Wednesday, January 21, 2015

Bank of Canada Rate announcement to drop Prime Rate by .25%

Hello!

Just when you thought that you could predict the future, the Bank of Canada announces a prime interest rate cut!

After nearly 4.5 years, the bank rate has finally changed.  I'm sure very few predicted the rate would drop. 

The prime rate is now 3/4% and the prime rate banks charge to customers is now 2.75%  The previous rate was 3%  This is unexpected news and good for anyone looking to borrow soon or having a mortgage coming up for renewal any time soon!

This is in direct contrast to all the recent announcements and many economists saying that the economy is bullish and they anticipate a rise in the rate in late 2015 or 2016, so much for the experts!

This is an excerpt below,

Enjoy!
Mark



The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent. This decision is in response to the recent sharp drop in oil prices, which will be negative for growth and underlying inflation in Canada.
Inflation has remained close to the 2 per cent target in recent quarters. Core inflation has been temporarily boosted by sector-specific factors and the pass-through effects of the lower Canadian dollar, which are offsetting disinflationary pressures from slack in the economy and competition in the retail sector. Total CPI inflation is starting to reflect the fall in oil prices.
Oil’s sharp decline in the past six months is expected to boost global economic growth, especially in the United States, while widening the divergences among economies. Persistent headwinds from deleveraging and lingering uncertainty will influence the extent to which some oil-importing countries benefit from lower prices. The Bank’s base-case projection assumes oil prices around US$60 per barrel. Prices are currently lower but our belief is that prices over the medium term are likely to be higher.
Read the entire report here:
http://www.bankofcanada.ca/2015/01/fad-press-release-2015-01-21/

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
Thinking of selling your home in the next 3 to 6 months?  Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm
Power of Sales and Foreclosures
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 Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm
See seasonal housing patterns
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Friday, December 05, 2014

Toronto Real Estate Board latest sales results for single family dwellings in GTA

Hello from Beautiful Mississauga!

This is the latest statistics and press release from the Toronto Real Estate Board

Average prices for last month were $577,936  - up 8 percent compared to same month last year
Number of Sales for last month were 6.354 - up 6.6 percent compared to same month last year

The press release and statistics are below

I hope this finds you happy and healthy!
Mark

Sales & Price Growth Continue in November

TORONTO, December 4, 2014 – Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 6,519 residential transactions through the TorontoMLS system in November 2014.

This result was up by 2.6 per cent compared to 6,354 sales reported in November 2013. Through the first 11 months of 2014, total sales amounted to 88,462 - up 6.6 per cent compared to the same period in 2013.

While the trend of year-over-year sales growth continued, the supply of listings remained constrained, with active listings at the end of November down in comparison to last year.

"Even with a constrained supply of homes for sale in many parts of the Greater Toronto Area, buyers continued to get deals done last month. Households remain upbeat about home ownership because monthly mortgage payments remain affordable relative to
accepted lending standards. This is coupled with the fact that housing has proven to be a quality long-term investment," stated Mr. Etherington.

The average selling price for November transactions was up by 7.4 per cent year-over-year to $577,936. The year-to-date average price was up by 8.4 per cent to $567,198.

The MLS(R) Home Price Index Composite Benchmark price for November was up by 7.7 per cent compared to a year earlier.

"The robust average price growth experienced throughout 2014 has been fundamentally sound, with demand high relative to supply. Strong competition between buyers has exerted upward pressure on selling prices. Barring a substantial shift in the relationship between sales and listings in the GTA, price growth is expected to continue through 2015," said Jason Mercer, TREB's Director of Market Analysis.



PRESS RELEASE:

TORONTO, December 4, 2014 - Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 6,519 residential transactions through the TorontoMLS system in November 2014.

This result was up by 2.6 per cent compared to 6,354 sales reported in November 2013. Through the first 11 months of 2014, total sales amounted to 88,462 - up 6.6 per cent compared to the same period in 2013.

While the trend of year-over-year sales growth continued, the supply of listings remained constrained, with active listings at the end of November down in comparison to last year.

