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 ...
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