March 29th, 2016 Mortgage Industry Update The Bank of Canada announced on March 9th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Most fixed rates also remain stable. Additionally this week: - CREA: Regional Municipality of Durham stood out as the locality with the greatest real estate growth; 32% from 2012 to the end of 2015. - Figures from Toronto Real Estate Board showed that benchmark price for all types of homes grew by 14.9% in Feb compared ... Read more

March 22nd, 2016 Mortgage Industry Update The Bank of Canada announced on March 9th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally this week: - Doug Porter, chief economist at BMO, sees further gains for Vancouver and Toronto’s selling season due to low mortgage rates and demand. - U.K. property consultancy report: Vancouver high-end housing is the most sought after in the world, higher than Monaco, Shanghai, Sydney. - Statistics Canada report: Mortgage growth has spurred the ... Read more

March 15th, 2016 Mortgage Industry Update The Bank of Canada announced on March 9th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally this week: - Statistics Canada: Employment in Canada was almost unchanged in February, as the country lost 2,300 jobs. National UE rate up to 7.3% - Ombudsman for Banking Services & Investments annual report: Mortgage prepayment penalties among top 5 most complained about banking issues. - Toronto Real Estate Board revealed that home resales in ... Read more

March 8th, 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: - TREB: Transaction volume in Toronto went up by 21.1% in February compared to last year. New down payment changes not having effect. - Most analysts are not expecting a cut on Wednesday with the Bank ... Read more

March 1st, 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: - Reuters study polled 24 economists and housing market analysts, who predicted house price hikes of 3.3% in 2016, 1% in 2017, 2% in 2018. - Angus Reid Institute found that 32% of Canadians overall believe ... Read more