February 27th, 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:
- BILD: New construction home sales declined by 48% in January in the Toronto region, compared to 2017. 31% drop from the 10-year average. Single-family benchmark home price rose 19.6% last month ...
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