June 27th, 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: - TheRedPin report: Property prices and proximity to the busiest stations of the Toronto subway system appear to be correlated. - Toronto Region Board of Trade survey: 69% of the respondents indicated preference for houses with at ... Read more

June 20th, 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: - StatsCan: Amount of household debt as a proportion of household disposable income slipped to 166.9% in Q1 2017, compared with 167.2% in 2016. - CREA: Nationally, home sales fell 6.2% in May, which marked the ... Read more

June 13th, 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: - CMHC: 6 month moving average rate of construction of new homes in Canada went up to 214,621 units in May 2017 (compared to 213,435 in April). - CIBC: 69 per cent of Canadians do not know ... Read more

June 6th, 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: - TREB: GTA home sales plunged last month by 20.3%. Average selling price for all properties in May was $863,910, up 14.9% from last year. - REBGV: Home sales across the region returned to near record levels ... Read more