April 26th Mortgage Industry Update

April 26th, 2016 Mortgage Industry Update The Bank of Canada announced on April 13th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Most fixed rates have also slightly declined. Additionally this week: - TD study: 13% of buyers in Toronto + Vancouver purchased homes in rush for fear of missing out on good picks before becoming too expensive. - BMO study: Currently, around 76 per cent of renting individuals aged 18 to 34 are expecting to buy ... Read more

April 19th Mortgage Industry Update

April 19th, 2016 Mortgage Industry Update The Bank of Canada announced on April 13th 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: National home sales increased 1.5% month-over-month for March, and 12.2% year-over-year. - IMF revised its predictions for Canada’s economic growth rate over the next two years, adjusting the values to 1.5% in 2016 and 1.9% in 2017. - CBRE report: Vacancy rate for downtown Calgary offices ... Read more

April 12th Mortgage Industry Update

April 12th, 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: - Royal LePage report: Trump presidency fears to drive Canada housing growth. - Benchmark prices in Vancouver up by 23.2% on a year-over-year basis last month, while Toronto prices saw an 11.6% increase in same period. - CMHC: Foreign condo ownership in Toronto: 10% of newer buildings (built ... Read more

April 5th Mortgage Industry Update

April 5th, 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: - KPMG: Canada among most competitive countries for businesses based on cost of industry essentials; taxes, labour, facilities, transportation. - National Bank Chief Economist: Toronto + Vancouver price rises being driven by influx of “highly educated immigrants”; wanting best jobs. - We now offer 1 to 5 year ... Read more
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