"Even with a constrained supply of homes for sale in many parts of the Greater Toronto Area, buyers continued to get deals done last month. Households remain upbeat about home ownership because monthly mortgage payments remain affordable relative to accepted lending standards. This is coupled with the fact that housing has proven to be a quality long-term investment," stated Mr. Etherington.

The average selling price for November transactions was up by 7.4 per cent year-over-year to $577,936. The yearto-date average price was up by 8.4 per cent to $567,198. The MLS(R) Home Price Index Composite Benchmark price for November was up by 7.7 per cent compared to a year earlier.

"The robust average price growth experienced throughout 2014 has been fundamentally sound, with demand high relative to supply. Strong competition between buyers has exerted upward pressure on selling prices. Barring a substantial shift in the relationship between sales and listings in the GTA, price growth is expected to continue through 2015," said Jason Mercer, TREB's Director of Market Analysis.

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 36,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board.

All the Best!

Mark

I hope this finds you Happy and Healthy!
All the Best!
Mark
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.comMississauga4Sale.com

Thinking of selling your home in the next 3 to 6 months?  Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

Power of Sales and Foreclosures
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 Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm


Wednesday, December 03, 2014

Bank of Canada Interest Rate stays steady December 3rd 2014

Good morning from Beautiful Mississauga!

The Bank of Canada made their interest rate announcement and once again they maintain their overnight rate at 1%.

The interest rate has been unchanged since September 2010 adding to the longest period of no change in the interest rate in history.

This means the prime rate to consumers remains unchanged at 3.00%

Some economists have been predicting that the prime rate will remain unchanged until sometime in 2016

My prediction is now for mid 2016 before we will see an increase in the rate of 3%   Many are saying longer.

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.comMississauga4Sale.com
 

Thursday, October 23, 2014

Location, Location, Location what does it mean when purchasing real estate?

You will find the information very helpful when you are purchasing your real estate

You have heard about the importance of location, but what really does that mean?  The article below will explain what location, location, location in real estate is all about.

Enjoy,
Mark

Location, Location, Location

You've probably heard this adage many times, but what does it mean?

Location of the property you are contemplating to purchase is one of the most important aspects of consideration when establishing the value of a property.  

For example, two identical homes can be priced and valued very far apart the only difference in many cases is the location of each home.  How can this be?

The following information about location would affect both how much you pay for a home and subsequent resale value of the home, so buyer beware of these items.


  • Distance to work. How long will the rush hour commute take? House prices generally decrease as the distance for the hub-of-activity increases.
  • Recreational facilities. Parks. playgrounds, baseball diamonds, community centres, arenas, swimming pools and soccer fields help establish ambience and a community-based neighbourhood.
  • Schools. Which schools service an area is often a high priority.
  • Shopping. Large malls serve an entire community. Intermediate sized plazas are accessed by commuters and pedestrians.
  • Support services. Everyone needs a doctor. dentist and a pharmacy. Day care cent res and religious facilities also rank high.
  • Transportation. Public transit and mature road networks are more readily available in built up and established area. Projected start dates for transit routes or road construction are only educated guesses.
  • Lot size. Street frontage is important but don't overlook depth.
  • Parking and garage.
  • Corner lots. To avoid creating a tunnel like appearance, corner lots are wider than normal, meaning more grass to cut, more sidewalk to clear of snow and ice, more fencing to erect without a neighbour to share the cost.
  • Side of the street. Homes on the west side receive morning sun at the front and afternoon sun in the back. South side homes bask in the sun at the rear, ideal for backyard enthusiasts.
  • Other factors. What street hardware (sidewalk, fire hydrant, overhead street lamp, traffic signs, hydro transformer box, super mailbox, etc.) is located on or near the lot?


Potential deterrents

Negative factors can include gas stations. railways tracks, airports, commercial developments, cemeteries, industrial parks and major highways.

Positive attributes in close proximity can sometimes become drawbacks. For example being near a school is important but would you want a school next door or across the street?

Other considerations

After narrowing your choice of community and neighbourhood, focus on these factors:

I hope these points help you with your next purchase.

