March 26th Mortgage Industry Update

March 26th, 2015 Mortgage Industry Update The Bank of Canada announced on March 4th that it's overnight lending rate will remain at 0.75%. The prime lending rate at most lending institutions thus remains at 2.85%. Additionally, most fixed rates are on the decline due to bond market declines. Additionally this week: - Price gap widens between Toronto houses and condos. . - How much income do you need to afford a home in major Canadian Cities? . - Vancouver mayor calls for action on affordability. . - ... Read more

March 12th Mortgage Industry Update

March 12th, 2015 Mortgage Industry Update The Bank of Canada announced on March 4th that it's overnight lending rate will remain at 0.75%. The prime lending rate at most lending institutions thus remains at 2.85%. Additionally, most fixed rates are on the decline due to bond market declines. Additionally this week: - RBC boss defends Canadian housing market; says “feels good”. . - Renovations across Canada boom in response to high prices. . - Realtors warned of dangers from email scams. . - Sotheby’s says that ... Read more

March 2015 Industry Stats

March 2015 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on March 6th, 2015. The major statistics are summarized as follows: Bank of Canada interest rate remains at 0.75% Prime lending rate remains at 2.85% The 5Y variable qualifying rate remains at 4.79% The Government of Canada Bonds have declined slightly The number of housing starts increased from 60,900 (January 2014) to 61,500 (January 2015), a 1.0% increase The average MLS resale price in Toronto increased from $526,528 (January 2014) ... Read more

March 5th Mortgage Industry Update

March 5th, 2015 Mortgage Industry Update The Bank of Canada announced on March 4th that it's overnight lending rate will remain at 0.75%. The prime lending rate at most lending institutions thus remains at 2.85%. Additionally, most fixed rates are on the decline due to bond market declines. Additionally this week: - Vancouver sales surge 60 per cent in February. . - Calgary proposes mass rezoning to ease tight rental market. . - Developer says demand for rentals in Toronto is soaring. . - Big banks view ... Read more
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