June 30th Mortgage Industry Update

June 30th, 2015 Mortgage Industry Update The Bank of Canada announced on May 27th 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 have stabilized due to the bond market. Additionally this week: - Chief economist of RBC’s asset management division says there is a 35% chance that the BoC will make a further cut in interest rates - New figures from Statistics Canada show that 69 per cent ... Read more

June 23rd Mortgage Industry Update

June 23rd, 2015 Mortgage Industry Update The Bank of Canada announced on May 27th 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 have stabilized due to the bond market. Additionally this week: - CMHC: Repeat buyers who use mortgage brokers up from 32 per cent in 2012 to 42 per cent in 2015. - If the analysts are correct Canada is heading for a new construction boom; in ... Read more

June 16th Mortgage Industry Update

June 16th, 2015 Mortgage Industry Update The Bank of Canada announced on May 27th 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 have stabilized due to the bond market. Additionally this week: - CREA: Home sales were up 3.1 per cent in Canada as Western provinces continue to rebound, a sign that concerns of uncertainty may be easing. - CAAMP survey says 280k first-time homebuyers expected to purchase ... Read more

June 9th Mortgage Industry Update

June 9th, 2015 Mortgage Industry Update The Bank of Canada announced on May 27th 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 have stabilized due to the bond market. Additionally this week: - GTA May sales rose 6.3% y/y with the average price for all types of homes rising 8.9% to $650,000. - Toronto average price of a detached home hits $1.1 million; an 18% increase from last ... Read more

June 2015 Industry Stats

June 2015 Industry Stats The Canadian Association of Accredited Mortgage Professionals (CAAMP) released their new set of statistics on June 4th, 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 have stabled. The number of housing starts remained steady from 65,400 (April 2014) to 64,500 (April 2015) The average MLS resale price in Toronto increased from $557,898 (April 2014) to $635,932 (April ... Read more

June 2nd Mortgage Industry Update

June 2nd, 2015 Mortgage Industry Update The Bank of Canada announced on May 27th 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 have stabilized due to the bond market. Additionally this week: - Mortgage rates hold steady as the Bank of Canada maintains overnight rate target at 3/4 per cent - TREB reports condo sales up in April: jumped 28 per cent - TREB reports record April sales: 17 ... Read more
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