 I wish you all the best with your purchase,
Mark

Wednesday, October 22, 2014

Bank of Canada keeps prime rate at 1%

The Bank of Canada announced today at their regular meeting that they are keeping the prime rate at 1%

This means that the Bank rate charged to customers at the major banks will remain at 3%

It's been over 4 years since the rate was pinned at 1% and the trend appears to be continuing.

The full release is below.
Mark


The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
Inflation in Canada is close to the 2 per cent target. Core inflation rose more rapidly than was expected in the Bank’s July Monetary Policy Report (MPR), mainly reflecting unexpected sector-specific factors. Total CPI inflation is evolving broadly as expected, as the pickup in core inflation was largely offset by lower energy prices. Underlying inflationary pressures are muted, given the persistent slack in the economy and the continued effects of competition in the retail sector.
Although the outlook remains for stronger momentum in the global economy in 2015 and 2016, the profile is weaker than in July and growth prospects are diverging across regions. Persistent headwinds continue to buffet most economies and growth remains reliant on exceptional policy stimulus. Against a background of ongoing geopolitical uncertainties and lower confidence, energy prices have declined and there has been a significant correction in global financial markets, resulting in lower government bond yields. Despite weakness elsewhere, the U.S. economy is gaining traction, particularly in sectors that are beneficial to Canada’s export prospects.  The U.S. dollar has strengthened against other major currencies, including the Canadian dollar.
In this context, Canada’s exports have begun to respond. However, business investment remains weak. Meanwhile, the housing market and consumer spending are showing renewed vigour and auto sales have reached record highs, all fuelled by very low borrowing rates. The lower terms of trade will have a tempering effect on income.
Canada’s real GDP growth is projected to average close to 2 1/2 per cent over the next year before slowing gradually to 2 per cent by the end of 2016, roughly the estimated growth rate of potential output. As global headwinds recede, confidence in the sustainability of domestic and global demand should improve and business investment should pick up. Together with a moderation in the growth of household spending, this is expected to gradually return Canada’s economy to a more balanced growth path. As the economy reaches its full capacity in the second half of 2016, both core and total CPI inflation are projected to be about 2 per cent on a sustained basis.
Weighing all of these factors, the Bank judges that the risks to its inflation projection are roughly balanced. Meanwhile, the financial stability risks associated with household imbalances are edging higher. Overall, the balance of risks falls within the zone for which the current stance of monetary policy is appropriate and therefore the target for the overnight rate remains at 1 per cent.


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.comMississauga4Sale.com
  • Thinking of selling your home in the next 3 to 6 months?  Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
    www.mississauga4sale.com/internet-evaluation.htm
  • Power of Sales and Foreclosureswww.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 Real Estate Newsletter sign up
    www.mississauga4sale.com/popupquestion.htm
  • See seasonal housing patternswww.mississauga4sale.com/TREBprice.htm
  • Would you like me to send you a desk or wall Calendar?
    www.mississauga4sale.com/Calendar-Order-Form.htm
 

Monday, October 13, 2014

Are Mortgage Interest Rates going up to down and should you buy hold and sell investment real estate?

I received an email from a reader and thought I would share the question and my answer with you.

The question from Aijaz was:


I love your site.
Thanks for keeping the data up to date.
Lots of good data on it.

Question. Do u think with interest rates going up possibly mid 2015.
This will cause a correction in pricing.

What is your opinion on the over value of canadas house pricing.
Some forecasters saying 20% drop in pricing.

Are you currently on the Buy, hold, or sell model for investment property?

My answer was:


Hello Aijaz

Thank you for your email and kind comments.

You are asking very good questions.  Unfortunately, nobody can predict the future but these are my thoughts and opinion.

I can see the prime rate rising to 3.25 and maybe 3.5% by the end of next year, at the earliest.  Even if/when this happens, the banks will raise their rates only slightly, I don't see them keeping in step with the Bank of Canada Rate. 

Rates will only rise to keep inflation in check.  I don't think that rates will cause a correction in pricing.  Yes, slightly fewer people will be able to enter the real estate market due to a price increase, but I don't feel this will have a large impact on our resale market.

