December 16th Mortgage Industry Update

December 16th, 2017 Mortgage Industry Update The Bank of Canada announced on December 6th 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 now stabilized in the 3%+ range. Additionally this week: - RBC economics: The drivers of Canada’s economy are set to shift in 2018. After several years of housing activity acting as the main engine of ... Read more

December 12th Mortgage Industry Update

December 12th, 2017 Mortgage Industry Update The Bank of Canada announced on December 6th 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 now stabilized in the 3%+ range. Additionally this week: - Mortgage Professionals Canada report: 69% of Canadians surveyed would classify mortgages as “good debt.” Another 71% considered real estate to be a good long term ... Read more

December 5th Mortgage Industry Update

December 5th, 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: - Toronto home prices have climbed 63 per cent over the last five years, with about half of that gain coming in the ... Read more
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