September 25th Mortgage Industry Update

September 25th, 2014 Mortgage Industry Update Interest rates slightly increased with a few major lenders. The majority of rates remained stable for September thus far, and it is likely they will continue as such for the month of October. Additionally this week: - Bloomberg released an article stating that Toronto is flooded with office space, and this is spurring fears of a new commercial real estate bust. . - Bank of Canada deputy says low interest rates are still needed. . - CMHC says ... Read more

September 19th Mortgage Industry Update

September 19th, 2014 Mortgage Industry Update Interest rates slightly increased with a few major lenders. The majority of rates remained stable for September thus far, and it is likely they will continue as such. Additionally this week: - CIBC's top economist says Toronto and Vancouver’s red-hot housing markets aren’t as ‘insane’ as they look. . - The Huffington Post released an interesting article on Canada's "housing bubble" in select cities. . - Mortgage amounts are increasing more than household incomes. Some are calling for ... Read more

September 12th Mortgage Industry Update

September 12th, 2014 Mortgage Industry Update Interest rates remain steady with major lenders. 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 year fixed rate from 2.59% to 2.34% for a limited time only. This offer ... Read more

September 2014 Industry Stats

September 2014 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on September 9th, 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, with the 10Y slightly declining The number of housing starts increased from 61,500 (July 2013) to 70,300 (July 2014) The average MLS resale price in Toronto increased from ... Read more

September 4th Mortgage Industry Update

September 4th, 2014 Mortgage Industry Update Interest rates remain steady with major lenders. 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 year fixed rate from 2.59% to 2.34% for a limited time only. This offer ... Read more
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