August 28th Mortgage Industry Update

August 28th, 2014 Mortgage Industry Update Interest rates slightly decreased with a major lender. Promotional rates for 5 year fixed products slightly declined for a limited time. Often we see a domino effect when it comes to lenders changing rates as they feel the need to remain competitive in the mortgage market. As this effect was observed through the month of August, interest rates for the month of September are likely to stable off. Additionally this week: - TD Canada Trust decreased their 2 ... Read more

August 21st Mortgage Industry Update

August 21st, 2014 Mortgage Industry Update Interest rates slightly decreased with a few major lenders. Promotional rates for 2 year, 3 year, and 5 year fixed products slightly declined for a limited time. Often we see a domino effect when it comes to lenders changing rates as they feel the need to remain competitive in the mortgage market. This may serve as a reason for a possible small interest rate decline between some lenders for the month of August. Additionally this week: - ... Read more

August 15th Mortgage Industry Update

August 15th, 2014 Mortgage Industry Update Interest rates slightly decreased with a major lender as promotional rates declined from 2.99% (5Y fixed) to 2.89%. Often we see a domino effect when it comes to lenders changing rates as they feel the need to remain competitive in the mortgage market. This may serve as a reason for a possible small interest rate decline between some lenders for the month of August. Additionally this week: - CMHC forecast indicates a soft landing for the housing ... Read more

August 2014 Industry Stats

August 2014 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on August 8th, 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% The Government of Canada Bonds maintain their overall position The number of housing starts decreased slightly from 62,300 (June 2013) to 57,800 (June 2014) The average MLS resale price in Toronto increased from $531,374 (June 2013) to ... Read more

August 7th Mortgage Industry Update

August 7th, 2014 Mortgage Industry Update Interest rates slightly decreased with a few major lenders as promotional rates declined from 2.99% (5Y fixed) to 2.94%. Often we see a domino effect when it comes to lenders changing rates as they feel the need to remain competitive in the mortgage market. This may serve as a reason for a possible small interest rate decline between some lenders for the month of August. Additionally this week: - Almost 40 per cent of Canadian buyers ... Read more
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