I believe that it will be some other event or combination of events that will cause our real estate market to have a correction.  Our rise in prices has been unprecedented and nearly constantly upward since 1995.  Logic says this cannot continue forever.  Eventually the market increase in prices will slow and possibly retreat.  When this will happen is anyone's guess.  My opinion is that we will have a gradual slowdown of the market prices in late 2015 and into 2016, maybe only a 2 or 3% increase over that period rather compared to previous year over year increases of 4 to 10%  You have to compare figures from the same period previous year as prices fluctuate during the year and you need to watch the month over month trend to get a handle on real estate prices.  Year over year increases are what I am referring to.

Even if rates increase 0.5 or 1% we are still in extremely low interest rate period compared to last 50 years.  I think that these low rates will be with us until at least 2020 and possibly longer.  There is no reason for the rates to rise to 8% or higher and if they did, the economy would have great difficulty absorbing this shock and may crumble and correct as you and many are suggesting.  I feel this is a generational phenomenon, low rates may be with us for 20 years. Rates have been exceptionally low since 2009 and I see rates staying in this very low range well into the 2020's

Our real estate market, similar to the stock market, can have a major correction in a very short period of time.  Our TSX stock market has dropped (corrected - good grief I don't like that word, as it's a drop/loss/fall, not really a correction) nearly 10% since the high in mid September.  In a similar way, if buyers stop paying the prices that sellers are asking and the real estate market softens then we can easily have a correction in the average price of 10% or $60,000 on the current average price of nearly $600,000  It would take about 2 to 4 months for this correction to happen.

I am always of the mindset to buy and hold for the longer term, at least 5 years and more like 10 to 20 or longer.  Buy real estate, hold, reduce original amortization to 20 years, use bi-weekly accelerated payments, pay yourself by making up the $100 to $300 per month shortfall with your savings and let the tenants pay off your investment properties in 15 to 20 years.  Then you can enjoy the income in your later years.

I hope this helps.

If you have more questions, please let me know.

Happy Thanksgiving to you and your family!
Mark



Friday, October 03, 2014

Toronto Real Estate Board regarding sales of single family residential properties in September 2014

Hello from Fabulous Mississauga!

This is the latest report from the Toronto Real Estate Board regarding sales of single family residential properties last month

Average price was $573,676 up 7.7%
Number of units sold was up to 8,051 about a 10% increase compared to September last year

The full report is below
Mark


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.


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.comMississauga4Sale.com
  • Thinking of selling your home in the next 3 to 6 months?  Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
    www.mississauga4sale.com/internet-evaluation.htm
  • Power of Sales and Foreclosureswww.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 Real Estate Newsletter sign up
    www.mississauga4sale.com/popupquestion.htm
  • See seasonal housing patternswww.mississauga4sale.com/TREBprice.htm
  • Would you like me to send you a desk or wall Calendar?
    www.mississauga4sale.com/Calendar-Order-Form.htm
 

Monday, September 08, 2014

Toronto Real Estate Board September report for August 2014 Real Estate Sales results


Good Morning, 

Below is the press release from the Toronto Real Estate Board for the last months sales results

If you wish to see the actual figures, please browse to this page:

http://www.mississauga4sale.com/TREBprice.htm


TORONTO, September 4, 2014 – Toronto Real Estate Board President Paul Etherington reported 7,600 sales through the TorontoMLS system in August 2014. This result was up by 2.8 per cent compared to 7,391 transactions reported in August 2013. Year-to-date sales through the end of August amounted to 65,454, which represented an increase of 6.5 per cent compared to the same period in 2013.

“The last full month of summer ended on a high note. As we look toward the fall market, I expect that demand for ownership housing will remain strong. Home buyers will continue to benefit from a diversity of affordable home ownership opportunities throughout the GTA. The fact that sales were up for all major
home types in August suggests that first-time buyers and existing home owners remain very active in today’s marketplace,” said Mr. Etherington.

