February 28th Mortgage Industry Update

February 28th, 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: - Fitch Ratings predicted that Canadian mortgage rates will remain at record-low levels for the first six months of this year. - BILD: A new record has been set in the Greater Toronto ... Read more

February 21st Mortgage Industry Update

February 21st, 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: - Fitch Ratings: Federal and local policy changes to cool housing markets will see price appreciation slow to 3% in 2017, from 12% last year. - Teranet-National Bank Composite House Price Index: Toronto ... Read more

February 14th Mortgage Industry Update

February 14th, 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: - Pollara study: Canadians withdrawing larger amounts from RRSPs to cope with the consistent growth of home prices in country’s major cities. - Statistics Canada: Canada is once again the fastest growing country ... Read more

February 7th Mortgage Industry Update

February 7th, 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: Foreign buyers involved in approx 4.9% of transactions in 2016 to November. Implementing Vancouver-like tax rules “misguided”. - Genworth CEO: Recent changes to mortgage regulations have negatively impacted first-time buyers, there ... Read more
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