November 27th Mortgage Industry Update

November 27th, 2018 Mortgage Industry Update The Bank of Canada announced on October 24th that it's overnight lending rate will increase to 1.75% from 1.50%. The prime rate increases from 3.70% to 3.95%. The common prediction currently stands at the Bank of Canada continuing to increase rates in the near future as the word "gradual" was omitted from their recent release. Additionally this week: - BILD + MGP study: Currently, just 4.5% of greenfield in GTA + Hamilton Area available for new development. ... Read more

November 20th Mortgage Industry Update

November 20th, 2018 Mortgage Industry Update The Bank of Canada announced on October 24th that it's overnight lending rate will increase to 1.75% from 1.50%. The prime rate increases from 3.70% to 3.95%. The common prediction currently stands at the Bank of Canada continuing to increase rates in the near future as the word "gradual" was omitted from their recent release. Additionally this week: - Bank of Canada analysis: Mortgage stress tests introduced 2 years ago have reduced the share of new high-leverage, ... Read more

November 13th Mortgage Industry Update

November 13th, 2018 Mortgage Industry Update The Bank of Canada announced on October 24th that it's overnight lending rate will increase to 1.75% from 1.50%. The prime rate increases from 3.70% to 3.95%. The common prediction currently stands at the Bank of Canada continuing to increase rates in the near future as the word "gradual" was omitted from their recent release. Additionally this week: - The price per square foot (PPSF) of a downtown Toronto condo increased more than 10% in the last ... Read more

November 6th Mortgage Industry Update

November 6th, 2018 Mortgage Industry Update The Bank of Canada announced on October 24th that it's overnight lending rate will increase to 1.75% from 1.50%. The prime rate increases from 3.70% to 3.95%. The common prediction currently stands at the Bank of Canada continuing to increase rates in the near future as the word "gradual" was omitted from their recent release. Additionally this week: - Mustel Group and Sotheby’s International Realty Canada report: Despite rising housing costs, eight out of ten young, urban ... Read more
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