May 10th, 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:
- CMHC: The trend measure for housing starts in Canada was 195,064 units in April, down slightly from March’s mark of 196,103.
- Statistics Canada said Friday that the national unemployment rate for April remained unchanged at 7.1 per cent.
- CREB: Benchmark value of average ...
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