January 30th Mortgage Industry Update

January 30th, 2018 Mortgage Industry Update The Bank of Canada announced on January 17th that it's overnight lending rate will increase to 1.25% from 1.00%. The prime rate has thus increased to 3.45% with most lenders. The 5 year posted rate has also changed to 5.14% with most lenders. Additionally this week: - Fitch report gives Canada a stable/negative rating as low arrears clash with rising house prices which are at risk of declining. It’s forecast for 2018 is for prices to rise 5% ... Read more

New Mortgage Rules Simplified and Explained!

New Mortgage Rules Simplified and Explained! Happy New Year! And with the new year comes an avid discussion of the future of the real estate market in Canada, and specifically in the GTA. Over the past few weeks I have spoken to countless realtors, clients, family, and friends about the new mortgage rules that were implemented on January 1st. Everyone seems to interpret them differently – some with panic, and some with ease. For this reason, and to keep things clear, I ... Read more

January 23rd Mortgage Industry Update

January 23rd, 2018 Mortgage Industry Update The Bank of Canada announced on January 17th that it's overnight lending rate will increase to 1.25% from 1.00%. The prime rate has thus increased to 3.45% with most lenders. The 5 year posted rate has also changed to 5.14% with most lenders. Additionally this week: - Bank of Canada increases overnight rate target to 1.25%, from 1%. The Bank Rate is correspondingly 1.5% and the deposit rate is 1%. The prime rate increases to 3.45% from 3.20%. - ... Read more

January 16th Mortgage Industry Update

January 16th, 2018 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: - Royal LePage: Canada’s residential real estate market saw strong but slowing year-over-year price growth in the fourth quarter of 2017. Based on data in 53 ... Read more

January 9th Mortgage Industry Update

January 9th, 2018 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: - CIBC poll: Settling debts remains the top financial priority for Canadian consumers in 2018. This represented the eighth consecutive year that paying off existing debts ... Read more
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