September 26th Mortgage Industry Update

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 ... Read more

September 19th Mortgage Industry Update

September 19th, 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: - Ontario Ministry of Finance: # of non-resident owners of real estate in Greater Golden Horseshoe down by 1.5% since new Housing Plan intro. - CREA sales forecast down this year as national ... Read more

September 12th Mortgage Industry Update

September 12th, 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: - REBGV: August sales numbers saw appreciable increases, with 2.8% growth from July and 22.3% from 2016. Total listings up 3.5% from 2016. - Equifax Canada: Non-mortgage consumer debt climbed 3.3% year-over-year in ... Read more

September 5th Mortgage Industry Update

September 5th, 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: - Stats Can: Q2 GDP grew at annualized 4.5%,topping forecasts for 3.7% and making for the best pace of growth since the third quarter of 2011. - Bloomberg Nanos Canadian Confidence Index showed ... Read more
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