The last time we had a recession in the GTA real estate market was 1990. The fall in prices began in the spring of 1990 and continued for many years.
The average prices in the GTA did not recover until 2002, 12 years later!We are not predicting or even expecting such a price decline […]

I had another good question from a reader of my blog and I wanted to share my answer with you.

The question was:

Hello,

Just one question. It mentions in the article that the sales volume has decreased by 50%. Are the number of homes up for sale down as well this year, […]

The Bank of Canada surprised us all yesterday morning with deeper cuts than expected as they announced cuts of 3/4 percent. Back in October when the rate was last slashed by 75 basis points (3/4 percent), the lending institutions were sluggish and reluctant to respond with equivalent cuts as they have all been […]

http://www.mississauga4sale.com/newsletter/monthly-mailout.htmDecember Report - Average November price is slightly up compared to previous month price
December 2008 Sales volume down about 50% compared to November 2007

This is what the Toronto Real Estate Board reported for the November sales
Over 3,600 Sales In NovemberDecember 4, 2008 — TREB Members recorded 3,640 sales in November 2008 from the 7,313 […]

The bank of Canada just announced a huge reduction in the prime interest rate. They lowered it by 3/4 of a percent and this will surely have an effect on interest rates charged by the banks.
Go to this page to see the current rates: Interest Rates
Keep checking back for more information,
Mark

Bank of […]

This is a reminder to make sure you have winterized your outside faucets!
Please make sure that the water line that runs to the faucet into the garage and the water line that runs to the faucet at the back of the house is turned off from inside the house. This is critical in the event […]

This is a very good summary about RBC’s comments on how Canada slipped into this economic downturn that we are currently experiencing.It should be very interesting how deep and how long this current slowdown in our economy continuesI hope this finds you happy and healthy!MarkHousing downturn “” Canadian-styleCanadians have watched with amazement for nearly two […]

I received another question that I thought I would post here:

Hi Mark,I found your website interesting and very informative. As I read the first page I was wondering as a first time home owner, if I get an agent in our area to make an offer are the furnace and water tanks considered […]

The table below will outline the current posted and best rates obtainable through specific mortgage brokers that I know.All the best,Mark

TERM
POSTED

Best Achievable
RATES*

6 Month
6.1%
6%

1 Year
5.6%
4.45%

2 Year
6.45%
5.05%

3 Year
6.45%
5.15%

4 Year
6.29%
4.95%

5 Year
6.95%
5.25%

7 Year
7.4%
6%

10 Year
7.75%
6.15%

Variable Rate
4.6%

Prime Rate
4%

* Rates Last Updated: December 06, 2008
Mississauga Real Estate MLS Listings Homes for Sale Post Footer: RSS feed at: http://www.mississauga4sale.com/blog/rss.xml Atom feed: […]

Here are some highlights and thoughts taken out of the latest CMHC report on how our real estate market will perform in 2009It’s interesting to note that CMHC is still predicting growth for next year. All the best,MarkFrom CMHC’s perspective, how do they think the GTA resale residential home market perform in 2009?

Increased resale market […]