August 29th Mortgage Industry Update

August 29th, 2017 Mortgage Industry Update The Bank of Canada announced on July 12th that it's overnight lending rate will increase from 0.50% to 0.75%. The prime rate at almost all institutions has increased from 2.70% to 2.95%, the first increase in 7 years. Fixed rates now remain stable. Additionally this week: - RBC CEO: More measures to cool housing market may be needed if Toronto sees bounce-back in prices as Vancouver did even after foreign tax. - Young home owners in Calgary possess more ... Read more

August 22nd Mortgage Industry Update

August 22nd, 2017 Mortgage Industry Update The Bank of Canada announced on July 12th that it's overnight lending rate will increase from 0.50% to 0.75%. The prime rate at almost all institutions has increased from 2.70% to 2.95%, the first increase in 7 years. Fixed rates have slightly risen over the last 4 weeks and seem to have stabilized now. Additionally this week: - Fraser Institute: Mortgage interest rates fell from 7% to 2.7% between 2000 and 2016 and increased the maximum mortgage for ... Read more

August 15th Mortgage Industry Update

August 15th, 2017 Mortgage Industry Update The Bank of Canada announced on July 12th that it's overnight lending rate will increase from 0.50% to 0.75%. The prime rate at almost all institutions has increased from 2.70% to 2.95%, the first increase in 7 years. Fixed rates have slightly risen over the last 3 weeks and seem to have stabilized now. Additionally this week: - MCAN: Lower home sales are forecast in Ontario and British Columbia as regulatory changes continue to impact the markets. - Cushman ... Read more

August 8th Mortgage Industry Update

August 8th, 2017 Mortgage Industry Update The Bank of Canada announced on July 12th that it's overnight lending rate will increase from 0.50% to 0.75%. The prime rate at almost all institutions has increased from 2.70% to 2.95%, the first increase in 7 years. Fixed rates have slightly risen over the last 3 weeks and seem to have stabilized now. Additionally this week: - Number of sales transactions fell 40.4% in July compared to 2016. Average price of all homes in GTA was $746,218, ... Read more

August 1st Mortgage Industry Update

August 1st, 2017 Mortgage Industry Update The Bank of Canada announced on July 12th that it's overnight lending rate will increase from 0.50% to 0.75%. The prime rate at almost all institutions has increased from 2.70% to 2.95%, the first increase in 7 years. Fixed rates have slightly risen over the last 3 weeks and seem to have stabilized now. Additionally this week: - June 2017 saw sales fall in 70 per cent of all local markets covered by the CREA’s measurements. - CMHC: Toronto ... Read more
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