November 29th Mortgage Industry Update

November 29th, 2016 Mortgage Industry Update The Bank of Canada announced on October 19th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Many fixed rates have risen due to the new mortgage rule changes. Additionally this week: - The Licensing and Standards Committee: Recommending City Council approve new by-laws for rental apartments that would require licensing. - Over past year, average price of Ontario homes has swelled by more than $88,000, translating to growth rate of around $2,000 ... Read more

November 22nd Mortgage Industry Update

November 22nd, 2016 Mortgage Industry Update The Bank of Canada announced on October 19th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Many fixed rates have risen due to the new mortgage rule changes. Additionally this week: - Canada Mortgage and Housing Corp. says its stress testing shows it will be able to withstand even the most extreme economic scenarios. - CREA: Canadian real estate markets have seen a record-breaking 42,473 sales last month, up by approximately 2 ... Read more

November 15th Mortgage Industry Update

November 15th, 2016 Mortgage Industry Update The Bank of Canada announced on October 19th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Fixed rates are predicted to slightly rise due to the new mortgage rule changes. Additionally this week: - Ontario doubling the rebate on land-transfer tax for first-time homebuyers to $4,000, but increasing same tax on homes over $2 million. - Genworth’s CEO: Homeowners could be facing mortgage insurance price increases next year by around 15 per ... Read more

November 8th Mortgage Industry Update

November 8th, 2016 Mortgage Industry Update The Bank of Canada announced on October 19th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Almost all fixed rates remain stable at this point despite new recent mortgage rule changes. Additionally this week: - CBRE’s 2016 Scoring Canadian Tech Talent report: Toronto leads the way with markets expected to see tech industry growth in the near future. - London-based think tank Legatum Institute ranks Canada as world’s fifth most prosperous. - Premier ... Read more

November 1st Mortgage Industry Update

November 1st, 2016 Mortgage Industry Update The Bank of Canada announced on October 19th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Almost all fixed rates remain stable at this point despite new recent mortgage rule changes. Additionally this week: - Federal government ran a deficit of $2.7 billion in August compared with a deficit of $2.3 billion in the same month last year. - Urbanation report: Foreign buyers (5% of sales) play limited part in condo sales ... Read more
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