May 2014 Industry Stats
The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on May 2nd, 2014. The major statistics are summarized as follows:
Bank of Canada interest rate remains at 1%
Prime lending rate remains at 3%
The 5Y variable qualifying rate remains at 4.99%
The Government of Canada Bonds have slightly declined
The number of housing starts declined from 37,400 (March 2013) to 35,600 (March 2014)
The average MLS resale price in Toronto increased from $519,879 (March 2013) to $557,684 (March ...