February 23rd Mortgage Industry Update

February 23rd, 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: - BC Finance Minister announced earlier this week a vow to track foreign ownership of properties by requiring buyers to disclose citizenship. - Ipsos Reid poll reveals that almost half of respondents are within $200 a ... Read more

February 16th Mortgage Industry Update

February 16th, 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: - Economist David Rosenberg: Canada’s government needs to inject $50B into economy to help weather collapse in oil prices and stimulate growth. - Bloomberg Nanos Consumer Confidence Index found 13.5% of respondents believed their personal finances ... Read more

February 9th Mortgage Industry Update

February 9th, 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: - CMHC Chief Economist: Housing starts down in January 2016 as compared to December 2015, with the exception of Ontario. - TREB: Sales of homes in GTA increased by 8.2% in January compared to a year ... Read more

February 2nd Mortgage Industry Update

February 2nd, 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: - StatsCan: GDP expanded for first time in 3 months in November on manufacturing and wholesaling rebound; sign economy is shaking off damage. - Housing prices will rise by nearly 10 per cent this year, TREB ... Read more
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