May 29th Mortgage Industry Update

May 29th, 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 has officially increased with the Bank of Canada from 5.14% to 5.34%. Fixed rates are stabilizing from recent changes in the bond market.   Additionally this week: - CIBC study: Canadians aged 18-34 are far more likely to be landlords than any other demographic. 30% of ... Read more

May 22nd Mortgage Industry Update

May 22nd, 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 has officially increased with the Bank of Canada from 5.14% to 5.34%. Fixed rates are stabilizing from recent changes in the bond market.   Additionally this week: - Victoria, B.C. has landed the top spot on Christie's global list of hottest luxury housing markets. Trailing Victoria ... Read more

May 15th Mortgage Industry Update

May 15th, 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 has officially increased with the Bank of Canada from 5.14% to 5.34%. Fixed rates are stabilizing from recent changes in the bond market.   Additionally this week: - The Bank of Canada raised the conventional five-year mortgage rate from 5.14% to 5.34% after all Big Six ... Read more

May 8th Mortgage Industry Update

May 8th, 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 has increased with most lenders and is between 5.14-5.59%. Fixed rates are rising due to recent changes in the bond market.  Additionally this week: - TREB: Home sales are off to the worst start in 9 years. Fewest transactions to start a year since the ... Read more

May 1st Mortgage Industry Update

May 1st, 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% with most lenders, however some banks have started small increases. Fixed rates are slightly rising due to recent changes in the bond market. Additionally this week: - BILD: Single-family home prices, including detached, semi-detached and townhouses, rose 7.4% year over year in ... Read more
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