Fran Lee, Broker
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Ridgegate Community
Central Park on Yonge
Your Trusted Advisor in Real Estate

Your Trusted Advisor in Real Estate

Ontario, Canada


Nothing Great Is Ever Achieved Without Enthusiasm !



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Welcome to my web site, your source of Toronto real estate


Dear Friends,

In today's competitive real estate market, timing is everything.  Many good homes are sold before they are ever advertised. 

If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation.

Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction.

In addition, if you have any general questions about buying or selling real estate in Ontario, please contact me as I'm more than willing to help.

I don't have a PhD degree in rocket science, but I am constantly upgrading my knowledge and expertise in real estate related disciplines and languages to serve you better:

- Licensed under the "Sales Representative" category by the Real Estate Council of Ontario in 1999, and licensed under the "Broker" category since 2001 

- Recipient of RE/MAX Hall of Fame Award in 2010

- Recipient of RE/MAX 100% Club Awards (2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2015, 2016).

- Feature Agent on "Profiles of Success" Toronto East Edition 2008.

- Joined RE/MAX Crossroads Realty Inc. in December 2008, switched to Realty Associates Inc., an affiliate of RE/MAX Crossroads Realty Inc. in October 2017.

- M ember of the Chartered Institute of Linguists designation with Diploma in Translation from English into Chinese awarded by the Chartered Institute of Linguists

Please browse my website for listings, reports and important local real estate information.



Fran Lee


Realty Associates Inc.


Cell.   416-917-6787

Office 416-293-1100


Market Update


September 2, 2022

There were 5,627 home sales reported through the Toronto Regional Real Estate Board's (TRREB) MLS System in August 2022, representing a year-over-year dip of 34.2 per cent 3 a lesser annual rate of decline compared to the previous four months.

The August sales result also represented a month-over-month increase compared to July.

Sales represented a higher share of new listings compared to the previous three months.

If this trend continues, it could indicate some support for selling prices in the months ahead.

On a year-over-year basis, the MLS Home Price Index (HPI) was up by 8.9 per cent and the average selling price for all home types combined was up by 0.9 per cent to $1,079,500.

The average selling price was also up slightly month-over-month, while the HPI Composite was lower compared to July.

Monthly growth in the average price versus a dip in the HPI Composite suggests a greater share of more expensive home types sold in August.


Toronto Regional Real Estate Board


Real Estate Information

Despite falling prices, homes in Canada have never been so unaffordable: RBC

September 29, 2022  


A new study from Royal Bank of Canada says rising interest rates have offset the overall drop in real estate prices. 

It’s never been harder for Canadians to buy a home, as soaring mortgage costs have more than offset the benefits of lower prices, according to Royal Bank of Canada.

Higher interest rates imposed by the Bank of Canada this year have pushed the cost of home ownership to record levels compared to the median household income, RBC economists said in a report Thursday.

That means total ownership costs, including mortgage payments, now soak up 60 per cent of a typical household’s income, higher than the previous record of 57 per cent reached in April 1990.

“The Bank of Canada’s rate-hiking campaign since March has added hundreds of dollars to mortgage payments that come with a home purchase,” RBC economist Robert Hogue wrote. “This, along with the jump in property values during the pandemic, have made it more difficult than ever to become a homeowner in Canada.”

With inflation still at seven per cent, the central bank has indicated it’s not done increasing its policy rate, which has gone from 0.25 per cent to 3.25 per cent. RBC expects it to rise another three-quarters of a percentage point this year.

While the sharp increase in rates has caused national home prices to decline for six straight months, the benchmark home price is still up 44 per cent in the past three years, according to the Canadian Real Estate Association. It was $777,200 in August.

“The sharp housing market correction that began this spring is rolling back some of the spectacular price gains made during the pandemic,” Hogue wrote in his report. “This should help lower ownership costs next year. But the likelihood of further rate hikes from the Bank of Canada is poised to intensify affordability pressures before then.”

So far, Canada’s benchmark home price has fallen 7.4 per cent since its February peak, but RBC expects those declines to come to 14 per cent before they’re over next spring.


- Bloomberg News


Mortgage Rates Update

October 3, 2022 


6 Months 6.34% 6.19%
1 Year 5.69% 4.99%
2 Years 5.59% 5.24%
3 Years 5.59% 5.04%
4 Years 5.79% 5.04%
5 Years 6.14% 4.84%
7 Years 6.40% 5.64%
10 Years   6.65% 5.80%
Prime Rate   5.45%

*Rates are provided by Dominion Lending Centres and are subject to change without notice. 


Mortgage Calculators


Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

The mortgage calculator below will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Required Fields
Estimate Insurance to of Cost
Estimate Tax to of Cost
Optional Fields
Receive Detailed Analysis  Receive this Detailed Analysis

Your Monthly Payments
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Homeowners Insurance:
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Total Monthly Payment:
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Total Monthly Loan Payment:
Total Monthly Debt Payment:
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We are using the % ratio.
Cost of House:
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Cost of House = [(Monthly income x Debt Ratio) –
monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %
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