November 24th Mortgage Industry Update

November 24th, 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, almost all fixed rates have climbed ahead of the winter season cool-down. Additionally this week: - Scotiabank poll: 61% of home sellers seek those with a mortgage pre-approval, 69% buyers already likely to have pre-approval. - CMHC: “On December 3, CMHC will release a national report highlighting foreign ownership as part of the HMI ... Read more

November 17th Mortgage Industry Update

November 17th, 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 have started to slightly climb ahead of the winter season cool-down. Additionally this week: - RBC: US Employment up by 5.0% in October. Expectations for the US Federal Reserve to raise fed funds at its December meeting are up. - IMF is advising the US Federal Reserve to hold off on ... Read more

November 10th Mortgage Industry Update

November 10th, 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 have started to slightly climb ahead of the winter season cool-down. Additionally this week: - CMHC: Last month's seasonally adjusted rate of housing starts was 198,065 units, down from 231,304 in September. Average price for an existing home will rise 7.2% to $437,700 in 2015. In 2016 - 1.3% annual ... Read more

November 3rd Mortgage Industry Update

November 3rd, 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 are predicted to slightly climb ahead of the winter season cool-down. Additionally this week: - Andy Yan, Vancouver city planner and researcher: 70% of detached homes in Vancouver’s west side were purchased by buyers from China, or with Chinese roots. - RealNet Canada: Commercial real estate + land investment in GTA ... Read more
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