substantial change in actual new listings must occur to change the direction of the trend.
For more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com
Sunday, January 16, 2011
2011 TREB MLS® Sales Monthly Time Series with Trend Line
Explanation: This chart plots monthly MLS® sales since January 1995. The blue line shows actual sales. The brown line is the trend computed using a 12-month moving average, which exhibits no seasonal variations or other irregular fluctuations. A substantial change in actual sales must occur to change the direction of the trend.
For more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com
Saturday, January 15, 2011
TREB Real Estate average prie graph from 2000 to date
For more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com
Friday, January 14, 2011
2011 TREB MLS® Average Resale Home Price Monthly with Three Previous Years for Comparison
Monthly with Three Previous Years for Comparison
Explanation: This chart plots the monthly MLS® average home price for the current year and the previous three years. The recurring seasonal trend can be examined along with comparisons to previous years for each month.
For more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com
Current posted and best mortgage interest rates in the GTA
rates in the GTA
TERM POSTED Achievable RATES*
6 Month 4.45% 3.75%
1 Year 3.35% 2.70%
2 Year 3.60% 3.10%
3 Year 4.15% 3.19%
4 Year 4.94% 3.74%
5 Year 5.19% 3.74%
7 Year 6.09% 4.65%
10 Year 6.40% 5.05%
Variable Rate 2.30%
Prime Rate 3.00%
* Rates may vary and are subject to change without notice OAC.
Rates Last Updated: Thursday, January 13, 2011
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
Thursday, January 13, 2011
TREB Real Estate average number of sales monthly over time since December 2009 to date
For more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com
Wednesday, January 12, 2011
2011 TREB MLS® Sales-to-New Listings Ratio Monthly with Three Previous Years for Comparison
Explanation: This chart plots the monthly MLS® sales-to-new listings ratio (SNLR) for the current year and the previous three years. The recurring seasonal trend can be examined along with comparisons to previous years for each month. When the SNLR moves higher, annual average price growth generally increases –often at a rate well above inflation. When the SNLR moves lower, annual average price growth generally declines and can become negative.
For more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com