February 26th Mortgage Industry Update

February 26th, 2019 Mortgage Industry Update The Bank of Canada announced on January 9th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands at the Bank of Canada will very gradually increase rates in 2019.  Additionally this week:- Some 29% of respondents to a recent Ipsos survey say they are likely to buy a home in the GTA this year. That’s up from 26% last year, which has been commissioned by the Toronto ... Read more

February 19th Mortgage Industry Update

February 19th, 2019 Mortgage Industry Update The Bank of Canada announced on January 9th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands at the Bank of Canada will very gradually increase rates in 2019.  Additionally this week:- CMHC: Homes in Toronto + Victoria showing fewer signs of being overvalued, taking some pressure off a market that remains "vulnerable". Now shows “moderate” overvaluation, down from the riskiest rating of “high” given in October. - ... Read more

February 12th Mortgage Industry Update

February 12th, 2019 Mortgage Industry Update The Bank of Canada announced on January 9th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands at the Bank of Canada will very gradually increase rates in 2019.  Additionally this week:- Canadian Real Estate Association showed that national home sales in 2018 declined by 11.1% annually. This represented the greatest shrinkage ever since the recession in 2008, immediately following a 4.64% shrinkage just the previous year. - ... Read more

February 5th Mortgage Industry Update

February 5th, 2019 Mortgage Industry Update The Bank of Canada announced on January 9th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands at the Bank of Canada will very gradually increase rates in 2019.  Additionally this week:- Canadian Real Estate Association showed that national home sales in 2018 declined by 11.1% annually. This represented the greatest shrinkage ever since the recession in 2008, immediately following a 4.64% shrinkage just the previous year. - ... Read more
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