The average selling price in August 2014 was $546,303 – up 8.9 per cent in comparison to the average of $501,677 reported in August 2013. The year-to-date average price through August was $562,504, which represented an increase of 8.5 per cent in comparison to the same period in 2013.

“The number of listings in August was down in comparison to last year, while the number of sales increased. This means that sellers’ market conditions remained in place with a lot of competition between buyers. This is why we continued to see strong price growth last month. Looking forward, if sales growth
continues to outstrip listings growth, the average selling price should continue to increase on a year-overyear basis,” said Jason Mercer, TREB’s Director of Market Analysis.

This is the actual report from TREB


Annual Growth in Home Sales Continued in August

TORONTO, September 4, 2014 – Toronto Real Estate Board President Paul Etherington reported 7,600 sales through the TorontoMLS system in August 2014. This
result was up by 2.8 per cent compared to 7,391 transactions reported in August 2013.

Year-to-date sales through the end of August amounted to 65,454, which represented an increase of 6.5 per cent compared to the same period in 2013.
“The last full month of summer ended on a high note. As we look toward the fall market, I expect that demand for ownership housing will remain strong.

Home buyers will continue to benefit from a diversity of affordable home ownership opportunities throughout the GTA. The fact that sales were up for all major home types in August suggests that first-time buyers and existing home owners remain very active in today’s marketplace,” said Mr. Etherington.

The average selling price in August 2014 was $546,303 – up 8.9 per cent in comparison to the average of $501,677 reported in August 2013.

The year-to-date average price through August was $562,504, which represented an increase of 8.5 per cent in comparison to the same period in 2013.

“The number of listings in August was down in comparison to last year, while the number of sales increased. This means that sellers’ market conditions remained in place with a lot of competition between buyers. This is why we continued to see strong price growth last month. Looking forward, if sales growth continues to outstrip listings growth, the average selling price should continue to increase on a year-over-year basis,” 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.comMississauga4Sale.com
  • Thinking of selling your home in the next 3 to 6 months?  Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
    www.mississauga4sale.com/internet-evaluation.htm
  • Power of Sales and Foreclosureswww.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 Real Estate Newsletter sign up
    www.mississauga4sale.com/popupquestion.htm
  • See seasonal housing patternswww.mississauga4sale.com/TREBprice.htm
  • Would you like me to send you a desk or wall Calendar?
    www.mississauga4sale.com/Calendar-Order-Form.htm
 

Wednesday, September 03, 2014

Bank of Canada leaves overnight interest rate at 1% - thus prime rate at your bank will stay at 3%

The Bank of Canada announced today that they are leaving the overnight interest rate (the rate that banks charge other banks to hold their money overnight) at 1% - thus prime rate at your bank will stay at 3%

This is good news if you are thinking of borrowing money

The press release began:

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
Inflation is close to the 2 per cent target and is evolving as the Bank anticipated in its July Monetary Policy Report (MPR). Recent data reinforce the Bank’s view that the earlier pickup in inflation was attributable to the temporary effects of higher energy prices, exchange rate pass-through, and other sector-specific factors rather than to any change in domestic economic fundamentals.
Read more at http://www.bankofcanada.ca/2014/09/fad-press-release-2014-09-03/

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.comMississauga4Sale.com
  • Thinking of selling your home in the next 3 to 6 months?  Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
    www.mississauga4sale.com/internet-evaluation.htm
  • Power of Sales and Foreclosureswww.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 Real Estate Newsletter sign up
    www.mississauga4sale.com/popupquestion.htm
  • See seasonal housing patternswww.mississauga4sale.com/TREBprice.htm
  • Would you like me to send you a desk or wall Calendar?
    www.mississauga4sale.com/Calendar-Order-Form.htm
 

Wednesday, August 27, 2014

Bank of Canada leaves key rate in August 2014 at 3% again!

The Bank of Canada has announced again that they are keeping the prime lending rate at 3%

As expected, the Bank of Canada announced today that it is keeping the benchmark rate unchanged. Great news if you’ve got a variable-rate mortgage; the prime rate stays at 3%.

This is good news for borrows or people with variable rate mortgages

I hope you are enjoying your summer!
Mark


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