July 31st, 2014 Mortgage Industry Update Firstly, I’d like to start off this week’s update with some inquires I had regarding financing purchases in America. Since it was a common concern this week from a few of my partners, I’d like to address it as a whole as I feel many people would be able […]
July 24th, 2014 Mortgage Industry Update Interest rates this week remained the same. No major changes were observed and interest rates are likely to remain stable for the month of July. Additionally this week: Some major lenders reduced their lending criteria slightly, allowing a easier borrowing process Royal Lepage reported that a limited supply of […]
July 16th, 2014 Mortgage Industry Update Interest rates this week remained the same. No major changes were observed and interest rates are likely to remain stable for the month of July. Additionally this week: The Bank of Canada maintained its overnight interest rate at 1%. The Canadian housing market beat expectations with resales going up […]
July 9th, 2014 Mortgage Industry Update Interest rates this week remained the same. No major changes were observed and seems like the beginning of July has got off to a smooth start. Interest rates are likely to remain stable for the month of July. Additionally this week: CMHC released the number of housing starts for […]
July 2014 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on June 3rd, 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 4.79%, a drop from earlier […]