July 26th Mortgage Industry Update

July 26th, 2016 Mortgage Industry Update The Bank of Canada announced on July 13th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Most fixed rates have stabilized. Additionally this week: - BILD: GTA Low rise homes have more than doubled in price in the past decade; average appreciation in past year= $100,000, price = $887,543. - New Zealand’s central bank taking aim at investors by jacking the required down payment for an investment home to 40% to ... Read more

July 19th Mortgage Industry Update

July 19th, 2016 Mortgage Industry Update The Bank of Canada announced on July 13th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Most fixed rates have stabilized. Additionally this week: - B.C. government announced that overseas nationals bought approximately 5 per cent of homes in the province over just 19 days last month. - Bank of Canada: Household spending, real gross domestic income, GDP all expected to increase. House prices expected to rise in Toronto, Vancouver. - Royal LePage: ... Read more

July 12th Mortgage Industry Update

July 12th, 2016 Mortgage Industry Update The Bank of Canada announced on May 25th 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: - Introducing a new 5 year variable promotional low rate of 2.25%!!! - TREB: As of June 2016, average sale price of a detached house in Toronto stood at $979,445, spike from $816,583 the same month last year. - Statistics Canada: National unemployment rate fell to ... Read more

July 5th Mortgage Industry Update

July 5th, 2016 Mortgage Industry Update The Bank of Canada announced on May 25th 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: - Introducing a new 5 year variable promotional low rate of 2.25%!!! - Toronto's house prices swelled to new heights, with the average price of a home in the GTA growing by 18.6% year-over-year to $734,924. - Statistics Canada: Economy grew in April by 0.1 per ... Read more
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