October 2nd, 2018 Mortgage Industry Update
The Bank of Canada announced on September 5th that it's overnight lending rate will remain at 1.50%. The prime rate thus remains 3.70%. Good news for variable rate mortgage holders as they can expect no changes to their rates! The common prediction currently stands at another rate increase for October's meeting.
Additionally this week:
- Zoocasa report for most affordable markets reveals Thunder Bay is best, with an average price of $227,750 and an average median income ...
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