April 29th Mortgage Industry Update
April 29th, 2015 Mortgage Industry Update
The Bank of Canada announced on April 15th 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 stabilizing due to the bond market.
Additionally this week:
- Bloomberg Nanos Index shows an overall increase in sentiment about economy and household finances. Index up to 56.15 (from 56.09 last week).
- Almost all interest rates at major lenders remained stable this week.
- Toronto ...
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April 23rd Mortgage Industry Update
April 23rd, 2015 Mortgage Industry Update
The Bank of Canada announced on April 15th 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 stabilizing due to the bond market.
Additionally this week:
- The Bank of Canada governor Stephen Poloz in New York said " that the 0.25% cut has seem to done its job." Strong hint there will be no further cuts.
- There were minor rate ...
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April 16th Mortgage Industry Update
April 16th, 2015 Mortgage Industry Update
The Bank of Canada announced on April 15th 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:
- The Bank of Canada announced that there will be no change to its overnight lending rate!
- There were minor rate cuts with a few lenders across their 1, 3, and 5 year ...
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April 9th Mortgage Industry Update
April 9th, 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:
- CMHC and Genworth announce higher premiums for risky loans. Buyers with less than 10% downpayment will pay 15% more for their insurance from June 1 2015.
- Condo owners struggling with insurance. .
- ...
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April 2015 Industry Stats
April 2015 Industry Stats
The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on April 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 4.74%
The Government of Canada Bonds have declined slightly
The number of housing starts decreased significantly from 60,200 (February 2014) to 44,900 (February 2015), a 25% decrease
The average MLS resale price in Toronto increased from $553,193 (January ...
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April 2nd Mortgage Industry Update
April 2nd, 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:
- Could Amazon’s new venture benefit mortgage, real estate agents? .
- Poll by CIBC reveals that more Canadians are opting to lock in monthly payments, betting that mortgage rates won’t fall in the ...
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