Greater Toronto Real Estate Market Update

Greater Toronto Area Resale Homes Sales remain high in May

Greater Toronto Area Resale Homes Sales remain high in May

Greater Toronto REALTORS® reported 9,470 sales through the Multiple Listing Service® (MLS®) in May, representing a one per cent dip from May 2009. In comparison to previous years, this was the third highest May sales result on record.

“The pace of transactions slowed in May following record-setting sales in February, March and April,” said Toronto Real Estate Board President Tom Lebour. “Buyers who otherwise would have been purchasing a home in May moved more quickly this year, likely to get ahead of mortgage rate hikes.”

To see the detailed report, please visit my blog at www.aceteamrealty.com/blog

Homebuyers e-Valuate Mortgage Options

Homebuyers e-Valuate Mortgage Options

The 2010 Mortgage Consumer Survey, released recently by Canada Mortgage and Housing Corporation (CMHC), shows that the Internet has become an important resource for first-time homebuyers with 89 per cent indicating that they looked online for mortgage-related information, while 84 per cent researched mortgage terms and conditions before deciding on a mortgage option.

To read more in detail, please click here to visit our blog at:
www.AceTeamRealty.com/blog

Central Bank Rate Hike Not Enough to Worry Mortgage Holders

June 01, 2010 - The Bank of Canada raised its target overnight rate by a quarter of a percentage point to 0.5 percent today, making it the first of the G7 countries to do so. The Bank Rate rose correspondingly to 0.75 percent, with the deposit rate kept at 0.25 percent

Housing and consumer spending in Canada fed a robust 6.1 percent growth in the economy in the first quarter of this year. However, in a media statement released today, the Bank of Canada cited continuing global market instability as a reason for remaining cautious on interest rate increases:
 

Please click here to read the complete story on my Blog

1 Year 3 Years 4 Years 5 Years  5 Years variable
2.64% 3.75% 4.29% 4.19% 1.90%


* Rates may vary provincially and are subject to change without notice.
Rates Last Updated: Wednesday, June 11, 2010.
Buyers and Home Owners should take advantage of this present market conditions. If you are paying high interest Rates on your mortgage or have equity in the house and want to consolidate your debts to reduce your monthly payments, now is the time. If you are thinking of purchasing in next few months, now is the time to apply and get pre-approved and lock-in the lowest interest rates.
 
  
Please call us at 416-618-9753 or visit

 

 

Contact Information

Photo of Manoj Kumar Arora, Broker of Record Real Estate
Manoj Kumar Arora, Broker of Record
Ace Team Realty Inc., Brokerage
10 Kingsbridge Garden Circle, Suite 704
Mississauga ON L5R 3K6
905-488-3101
1-888-355-3155
Fax: 1-888-443-3155
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