Harpreet currently provides his services to all of Southern Ontario whether you are a first time homebuyer, sophisticated real estate investor, or any step in between.

Contact

(416) 795-1919

Search Mortgage Corp. 100-50 Village Centre Place Mississauga, Ontario, L4Z 1V9 License #: 12652

harpreet@searchmortgage.ca

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. [fancy_link link_text=”Learn More” url=”http://www.rebgv.org/sites/default/files/February%202015%20Stats%20Package.pdf” float=”none”].

– Calgary proposes mass rezoning to ease tight rental market. [fancy_link link_text=”Learn More” url=”http://calgaryherald.com/news/local-news/city-takes-proposed-secondary-suite-changes-to-the-public” float=”none”].

– Developer says demand for rentals in Toronto is soaring. [fancy_link link_text=”Learn More” url=”http://business.financialpost.com/2015/02/26/torontos-rental-market-reborn-as-housing-prices-surge-out-of-reach-for-many/” float=”none”].

– Big banks view condo developments as lower risk. [fancy_link link_text=”Learn More” url=”http://business.financialpost.com/2015/02/25/big-banks-boost-condo-financing-even-as-unsold-units-in-toronto-hit-21-year-high/” float=”none”].

– There were minor rate cuts with a few lenders across their 5 year promotional mortgage rates.

– Alberta MLS sales decline in ‘most areas’. [fancy_link link_text=”Learn More” url=”http://calgaryherald.com/business/real-estate/slumping-mls-sales-in-january-hit-most-alberta-real-estate-boards” 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.

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Harpreet Singh

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