August 28th Mortgage Industry Update

August 28th, 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: - The Supreme Court of Canada has refused to hear an appeal from TREB that would have prevented sales numbers from being posted on password-protected ... Read more

August 21st Mortgage Industry Update

August 21st, 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: - Better Dwelling: Average monthly housing mortgage payments much higher in Q1 2018 compared to Q4 2017. In Toronto: reached $1,662 in Q1, 6.4% increase ... Read more

August 14th Mortgage Industry Update

August 14th, 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: - Altus Group: 574 commercial investment property sales transactions in GTA valued at over $1 million in Q2 2018. This brought the total investments for ... Read more

August 7th Mortgage Industry Update

August 7th, 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: - BILD: Sales of new single-family homes fell 19% year-over-year in June, and were 71% below their 10-year average. The benchmark price of a low-rise ... Read more
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