November 6th Mortgage Industry Update
November 6th, 2014 Mortgage Industry Update
Interest rates are likely to remain steady for the month of November, without any major changes to promotional rates.
Additionally this week:
– Mississauga real estate lawyer disappears with $3.5M of clients’ money. [fancy_link link_text=”Learn More” url=”http://www.thestar.com/news/crime/2014/11/04/lawyer_missing_along_with_35_million_in_clients_money.html?app=noRedirect” float=”none”].
– PricewaterhouseCoopers and the Urban Land Institute say that mixed use is the future of real estate. [fancy_link link_text=”Learn More” url=”http://www.torontosun.com/2014/11/03/future-of-development-is-mixed-use-report” float=”none”].
– October’s average home sale price was up 9% on a year earlier in Toronto according to figures from TREB. [fancy_link link_text=”Learn More” url=”http://www.thestar.com/business/real_estate/2014/11/05/toronto_house_prices_up_9_per_cent_in_october.html” float=”none”].
– Canadians spend more of their income on housing: study by BlackRock found that for every dollar of income Canadians pay out 43 cents.
– Most markets to see increased prices over next 12 months: CMHC.
– Bank of Canada predicts lower house prices due to oil declines. [fancy_link link_text=”Learn More” url=”http://www.theglobeandmail.com/report-on-business/economy/poloz-low-oil-prices-could-cut-quarter-point-off-gdp-growth/article21372614/” float=”none”].
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.
