Real Estate Curve

Here is a great link to the steady market predictions by CREA upto 2012

http://www.canadianrealestatemagazine.ca/news/item/748-prices-and-sales-will-remain-stable-through-2012-crea

Seller’s Market still in full force with the summer beginning in less than 2 weeks…It doesn’t look like it will slow down in July or August…

Will the interest rates for mortgages increase? We will find out shortly.

Terms Bank Rates Our Rates
6 Month 4.45% 4.40%
1 YEAR 3.60% 2.64%
2 YEARS 3.95% 3.30%
3 YEARS 4.25% 3.52%
4 YEARS 4.89% 3.54%
5 YEARS 5.39% 3.59%
7 YEARS 6.29% 4.79%
10 YEARS 6.65% 4.99%

Rates are subject to change without notice. *OAC E&OE

Prime Rate is 3.00%

Variable rate mortgages from as low as Prime – .80%

Rates based from Dominion Lending Centres Prestige

Houses are flying off the market like hot bread.
Buyers are getting angry with multiple offers.
Sellers are happy for a sellers market, they will sell high, but majority of the time, they still got to buy, remember (You sell high you buy high)

June 2011

Terms Bank Rates Our Rates
6 Month 4.45% 4.40%
1 YEAR 3.60% 2.64%
2 YEARS 3.95% 3.30%
3 YEARS 4.25% 3.52%
4 YEARS 4.89% 3.54%
5 YEARS 5.39% 3.69%
7 YEARS 6.29% 4.79%
10 YEARS 6.65% 4.99%

Rates are subject to change without notice. *OAC E&OE

Prime Rate is 3.00%

Variable rate mortgages from as low as Prime – .80%

Rates based from Dominion Lending Centres Prestige

Terms Bank Rates Our Rates
6 Month 4.45% 4.40%
1 YEAR 3.70% 2.64%
2 YEARS 4.05% 3.30%
3 YEARS 4.55% 3.52%
4 YEARS 5.19% 3.69%
5 YEARS 5.59% 3.89%
7 YEARS 6.49% 4.79%
10 YEARS 6.85% 4.99%

Rates are subject to change without notice. *OAC E&OE

Prime Rate is 3.00%

Variable rate mortgages from as low as Prime – .75%

Rates based from Dominion Lending Centres Prestige

GTA Real Estate Sales Statistics Summarized – April 2011

Year To Date Sales: Down 14%

Active Listings: Down 24%

Year To Date Selling Price: UP 6%

Here is a list of rate you can expect from most mortgage brokers in the greater Toronto area

Terms Bank Rates Our Rates
6 Month 4.45% 4.40%
1 YEAR 3.70% 2.64%
2 YEARS 4.05% 3.40%
3 YEARS 4.55% 3.62%
4 YEARS 5.19% 3.79%
5 YEARS 5.69% 4.09%
7 YEARS 6.49% 4.79%
10 YEARS 6.85% 4.99%

Rates are subject to change without notice. *OAC E&OE

Prime Rate is 3.00%

Variable rate mortgages from as low as Prime – .75%

Terms Bank Rates Our Rates
6 Month 4.45% 4.40%
1 YEAR 3.70% 2.64%
2 YEARS 4.05% 3.40%
3 YEARS 4.55% 3.62%
4 YEARS 5.19% 3.79%
5 YEARS 5.69% 4.19%
7 YEARS 6.49% 4.79%
10 YEARS 6.85% 4.99%

Rates are subject to change without notice. *OAC E&OE
Prime Rate is 3.00%

Variable rate mortgages from as low as Prime – .75%

here is a link to the 7 most effective ways to pay off your mortgage

Current mortgage rate you can get from a mortgage broker

Variable 5 year closed 2.2%—2.5%
1 year — 2.44%
2 year — 2.99%
3 year — 2.90%
4 year — 3.79%
5 year — 3.64%

Mortgage rate to change without notice.

Almost everyone who wishes to purchase their first real estate property needs a mortgage. If you have the cash great, you will not need a mortgage and may not get house insurance; but not getting house insurance will keep you up at night. What will happen to the biggest asset in case of a house fire, a house insurance will cover the cost of (fires, floods, etc). Be wise and protect yourself and your biggest asset get house insurance. Banks require you to get an insurance before you close on your property in order for them to give you the mortgage. Be smart get the right amount of insurance for the right amount of mortgage and the value of the property.

Predictions are set that in 2011 and 2012 house prices will only jump up by 2-3% as oppose to 2010 which had about 5% increase.
The banks are rumored that an increase might happen four times in the next 2 years, let’s hang on to see what will happen.
We are experiencing multiple offer situations in the early 2011, will the spring continue to show a strong sellers market? we will find out…

Year to date we are 14% less in sales.
The year to date selling average price is up 5%
Average days on market went up by 23%

Greater Toronto Area Real Estate Sales Statistics Summarized – September 2010

All These Statistics Are Compared To September 2009…

In September we had 28% More Active Listings

Monthly Solds Is Down By 23%

Year To Date Solds 4% More

Year To Date Average Selling Price is 11% More