April 24th Mortgage Industry Update

April 24th, 2018 Mortgage Industry Update The Bank of Canada announced on April 18th that it's overnight lending rate will remain at 1.25%. The prime rate thus remains at 3.45% with most lenders. The 5 year posted rate remains at 5.14%. Almost all fixed rates remain stable without any significant changes in the 3%-3.5% range. Additionally this week: - Bank of Canada maintains overnight rate target at 1.25%! no change in prime rate present, good news for any variable rate mortgage holders! - TREB: ... Read more

April 17th Mortgage Industry Update

April 17th, 2018 Mortgage Industry Update The Bank of Canada announced on March 7th that it's overnight lending rate will remain at 1.25%. The prime rate thus remains at 3.45% with most lenders. The 5 year posted rate remains at 5.14%. Almost all fixed rates remain stable without any significant changes. Additionally this week: - Realosophy Realty: The rapid decline in Toronto housing prices in the second half of 2017 led to nearly 1,000 households losing about $135 million in market value, as ... Read more

April 10th Mortgage Industry Update

April 10th, 2018 Mortgage Industry Update The Bank of Canada announced on March 7th that it's overnight lending rate will remain at 1.25%. The prime rate thus remains at 3.45% with most lenders. The 5 year posted rate remains at 5.14%. Almost all fixed rates remain stable without any significant changes. Additionally this week: - RBC Report: Buying a house became more affordable in Canada for the first time in more than two years in the last quarter of 2017, but the relief ... Read more

April 3rd Mortgage Industry Update

April 3rd, 2018 Mortgage Industry Update The Bank of Canada announced on March 7th that it's overnight lending rate will remain at 1.25%. The prime rate thus remains at 3.45% with most lenders. The 5 year posted rate remains at 5.14%. Almost all fixed rates remain stable without any significant changes. Additionally this week: - A recent Sotheby’s report on the luxury sector shows sales of $1 million-plus homes in Montreal increased by 20 per cent in the first two months of 2018. ... Read more
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