September 26th, 2017 Mortgage Industry Update
The Bank of Canada announced on September 6th that it's overnight lending rate will increase from 0.75% to 1.00%. The prime rate at almost all institutions has increased from 2.95% to 3.20%, the second consecutive increase in 2017. Most fixed rates remain stable.
Additionally this week:
- CMHC: Nationwide in Q1 2017, 81% of borrowers with a mortgage had a good or excellent credit score, up 1% from the same time in 2016.
- Bloomberg and Nanos Canadian Confidence ...
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