October 30th Mortgage Industry Update

October 30th, 2014 Mortgage Industry Update Interest rates are likely to remain steady for the upcoming of the month of November, without any major changes to promotional rates. Additionally this week: - Canada’s homes are getting greener. . - Housing bubble talk shifts to autos. . - Economists expect the US market to see steady but gradual growth in the coming year. . - Canada ranks 8th among top 10 most livable countries. . - Canadians believe they will have to work until they die, ... Read more

October 23rd Mortgage Industry Update

October 23rd, 2014 Mortgage Industry Update Interest rates are likely to remain steady for the remainder of the month of October, without any major changes to promotional rates. Additionally this week: - The Toronto Star published an interesting article stating that developers are shifting sights to two-bedroom condos. . - The Bank of Canada kept the lending rate at 3%! - The Vancouver Sun is stating that major Canadian markets, including Toronto, will continue to be "hot" through 2015. . - US housing market continues ... Read more

October 16th Mortgage Industry Update

October 16th, 2014 Mortgage Industry Update One of our main lenders decreased their 5 year variable interest rate to 2.20%!!! There is a possibility some lenders will follow, for the month of October. Additionally this week: - Canadian homeowners paying down mortgages faster than thought: CIBC. . - Despite a positive year-over-year result, national home sales were down in September; the first monthly decline since January. - CEO of Scotiabank says that concerns over a housing bubble are overblown and the word ‘bubble’ is overused. . ... Read more

October 9th Mortgage Industry Update

October 9th, 2014 Mortgage Industry Update One of our main lenders decreased their 5 year variable interest rate to 2.20%!!! There is a possibility some lenders will follow, for the month of October. Additionally this week: - Yahoo Finance released an article sharing the top 4 things people pay more to live near. . - Two lenders changed their promotional rates as follows: 5 year fixed promotional rate to 2.94% (before: 2.89%), 5 Year Variable rate to 2.35% Prime-0.65%. - The Globe And Mail stated that ... Read more

October 2014 Industry Stats

October 2014 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on October 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 from 69,900 (August 2013) to 52,600 (August 2014) The average MLS resale price in Toronto increased from $503,094 (August 2013) to $546,303 ... Read more

October 2nd Mortgage Industry Update

October 2nd, 2014 Mortgage Industry Update One of our main lenders decreased their 5 year variable interest rate to 2.20%!!! There is a possibility some lenders will follow, for the month of October. Additionally this week: - The Toronto Star released an article stating the GTA is expected to lead country in luxury home sales. . - A new poll stated that GTA homebuyers are choosing convenience over size. . - First-time homebuyers are feeling the weight of Canada's housing boom. . - The ... Read more
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