September 27th Mortgage Industry Update

September 27th, 2016 Mortgage Industry Update The Bank of Canada announced on September 7th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Almost all fixed rates remain stable ahead of the autumn season. Additionally this week: - Sep 20- John Tory: Conditions that triggered foreigner-driven price increases in Vancouver do not necessarily exist in Toronto at the moment. - As expected, the Federal Reserve held interest rates steady this month – but experts say there could still be ... Read more

September 20th Mortgage Industry Update

September 20th, 2016 Mortgage Industry Update The Bank of Canada announced on September 7th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Almost all fixed rates remain stable ahead of the autumn season. Additionally this week: - Manulife survey: Just 25% of those who rent plan to become home owners in the next 12 months, despite 80% saying it’s their primary goal. - CREA: Overall Canadian home sales fell for the 4th straight month (August) and, at 3.1%, ... Read more

September 13th Mortgage Industry Update

September 13th, 2016 Mortgage Industry Update The Bank of Canada announced on September 7th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Almost all fixed rates remain stable ahead of the autumn season. Additionally this week: - Survey of Employed Canadians by Canadian Payroll Association: Approx. 24% of workforce do not have access to $2,000 in case of an emergency. - StatsCan: Canadian job market rebounded in August, however unemployment rate up to 7.0% compared with 6.9% in ... Read more

September 6th Mortgage Industry Update

September 6th, 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: - Trimart Research Corporation report: Toronto low-rise sales dropped by 27.1% on a year-over-year basis and 38.5% month-over-month in July. - Reuters poll: Real estate prices estimated to grow by an average of 15% (Vancouver) and 22% (Toronto). - Royal LePage survey: Generation Xers most active buyers of recreational ... Read more
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