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Dear Friends,
Greetings! I'm sending you this electronic newsletter with hopes to keep you updated with current real estate market and mortgage rates.
If you're thinking of making a move, or are just curious as to real estate trends in your area, please feel free to call me anytime at my Cell. 416-917-6787, or email me at franleemail@yahoo.com. It's always good to hear from you! |
| Real Estate Market |
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Two New Records Set In First Two Weeks Of December
19 December 2007
The Greater Toronto resale home market reached two new heights during the first half of this month.
The 2,868 transactions recorded during the first two weeks of December have made this the first year that sales have exceeded 90,000.
This activity also represents a 3% increase over the 2,783 sales recorded during the first two weeks of December 2006.
This year's record activity has been matched by record prices.
The average price is now $404,707, which is the first time it has exceeded $400,000.
The current average price has increased 3% since last month and 19% compared to the same timeframe a year ago.
The two new precedents set in the last two weeks is certainly positive news. It's shaping up to be a busy holiday season for homebuyers and sellers alike. |
| News |
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Ontario Expands Land Transfer Tax Refund Program
December 13, 2007
The McGuinty governement is giving all first-time homebuyers a break on land transfer tax by proposing to expand the Land Transfer Tax Refund Program to include purchases of resale homes.
Expanding this Land Transfer Tax refund is an important part of the government's commitment to helping Ontarians buying their first home.
Effective midnight tonight, first-time buyers of resale homes, as well as newly constructed homes, would be elligible for a refund from the provincial government of up to $2,000 of the Land Transfer Tax paid.
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| Mortgage Rates |
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| 2 January 2008
TERM POSTED BEST
1 Year 7.4% 6%
3 Year 7.55% 6.1%
5 Year 7.59% 5.94%
7 Year 7.85% 6.2%
10 Year 8.15% 6.25%
Variable 5.25%
Prime Rate 6%
(Mortgage rates provided by Kim Gibbons, AMP & Mortgage Consultant, Mortgage Intelligence www.dreamplan.ca) |
