March 26th Mortgage Industry Update

March 26th, 2019 Mortgage Industry Update The Bank of Canada announced on March 6th 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 might either keep rates still for 2019, or the potential for one further increase. Additionally this week:- Sotheby’s International Realty Canada Report: In the first two months of this year sales of Toronto homes priced between $2–4 million dropped 21 percent compared to the same ... Read more

March 19th Mortgage Industry Update

March 19th, 2019 Mortgage Industry Update The Bank of Canada announced on March 6th 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 might either keep rates still for 2019, or the potential for one further increase. Additionally this week:- CMHC: 3.8% of all residential properties in Toronto have at least one non-resident owner, with this number falling slightly to 3.3% province-wide. Proportions highest for condominiums, with 7.6% ... Read more

March 12th Mortgage Industry Update

March 12th, 2019 Mortgage Industry Update The Bank of Canada announced on March 6th 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 might either keep rates still for 2019, or the potential for one further increase. Additionally this week:- Bank of Canada stands still on the overnight rate at 1.75%. Good news for variable rate mortgage holders as there is no expected change in prime rates! - Teranet: ... Read more

March 5th Mortgage Industry Update

March 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:- BC government says it has launched Canada's first registry aimed at cracking down on pre-sale property flipping (assignments) and tax evasion. Condo developers will be required to securely gather and report the identity and citizenship ... Read more
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