July 31st Mortgage Industry Update

July 31st, 2018 Mortgage Industry Update The Bank of Canada announced on July 11th that it's overnight lending rate will increase to 1.50% from 1.25%. The prime rate thus increases to 3.70% from 3.45% with most lenders. The common prediction remains that there will be no further rate increases for the remainder of the year.   Additionally this week: - Canada’s annual inflation rate rose to 2.5% last month, boosted by consumer prices which grew at their fastest pace in six years. The boost ... Read more

July 24th Mortgage Industry Update

July 24th, 2018 Mortgage Industry Update The Bank of Canada announced on July 11th that it's overnight lending rate will increase to 1.50% from 1.25%. The prime rate thus increases to 3.70% from 3.45% with most lenders. The common prediction remains that there will be no further rate increases for the remainder of the year.   Additionally this week: - RE/MAX Hot Pocket Report: Detached home prices rose on a quarter-over-quarter basis in 75% of GTA neighbourhoods in Q2. - TREB: Condo apartments saw an ... Read more

July 17th Mortgage Industry Update

July 17th, 2018 Mortgage Industry Update The Bank of Canada announced on July 11th that it's overnight lending rate will increase to 1.50% from 1.25%. The prime rate thus increases to 3.70% from 3.45% with most lenders. The common prediction remains that there will be no further rate increases for the remainder of the year.   Additionally this week: - Bank of Canada increases overnight rate target to 1.50% from 1.25%. The Bank Rate is correspondingly 1.75% and the deposit rate is 1.25%. Prime ... Read more

July 10th Mortgage Industry Update

July 10th, 2018 Mortgage Industry Update The Bank of Canada announced on May 30th 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: - Juwai: Chinese nationals expressed interest in about US$1.45 billion worth of Canadian properties last year, with interest in ... Read more

July 3rd Mortgage Industry Update

July 3rd, 2018 Mortgage Industry Update The Bank of Canada announced on May 30th 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: - CMHC study surveying 30,000 recent homebuyers in the three cities says 68 per cent of Vancouver respondents, 48 ... Read more
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