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 ... Read more

February 20th, 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: - Teranet-National Bank composite house price index rose 0.3% last month from December and gained 8.7% in January from a year ago, the smallest 12-month rise since May 2016. Toronto rising 0.2% ... Read more

February 13th, 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: - RE/MAX INTEGRA report: Home prices in the GTA and the Hamilton-Burlington region more than doubled in the last 10 years, while the average price of a home rose 81 per cent ... Read more

February 6th, 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: - Just 1 in 4 surveyed for CMHC’s 2018 Prospective Home Buyer Survey said that an interest rate would make them very likely to delay purchasing a new home. - TREB forecasting sales ... Read more