April 30th, 2019 Mortgage Industry Update The Bank of Canada announced on April 24th that it's overnight lending rate will remain at 1.75%. The prime rate remains 3.95%. The common prediction currently stands that the Bank of Canada will likely keep rates consistent for 2019. Additionally this week:- Zoocasa: You would need to be in the top 25% of income earners in both Toronto and Vancouver to afford a typical condo in those cities ($656,900 and $522,300, respectively). Need to be in top ... Read more

April 23rd, 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:- CBRE Global Living Report: Housing prices continued to grow in all but 5 of 35 cities analyzed. Hong Kong (average home $1,235,220 USD) and Singapore ($874,372 USD) ranked ... Read more

April 16th, 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:- The Ontario Real Estate Association is lobbying the provincial government to prohibit bully offers, citing its desire to enhance professional standards in the industry. - CBRE: Asian investments in ... Read more

April 9th, 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:- TREB President: “The stress test provisions and mortgage lending guidelines generally, including allowable amortization periods for insured mortgages, should be reviewed”. The board says the stress tests continues ... Read more

April 2nd, 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:- Experts see signs that mortgage interest rates in Canada may continue dropping this year. BMO Senior Economist points to the fact that five-year government bond yields have been ... Read more