September 29th Mortgage Industry Update

September 29th, 2015 Mortgage Industry Update The Bank of Canada announced on September 9th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, most fixed rates remain stable. Additionally this week: - Business Insider: Starbucks to lend its UK staff 0% interest loans to help them put down payments on homes, since affordability in the UK is minimal. - First National, and TD Bank increase their promotional variable rate to 2.20% (Prime-0.50%). - TD Bank releases interest rate ... Read more

September 22nd Mortgage Industry Update

September 22nd, 2015 Mortgage Industry Update The Bank of Canada announced on September 9th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, most fixed rates remain stable. Additionally this week: - BMO survey suggests 24% of Canadians have little/nothing in emergency fund. Roughly 56% have less than $10,000 saved for unexpected expenses. - CREA: housing prices in the Hamilton area have jumped 16.6% over the past year, the biggest jump in any real estate market in ... Read more

September 15th Mortgage Industry Update

September 15th, 2015 Mortgage Industry Update The Bank of Canada announced on September 9th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, most fixed rates remain stable. Additionally this week: - Fitch Ratings says that investors in Europe and the US are buying Canadian mortgage-backed covered bonds in record amounts so far this year. - New report reveals that 1 in 5 Canadian renter households are spending more than half their income on rent payments. - Liberals ... Read more

September 8th Mortgage Industry Update

September 8th, 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: - The unemployment rate increased 0.2 percentage points to 7.0% in August, as more people searched for work, reported StatsCan. - Poll of 40 economists by Reuters reveals that the financial experts are not forecasting any rise in interest ... Read more

September 1st Mortgage Industry Update

September 1st, 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: - Recent stock market turmoil causing speculation that the US Fed will push its planned rate hike to a later date. - Increased interest generating from American lenders for mortgages in Canada, due to the low dollar. Great upside ... Read more
css.php