October 27th Mortgage Industry Update

October 27th, 2015 Mortgage Industry Update The Bank of Canada announced on October 21st 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: - Conference Board of Canada: Fraser Valley, Toronto, Oshawa, Hamilton, Sherbrooke expected to see largest short-term MLS price increases. - “Canadian interest rates have bottomed. Most particularly, mortgage rates have bottomed,” says Dr. Sherry Cooper, economist. - Many arguing CHMC should be a non-profit organization that should ... Read more

October 20th Mortgage Industry Update

October 20th, 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: - RealtyTrac: Q3 US bank repossessions up 3%. Marks second quarter in a row that saw increased foreclosure activity after 19 quarters of drops. - TREB: Condo sales in the Greater Toronto Area have increased by almost 11 per cent year-over-year during the third quarter of ... Read more

October 13th Mortgage Industry Update

October 13th, 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: - TD Bank forecast for interest rates: Bank of Canada overnight rate expected to remain at 0.5% until 2017, then slowly rise to 3% by 2019. - Liberals want to eliminate GST on all new rental builds in Canada while giving $125M/year to landlords renovating aging ... Read more

October 6th Mortgage Industry Update

October 6th, 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: - GTA sales hit new record for September. TREB says that 8,200 homes were sold in the month, 2.5 per cent higher than a year earlier. - Real Capital Analytics: Canadians bought US $3.85 billion of property in America’s largest city - New York, more than ... Read more
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