January 31st Mortgage Industry Update

January 31st, 2017 Mortgage Industry Update The Bank of Canada announced on January 18th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. CMHC has announced that its rate premiums will rise on March 17th. Many fixed rates are predicted to rise slightly. Additionally this week: - TREB: The average Toronto condo sold for $437,281 in the fourth quarter of last year, up from 2015’s average of $381,981. - CMHC: Markets outside GTA seeing impressive gains as result of ... Read more

January 24th Mortgage Industry Update

January 24th, 2017 Mortgage Industry Update The Bank of Canada announced on January 18th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. CMHC has announced that its rate premiums will rise on March 17th. Many fixed rates are predicted to rise slightly. Additionally this week: - Bank of Canada maintains overnight rate target at 1/2 per cent. Great news for variable rate holders; will be no change in rates! - Urbanation: Average condo rents in last 3 months ... Read more

January 17th Mortgage Industry Update

January 17th, 2017 Mortgage Industry Update The Bank of Canada announced on December 7th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Many fixed rates have risen by 10-30 points due to the new mortgage rule changes. Additionally this week: - Sotheby’s report: 2017 would be the 3rd succeeding year that Toronto will lead Canada in terms of sales volume in the luxury home segment. - Toronto Real Estate Board has launched a petition to stop a land ... Read more

January 10th Mortgage Industry Update

January 10th, 2017 Mortgage Industry Update The Bank of Canada announced on December 7th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Many fixed rates have risen by 10-30 points due to the new mortgage rule changes. Additionally this week: - Canadians came in second place in list of countries that spent most in U.S. properties in 2016; $8.9 billion. Chinese in 1st - with $27.3B. - Ipsos Reid: 79 per cent of first-time home buyers will delay ... Read more
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