RBC reports Canada at the end of the great recession

RBC reports Canada at the end of the great recession

This is the latest from the RBC on our recession, or at least the end of it. This should come as good news. It's been about 14 months since our market entered the recession

The end of the great recession


Through the ups and downs in the economic numbers, one point is becoming increasingly clear — the great recession of 2008-2009 has come to an end. Most major economies we track have posted at least one positive quarterly growth rate with the lone holdout — the United Kingdom — posting another decline in the third quarter but on course to post a decent-sized gain in the final quarter.

However, the recovery so far has come in on the soft side as the unravelling of financial market leverage continues and economies grapple with high levels of unemployment. The enormous amount of stimulus coming from low interest rates and government spending will support an increase in momentum in 2010 but untillabour market conditions improve, central banks are likely to keep
conditions very accommodative.

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?

RBC reports that Canadian Investors still have the jitters

RBC reports that Canadian Investors still have the jitters

RBC reports that investors in Canada still have the jitters. I am one of those, moved all of our rsp's out of the markets into a market linked GIC, now we are guananteed to get our money back in the event that the markets tank and we will get 40% of any improvement in the markets. I guess I'm just getting too close to retirement to take chances with my rsp's

Mark

Investors still have the jitters

Investors appear to be buying into the thesis that the global recession is a thing of the past.

However, they remain very cautious because the economic rebound is proving to be less vigorous than previous recoveries. Any dose of poor financial market news invariably leads investors to scale back their risk positions. As a result, global government bond markets continue to perform well.

Yields on short-term U.S. Treasury bonds stand near record lows, while 10-year rates have fallen back after rising this summer. This pattern was mirrored in the other major markets that we monitor, with central banks expected to hold policy rates low until a durable economic recovery is under way.

We expect rates will remain at extraordinarily low levels for the first half of 2010 and then gradually increase as central banks begin the long process of returning monetary policy to a neutral stance.

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?

Canadian Mortgage Interest rates are still expected to stay low well into 2010

Canadian Mortgage Interest rates are still expected to stay low well into 2010

The interest rates in Canada are expected to stay low at least for the first half of 2010

Bank of Canada expects to increase rates in the second half of 2010

Good news for prime linked mortgages and loans!
Mark


Interest rates “lower for longer”

Our forecast that both Canada and the United States will experience sub-par recoveries means that interest rates will remain relatively low. We forecast that short-term interest rates will start to rise in the second half of next year as central bank rate increases become imminent.

In 2011, our expectation that the Bank of Canada and Fed will kick up the pace of rate increases will see two-year rates move back to their average for this decade.

In the absence of inflation concerns, 10-year rates will also remain low in 2010, however they are forecast to rise in 2011 with the return of above-trend growth and rising inflation 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 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?

Interest rate announcement and variable rates

Hello, this is an interesting discussion about the current interest rate environment.

The Bank of Canada announced this morning that it will maintain its key policy rate at 0.25 (the rate the determines prime rate), therefore, the prime rate remains unchanged at 2.25%, as expected. They also reiterated their commitment to maintain this rate through to the end of June, 2010 after some previous talk that they may look at raising the rate earlier.

When they do start raising the prime rate at start of the third quarter 2010, they are anticipating a 1.75% hike by the end of 2010 which would set the prime rate at 4.00%, and that is just the beginning as we can expect to see further rate increases throughout 2011.


With the inevitable prime rate hikes just around the corner, locking into a 5 year fixed rate makes more sense then ever. While there are stats indicating that the vast majority of the time, home owners have always come out ahead with a variable rate, we are now in an unprecedented time. That being said, history cannot be and should not be considered when making the decision between fixed and variable.

One thing that is certain, is the direction that rates are heading and the precipitous increases that are expected. While most variable rate mortgages can be converted to a fixed rate at any time without penalty, you may be given posted rates in place of discounted rates, should the switch take place.

