November 28th Mortgage Industry Update

November 28th, 2017 Mortgage Industry Update The Bank of Canada announced on October 25th that it's overnight lending rate will remain at 1.00%. The prime rate remains the same. It is common prediction for rates to rise another 2 times by the end of 2018. Most fixed rates have risen significantly and are now in the 3%+ range. Additionally this week: - OECD report: Canada, South Korea and the UK are the top 3 nations for household borrowing; and Canada also has high corporate ... Read more

November 21st Mortgage Industry Update

November 21st, 2017 Mortgage Industry Update The Bank of Canada announced on October 25th that it's overnight lending rate will remain at 1.00%. The prime rate remains the same. It is common prediction for rates to rise another 2 times by the end of 2018. Most fixed rates have risen significantly and are now in the 3%+ range. Additionally this week: - CREA: Number of homes sold through its MLS system in October was up 0.9% from September, third consecutive monthly increase. - Statistics Canada: ... Read more

November 14th Mortgage Industry Update

November 14th, 2017 Mortgage Industry Update The Bank of Canada announced on October 25th that it's overnight lending rate will remain at 1.00%. The prime rate remains the same. It is common prediction for rates to rise another 2 times by the end of 2018. Most fixed rates have risen significantly and are now in the 3%+ range. Additionally this week: - The Ryerson City Building Institute: Condo development reached its highest ever level in the middle of 2017 with 105,000 condo apartments currently ... Read more

November 7th Mortgage Industry Update

November 7th, 2017 Mortgage Industry Update The Bank of Canada announced on October 25th that it's overnight lending rate will remain at 1.00%. The prime rate remains the same. It is common prediction for rates to rise another 2 times by the end of 2018. Most fixed rates have risen significantly and are now in the 3%+ range. Additionally this week: - TREB: Sales up 12% from September to October. However, down 27% from 2016. Average selling price was $780,104, up 2.3% from October ... Read more
css.php