|
| | Welcome to the February issue of Mihir's Market Matters Report. The February Flavours are the ongoing low Mortgage Interest Rates. The market has started to pick up if January indications are to be considered. A 2 bedroom, 2 bathroom house (17 foot x 93 foot) in East York sold on the weekend for $525,000. The asking was $487,000 and 8 multiple bidding offers came in. Are you in the market for purchasing a new property. You can refer to the attachment on property tax rates in and around GTA. In regards to the Mortgage Rates, I am able to offer the best rates in the Industry backed with exceptional customer service. RATES AS OF 6TH FEBRUARY 2013 QUICK CLOSE SPECIAL - 2.79% FIXED FOR 5 YEARS VARIABLE - Prime (-0.35%) for 3 YEARS FIXED - 2.89% FIXED FOR 5 YEARS (60 DAYS CLOSING) Thanks Mihir Oza 647-710-7374 Mortgage Agent (License # M11000672) The Mortgage Practice My Motto: Right Advice. First Time, Every Time. Bank of Canada Interest Rate
| December 4, 2012 | 1.00 %
| | January 23, 2013 | 1.00 %
| | March 6, 2013 | Next meeting date
| Source: Bank of Canada
Bank Prime Lending Rate | December 5, 2012 | 3.00 % | | January 24, 2013 | 3.00 %
| | March 7, 2013 | Next meeting date
| Source: Bank of Canada
Conventional Mortgage - 5 Year Rate* | November 21, 2012 | 5.24 %
| | December 19, 2012 | 5.24 %
| | January 23, 2013 | 5.24 %
| Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate
US Federal Reserve Board Discount Rate* | December 11, 2012 | 0.00 % - 0.25 % | | January 30, 2013 | 0.00 % - 0.25 % | | March 20, 2013 | Next meeting date | Source: US Federal Reserve
*US Federal Reserve has indicated it will now keep this rate until unemployment reaches 6.5%
Exchange Rate $CDN($US) | December 31, 2012 | 1.0051 | | January 17, 2013 | 1.0140 | | February 4, 2013 | 1.0014 | Source: Bank of Canada
Government of Canada Bonds | Bond Type | December 19, 2012 | January 9, 2013 | January 23, 2013 | 1 year Treasury Bill
| 1.10% | 1.10% | 1.07% | 3 year Benchmark
Bond Yield | 1.22% | 1.24% | 1.20% | 5 year Benchmark
Bond Yield | 1.40% | 1.44% | 1.40% | 10 year Benchmark
Bond Yield | 1.84% | 1.91% | 1.87% | Source: Bank of Canada
Total New Housing Starts (Seasonally adjusted and annualized) | Province | October
2012 | October
2011 | November
2012 | November
2011 | December
2012 | December
2011 | | Newfoundland/Labrador | 3,400 | 3,500 | 3,700 | 3,900 | 3,800 | 3,000 | | PEI | 800 | 900 | 800 | 1,500 | 1,300 | 800 | | Nova Scotia | 9,400 | 3,300 | 3,200 | 2,800 | 3,200 | 8,500 | | New Brunswick | 3,000 | 3,900 | 3,000 | 3,500 | 2,300 | 3,700 | | Quebec | 43,300 | 44,500 | 48,400 | 47,200 | 42,800 | 50,300 | | Ontario | 69,500 | 73,500 | 59,700 | 54,000 | 78,300 | 71,500 | | Manitoba | 7,300 | 7,600 | 7,300 | 7,500 | 4,700 | 4,900 | | Saskatchewan | 10,900 | 8,400 | 11,900 | 7,200 | 10,000 | 5,900 | | Alberta | 33,600 | 31,600 | 39,700 | 29,900 | 30,000 | 28,300 | | British Columbia | 28,100 | 30,400 | 23,700 | 28,200 | 21,800 | 23,000 | | CANADA | 209,200 | 207,600 | 201,400 | 185,700 | 198,000 | 199,900 | Source: CMHC Housing Now - January 2012 and January 2013. This seasonally adjusted data goes through stages of revision at different times of the year.
Average MLS® Resale Price for Local Markets | City | December 2011 | December 2012 | | Halifax
| $ 254,228 | $ 269,098 | | Saint John
| $ 162,859 | $ 145,445 | | Quebec
| $ 254,652 | $ 258,313 | | Montreal
| $ 319,388 | $ 330,655 | | Ottawa
| $ 335,330 | $ 336,856 | | Toronto
| $ 451,436 | $ 478,739 | | Hamilton/Burlington
| $ 315,940 | $ 336,382 | | Winnipeg
| $ 268,977 | $ 257,719 | | Saskatoon
| $ 304,576 | $ 324,597 | | Regina
| $ 273,919 | $ 317,581 | | Calgary
| $ 392,661 | $ 419,811 | | Edmonton
| $ 315,658 | $ 329,410 | | Vancouver
| $ 689,057 | $ 683,875 | | Victoria
| $ 469,484 | $ 485,945 | Source: Canadian Real Estate Association
Household Credit Growth
 |
|
| | |
No comments:
Post a Comment