December 4th, 2014 Mortgage Industry Update

As the year ends, we see lenders start to stabilize their interest rates. For this reason, promotional rates are likely to remain the same, as 2014 concludes.

Additionally this week:
– Canadians expect to be debt free on retirement… except for the mortgage. Learn More.

– TD Bank decreases their 5 year fixed promotional mortgage rate to 3.04%, from 3.09%.

– Typical detached home in Vancouver approaches $1 million, something we are likely to see in Toronto’s future. Learn More.

– The Bank of Canada announced it will hold its interest rate at one per cent, despite the economy showing signs of recovery.

– Toronto loses its reputation on the top 10 most reputable cities in the world but Vancouver and Montreal join. Learn More.

– Baby boomers would be happier not downsizing, says expert. Learn More.

– Home ownership is now more affordable, says RBC. 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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