Oakville Real Estate | Oakville MLS Listings | Jeremy Taylor | Prudential Town Centre Realty Inc.

Fixed Mortgage Rates to Increase

Thu, 16 Dec 2010 13:58:21 +0000

Hi All,

Here is a mortgage update from my mortgage partners,

The fixed rate increase imminent. As a result in the increase in bond yield the lenders spread has reduced beyond the lower level of the spread forcing fixed interest rates to increase.
While the majority of the banks will increase tomorrow we do still have 3.74% 5 year fixed closed for the time being; it will not last.

· Canadian 5 yr bond yields markets +.09 to 2.58. The spread (based on the 5 yr rate published rate of 3.79%) has fallen out of the comfort zone at 1.21
The rate of return on your bond, can be read through a yield curve, If the increase in bond yield continues to go up, the spread will continue to shrink and this could be a trigger for interest rates to rise. Currently lenders have adjusted the spread they are looking for to be between 1.40 and 1.65

Upcoming Bank of Canada meeting’s scheduled for 2011: January 18, March 1 and April 12

Your Mortgage Team

Tom and Mandy Szucs

Mandy Szucs, AMP | Mortgage Broker
(FSCO Lic M08002843)

Real Mortgage Associates (FSCO Lic 10464)
‘(905) 469-0766 | 6(905) 469-2701 | MandySzucs@RMABroker.ca
www.OakvilleMortgageTeam.com

Santa is Coming to Oakville

Thu, 18 Nov 2010 17:10:53 +0000

Hi All,

It is that time of the year again the Santa is coming to town. Come on out and check out the festivities this coming weekend in Oakville and Milton. In Oakville the annual tree lighting ceremony will be held at the downtown Oakville Square at 7:00 pm on Friday November 19th and then the Annual Santa Clause Parade will be at 9 am on Saturday the 20th running along Lakeshore Blvd.

The Christmas season is always full of wonder and family fun so come on out and support your local community events and have a safe and happy holiday season.

Looking Forward to a Balanced Oakville Real Estate Market

Tue, 16 Nov 2010 18:17:19 +0000

Hi All,

A new story in the news today shows that the Canadian housing market could very well see a very balanced market as we move into the spring of 2011. With the record low interest rates and a short supply of inventory there seems to be some rekindled sprit to the housing market.

What this most likely will mean is that we will see buyer’s and seller’s return to the market for the usually busy spring time. The predictions where for the market to continue to stand still with prices dropping, but now it looks as though we have seen the prices come down and most economists believe that we will not see much more of a decline.

Which I think is good for both buyer’s and seller’s. To read the full story visithttp://www.theglobeandmail.com/report-on-business/economy/housing/housing-set-to-find-even-keel-in-spring/article1799092/

If you are thinking of buying or selling and would like more information on my programs and services please feel free to contact me at (905) 339-5247

Jeremy

The October 2010 Oakville & Milton Real Estate Market

Tue, 09 Nov 2010 17:42:14 +0000

(November 2010 – Oakville – Milton, Ontario) For the month of October 2010, The Oakville,
Milton and District Real Estate Board *total sales transactions were 637, a decrease of 23 per
cent over October 2009. Overall, the 2010 year to date total sales transactions have decreased
when compared to 2009 transactions by a small margin of 2 per cent, supporting the reports that
an above average of transactions took place in the beginning of 2010. In October, new listings
are still coming onto the market and inventory is up by 4 per cent when compared to 2009.
“Simply put, buyers are being cautious and they are just not rushing out to purchase that new
home. As mentioned in a prior release, we experienced a rush at the beginning of the year and
now with more uncertainty with the economy and the looming issues our American neighbours
are experiencing, people are stepping back and watching,” states The Oakville, Milton and District
Real Estate Board President, Jeff Mahannah. “There isn’t the same urgency in the marketplace
and I don’t anticipate that housing demands or prices will take off in the next year, nor do I see
any drastic adjustments.”
The total value of sales processed through the Board MLS® System declined in the month of
October, but overall year to date we are still seeing a healthy increase. The Oakville, Milton and
area resale market reported $245,981,301 in **total dollar volume of sales for October 2010, a
decrease of 29 per cent compared to 2009, but on a cumulative year to date basis, there was a 8
per cent increase, according to Multiple Listing Service® (MLS®) statistics released by The
Oakville, Milton and District Real Estate Board.
Residential resales in Oakville for October 2010 are down by 34 per cent over October 2009, as
well as both the average and median sale prices. The average residential resale price shows an
8 per cent decrease and the median is recorded at 4 per cent lower. Notable is that 19 per cent
of the sales in Oakville were $1,000,000+ compared to 10 per cent in 2009, which suggests that
the luxury market in Oakville is still performing well. The average sale price is $550,636 the
median price is $464,950.
Milton’s sales are down by 28 per cent when compared to October 2009, but consistently the
average and median prices continue to rise. The increase in the average residential resale price
was 7 per cent, being recorded at $379,843. The median sales price was $357,250, an increase
of 6 per cent when compared to October 2009.
Year to date residential sales in Milton and Oakville show respectively, 4 and 5 per cent
decreases when compared to 2009; but comparing 2010 October sales to 2008 sales, we witness
an 11 per cent increase for Oakville and 40 per cent increase in Milton which speaks to the
ongoing and long-term health of the market.
“As expected, we are witnessing a period of correction,” states Mahannah. “Buyers are looking for
value so prices may have to be adjusted and resales may fall short, but the market will start
moving again as we enter 2011″.

Source: The Oakville, Milton and District Real Estate Board

If you are thinking of Buying or Selling and would like to discuss the market conditions please feel free to leave a comment or contact me directly at (905) 337-7001

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Thu, 04 Nov 2010 23:22:24 +0000

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