August 25th Mortgage Industry Update

August 25th, 2015 Mortgage Industry Update The Bank of Canada announced on July 15th that it's overnight lending rate will be cut to 0.50%. The prime lending rate at most lending institutions thus decreased to 2.70%. Additionally, most fixed rates remain stable. Additionally this week: - Economist Magazine: For 5th year, Canada takes 3 of top 5 spots in annual ranking of world’s most livable cities. 3) Vancouver, 4) Toronto, 5) Calgary - RBC forecasts rising interest rates will see real estate sales drop ... Read more

August 18th Mortgage Industry Update

August 18th, 2015 Mortgage Industry Update The Bank of Canada announced on July 15th that it's overnight lending rate will be cut to 0.50%. The prime lending rate at most lending institutions thus decreased to 2.70%. Additionally, most fixed rates are rumoured to decrease in due time, as the overnight rate influences the bond market. Additionally this week: - PM Stephen Harper announced that re-elected Conservative party will increase Home Buyers’ Plan withdrawal limit from $25,000 to $35,000. - Expansion of Highway 407, from ... Read more

August 11th Mortgage Industry Update

August 11th, 2015 Mortgage Industry Update The Bank of Canada announced on July 15th that it's overnight lending rate will be cut to 0.50%. The prime lending rate at most lending institutions thus decreased to 2.70%. Additionally, most fixed rates are rumoured to decrease in due time, as the overnight rate influences the bond market. Additionally this week: - Another record set for Toronto home sales in July, up 8% vs. July 2014; however detached home price dropped below $1M first time in ... Read more

August 4th Mortgage Industry Update

August 4th, 2015 Mortgage Industry Update The Bank of Canada announced on July 15th that it's overnight lending rate will be cut to 0.50%. The prime lending rate at most lending institutions thus decreased to 2.70%. Additionally, most fixed rates are rumoured to decrease in due time, as the overnight rate influences the bond market. Additionally this week: - CMHC announced Monday that from September 28 it will allow 100% of the rental income from a secondary unit to be considered for new ... Read more
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