May 26th Mortgage Industry Update

May 26th, 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: - Mortgage rates hold steady! - CMHC condo survey reveals 55% of investors anticipate value gains this year in Vancouver and Toronto. Last year, only 48% agreed. - The Canada Mortgage and Housing Corporation will stay as ... Read more

May 19th Mortgage Industry Update

May 19th, 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: - Mortgage rates hold steady! - CIBC poll conducted by Nielsen, found that 47 per cent of Canadians would prefer a medium-term (three-to-five-years) mortgage term. - Panel of leading real estate market analysts argues that fixed rates ... Read more

May 12th Mortgage Industry Update

May 12th, 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: - Introducing a brand new low mortgage rate of 2.54% for a five year fixed! A Mortgage King exclusive. - Warren Jestin, the chief economist for ScotiaBank, says interest rates won’t rise, possibly until the end ... Read more

May 2015 Industry Stats

May 2015 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on May 5th, 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 4.64% The Government of Canada Bonds are rising. The number of housing starts increased significantly from 39,000 (March 2014) to 62,700 (March 2015), a 60.7% increase The average MLS resale price in Toronto increased from $557,684 (March 2014) ... Read more

May 5th Mortgage Industry Update

May 5th, 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: - Introducing a brand new low mortgage rate of 2.54% for a five year fixed! A Mortgage King exclusive. - Genworth is expecting unemployment to rise by 7 per cent and house prices to drop by ... Read more
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