January 26th, 2016 Mortgage Industry Update The Bank of Canada announced on January 20th 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 and stabilized, as compared to the end of 2015. Additionally this week: - Statistics Canada released its year-end review for 2015, which showed the country's annual average increase in inflation was 1.1 per cent. - Stats Can: Ontario added 23,000 jobs in December. - Bank of Canada maintains overnight ... Read more

January 19th, 2016 Mortgage Industry Update The Bank of Canada announced on December 2nd 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 and stabilized, as compared to the end of 2015. Additionally this week: - 3 of Canada’s big 5 banks changing predictions to a rate cut on Wednesday. Bloomberg economist survey: 13/27 calling for cut, 14 saying none. - Urbanation’s 2015 Q4 stats: GTA condo apartments rented through MLS ... Read more

January 5th, 2016 Mortgage Industry Update The Bank of Canada announced on December 2nd 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 and stabilized, as compared to the end of 2015. Additionally this week: - CMHC final 2015 housing starts report: Canadian starts down to 203,502 in Dec from 208,204 in Nov. Starts for 2015 up as compared to 2014. Toronto reported a total of 42,287 total starts in ... Read more

January 5th, 2016 Mortgage Industry Update The Bank of Canada announced on December 2nd 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 and stabilized, as compared to the end of 2015. Additionally over the holiday season: - CMHC: Millennials are set to drive growth in Canada’s housing market, perhaps to a greater extent than their parents did. - Poll commissioned by Global News and conducted by Ipsos found that 53 ... Read more