If you still think a variable rate is for you, then it is important to check with your mortgage professional to find out what the lenders policy is on this. Secondly, fixed rates are determined by different factors then prime rate, so while we know exactly where the prime rate is headed over the next few years, fixed rates are much harder to predict and may start increasing much sooner, and can do so at any time.


With today's lowest available 5 year fixed being 3.68%, it can be difficult to recommend for anyone go with a variable rate, even if they expect to switch to a fixed before the mid-year increases. If you did plan on switching, you would only be able to reap savings for a few months before switching and the fixed rate they would be locking into will almost certainly be quite a bit higher then what is available to you today.

From Paul Meredith www.citycan.com

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 : mark@mississauga4sale.com
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?

Current mortgage interest rates in Ontario

These are the current mortgage interest rates that are available to buyers of real estate in Mississauga, Toronto, GTA Ontario
Enjoy!
Mark

Rate Sheet::

Variable Rate prime minus .15% 2.10% Fixed Rate: 1 yr 2.65% 2 yr 3.30% 3 yr 3.59% 4 yr 3.79% 5 yr 3.89%

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?

Costs for Real Estate License in Ontario

Often I receive emails from people who are thinking about obtaining their real estate license in Ontario. I've created some pages to help people with their decision.

I have a few sections on my website that will give details about licensure and the first section if about costs associated with getting your license, it's about the same anywhere in Ontario.

Start here and read through the 10 pages or so about the costs associated with obtaining your real estate license in Ontario:

http://www.mississauga4sale.com/costs-course-obtaining-my-real-estate-license-Ontario.htm

These are the courses required to obtain your real estate license in Ontario:

http://www.mississauga4sale.com/courses-required-to-get-real-estate-license-in-ontario.htm

These are the 7 Tips for long term success in the real estate business in Ontario

These are the Ten specific Tasks that leading real estate salespeople do to succeed in real estate

Once you have read through these pages, I would be happy to answer any questions you may have.

Here is some information on motivation and universal success secrets

I wish you all the best in everything you do in life!

Mark

A. Mark Argentino, P.Eng., Broker
RE/MAX Realty Specialists Inc.

Bus: 905-828-3434
email: mark@mississauga4sale.com
web: www.Mississauga4Sale.com

Single family residential home prices GTA Toronto Real Estate Board past 10 years

This graph shows the average and median annual single family residential home prices in the GTA Toronto Real Estate Board

A clear trend over the past 10 years is seen.

Real estate is a wise long term investment

Enjoy,

Mark

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?

House Trends in the GTA and Mississauga

The graph on the right will show you recent housing trends in the GTA for the past few years.
Enjoy,
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

Bank of Canada announcement to keep prime rate at .25%

Today the Bank of Canada announced that they will keep interest rates at 0.25% as expected. This means that the Bank of Canada prime rate will remain at an all time low and that the bank prime will remain unchanged at 2.25%

The bank expects to keep it's prime at .25% until the middle of 2010

This will should keep our real estate market humming along at it's current pace.

All the best,
Mark


Bank of Canada Holds Key Rate Steady

As expected by most economists, the Bank of Canada announced this morning that it will leave its key interest rate unchanged at its all-time low. The Bank also reiterated its commitment to hold its key rate at the current level until the end of the second quarter of 2010, conditional on the outlook for inflation. In its statement the Bank noted that “While significant fragilities remain, global economic developments have been slightly more positive and the global outlook has improved modestly.”

Lenders are expected to keep their prime lending rate steady. Variable-rate mortgages, variable-rate credit cards, and home equity lines of credit are typically linked to a lender’s prime rate.

Pricing for fixed-rate mortgages is not directly affected by today’s announcement.

Last 2 years sales prices and volumes in Toronto Real Estate marketplace

This graph shows the average single family residential sales prices and volumes in Toronto Real Estate marketplace for the past 2 years

Enjoy!

Mark

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?