May 28th Mortgage Industry Update

May 28th, 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:- CMHC: 223,000 new mortgage loans in Canada in Q4 2018, 4.8% lower than 2017. Even as number of loans fell, average value of all mortgages in Canada reached $209,570, which is more than 3% higher ... Read more

May 21st Mortgage Industry Update

May 21st, 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:- Teranet-National Bank Composite House Price Index: Prices were flat last month from March. It was just the second time in 21 years of data that index showed no increase in April. Prices fell in 6 ... Read more

May 14th Mortgage Industry Update

May 14th, 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:- Sotheby’s International Realty Canada: 28% of ‘modern family’ homeowners in major Canadian metros said that transit-friendliness is one of their top 3 homebuying criteria. Transit links more important than car-friendliness (17%), with cycle-friendly neighbourhoods trailing ... Read more

May 7th Mortgage Industry Update

May 7th, 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:- The latest reading of Canada’s economy brings both good and bad news for the housing market. While growth slowed in February – to just 0.1% following a 0.3% rise in January – the weakness will ... Read more
css.php