May 30th Mortgage Industry Update

May 30th, 2017 Mortgage Industry Update The Bank of Canada announced on May 24th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Both fixed and variable rates are generally stable within the market at this point in time. Additionally this week: - Jones Lang LaSalle study: Commercial tenants in Toronto could see rents spike up by as much as 50 per cent over the next 36 months. - Lakelands Association: Waterfront property sales in Muskoka, Haliburton, Orillia up ... Read more

May 23rd Mortgage Industry Update

May 23rd, 2017 Mortgage Industry Update The Bank of Canada announced on April 12th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Both fixed and variable rates are generally stable within the market at this point in time. Additionally this week: - JLL Canada: Toronto commercial rents set to rise sharply due to rising demand, influx of highly-skilled workers, shortage of new buildings. - RBC Economics: Surge in new listings in the GTA in April may be ... Read more

May 16th Mortgage Industry Update

May 16th, 2017 Mortgage Industry Update The Bank of Canada announced on April 12th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Both fixed and variable rates are generally stable within the market at this point in time. Additionally this week: - Moody’s Investors Service downgrades Canada’s big 6 banks rating over increased anxiety surrounding elevated household debt + housing prices - Chestnut Park Real Estate: Toronto exhibited almost double number of sales of high-end homes ($3M+) in ... Read more

May 9th Mortgage Industry Update

May 9th, 2017 Mortgage Industry Update The Bank of Canada announced on April 12th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Both fixed and variable rates are generally stable within the market at this point in time. Additionally this week: - Federation of Rental-housing Providers of Ontario survey: Recent policy changes have massively delayed development of 20k planned new units. - TREB: Average price for a Toronto-area home rose to $920,791 in April and its price index ... Read more

May 2nd Mortgage Industry Update

May 2nd, 2017 Mortgage Industry Update The Bank of Canada announced on April 12th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Both fixed and variable rates are generally stable within the market at this point in time. Additionally this week: - CMHC's latest Housing Market Assessment: 6 of the 15 metros assessed show evidence of overvaluation, down from 8 in its previous report. - Toronto real estate lawyer: Over $1B from investors have been lost in syndicated ... Read more
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