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. Learn More.

– Bank of Canada deputy says low interest rates are still needed. Learn More.

– CMHC says there is no need to have fear over a suspected “housing bubble”. Learn More.

– BMO Fall Home-Buying Report states that nearly half of prospective buyers are increasing their price to $483,397 and shifting to semi-detached homes. Learn More.

– TREB reports GTA realtors MLS housing figures. Sales and price looking strong. Learn More.

Stay tuned for the next update!

For any questions and concerns please do not hesitate to call Harpreet Singh The Mortgage King at (416) 795-1919.

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