September 4th, 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: Benchmark price of new single-family homes in GTA in July was $1,142,574, representing an almost flat 0.85% increase from June and 13.2% ...
Read more