March 28th Mortgage Industry Update

March 21st, 2017 Mortgage Industry Update The Bank of Canada announced on March 1st 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: - CIBC: GTA condo prices rose by close to an annualized 16% in the fourth quarter of 2016—the largest gain since the recovery year of 2010. - Ontario Finance Minister Charles Sousa urging ... Read more

March 21st Mortgage Industry Update

March 21st, 2017 Mortgage Industry Update The Bank of Canada announced on March 1st 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: - Statistics Canada: Mortgage borrowing up $1.2B to $18.9B in Q4 2016 while non-mortgage borrowing up $8.5B quarter-above-quarter to $9.5B. - Year-over-year basis, home prices across Canada up by 13.4% in February, the ... Read more

March 14th Mortgage Industry Update

March 14th, 2017 Mortgage Industry Update The Bank of Canada announced on March 1st 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: - The price of new houses in Canada increased by 0.1 per cent in January compared to December and were up 3.1 per cent year-over-year. - Value of residential construction permits issued by ... Read more

March 7th Mortgage Industry Update

March 7th, 2017 Mortgage Industry Update The Bank of Canada announced on March 1st 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: Average price of homes sold in the Greater Toronto Area last month soared 27.7% compared with a year ago. - Greater Vancouver Real Estate Board: Residential sales totalled 2,425 in February, ... Read more
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