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.


(416) 795-1919

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


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 a federal agency, at least for the next ten years, says Finance minister Joe Oliver

– There have been 5,655 home sales so far this month in the GTA, representing a 9.6 per cent year-over-year increase. Records set to be broken

– In Toronto and Vancouver, condo sales were up 16.1 per cent and 34.4 per cent, year over year, respectively.

– Real estate sales in Ontario up 17.4 per cent year-over-year.

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.


Harpreet Singh

Leave a comment

Your email address will not be published. Required fields are marked *