Sunday, October 21, 2012

Canada Mortgage Rates - October 2012

Current Canadian Mortgage Rates

(With last date of rate change)

Mortgage
Term
Current *
Rates (%)
Previous
Rates (%)
Change (%)Last Date
of Change
Variable2.802.600.20SEPT 20, 2012
Open5.996.30-0.31SEPT 20, 2012
1 year2.492.390.15SEPT 20, 2012
22.592.39-20SEPT 20, 2012
32.692.64.04SEPT 20, 2012
42.992.990.00SEPT 20, 2012
52.992.84.15SEPT 20, 2012
73.593.69-0.10SEPT 20, 2012
103.893.890.00SEPT 20, 2012
159.259.250.00SEPT 20, 2012
189.259.450.20SEPT 20, 2012
259.359.450.10Jan 16, 2012
HELOC3.003.00-.50SEPT 20, 2012
***All rates are subjected to change without notice*** O.A.C

Are you looking to arrange a new mortgage or renew your existing mortgage? Call us to ensure you get the best rate on the market. With access to over 70 lenders and major banks, we guarantee to find you the best rate. Call us at 416-856-5408 or email us at aprasoulis@trebnet.com.

Thursday, October 4, 2012

Commercial Market Report October 2012

October 3, 2012 -- Toronto Real Estate Board (TREB) Commercial Division Members reported lease transactions accounting for almost 3.5 million square feet of industrial, commercial/retail and office space during the Third Quarter of 2012. This result was down from slightly more than 3.7 million square feet leased in the Third Quarter of 2011.
The year-over-year change in average lease rates was mixed. Based on transactions for which pricing was disclosed, the average industrial lease rate was up compared to last year whereas average commercial/retail and office lease rates were down.
“The industrial market segment accounted for almost three-quarters of total leased space in the Third Quarter. Average lease rates were up for all industrial size categories reported by TREB. If growth in average industrial lease rates continues in the Fourth Quarter and into 2013, it would suggest that market conditions are tightening with industrial firms in southern Ontario more confident about future growth,” said TREB Commercial Division Chair Cynthia Lai.
Commercial Division Members reported 214 combined commercial sales in the Third Quarter – down 18 per cent from 262 sales during the same period in 2011. The average selling price was down for all three categories, but a comparison of transactions suggests that the decline was more the result of a different mix of property types sold this year compared to last, especially in relation to commercial/retail and office space.
“The mix of sold office space shifted towards larger properties in the Third Quarter of this year. Generally speaking, larger office properties are associated with a lower price per square foot. As a result, when larger properties account for a greater proportion of total transactions the overall average lease rate tends to dip, all else being equal,” said Lai.
“The dip in the in the average commercial/retail sale price was also driven by sales of larger properties. Last year the mix and use of larger commercial/retail properties sold dictated a higher price compared to this year. For transactions in smaller size categories, average selling prices were more comparable between 2012 and 2011,” continued Lai.
For the full report visit:

Greater Toronto Realtors October Market report

October 3, 2012 -- Greater Toronto Area (GTA) REALTORS® reported 5,879 transactions through the TorontoMLS system in September 2012. The average selling price for these transactions was $503,662, representing an increase of more than 8.5 per cent compared to last year.
The number of transactions was down by 21 per cent in comparison to September 2011. However, it is important to note that there were two fewer working days in September 2012 compared to September 2011. The majority of transactions are entered on working days. On a per working day basis, sales were down by 12.5 per cent year-over-year.
“While sales have been lower due to stricter mortgage lending guidelines, we continue to see substantial competition between buyers. The months of inventory trend remains low from a historic perspective, which explains the strong price increases we are experiencing,” said Toronto Real Estate Board (TREB) President Ann Hannah.
September average selling prices were up compared to last year for all major home types. Price growth was strongest in the City of Toronto, including for condominium apartments with eight per cent year-over-year growth. All benchmark home types included in the MLS® Home Price Index (MLS® HPI) experienced year-over-year price increases, with substantially stronger increases for low-rise home types.
“Barring a major change to the consensus economic outlook, home price growth is expected to continue through 2013. Based on inventory levels, price growth will be strongest for low-rise home types, including single-detached and semi-detached houses and town homes,” said TREB’s Senior Manager of Market Analysis, Jason Mercer.

For the full report visit:
http://www.ilisttorontohomes.com/account/78ab9f8164dfd923/pdfs/sept_market_watch.pdf