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