June 25th Mortgage Industry Update

June 25th, 2019 Mortgage Industry Update The Bank of Canada announced on May 29th 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 the remainder of 2019. Additionally this week:- Federal Government unveils new mortgage incentive details: For existing homes, incentive will be 5% while for new homes there will be a 5% or 10% option; aims to increase new supply. Interest ... Read more

June 18th Mortgage Industry Update

June 18th, 2019 Mortgage Industry Update The Bank of Canada announced on May 29th 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 the remainder of 2019. Additionally this week:- Finder.com: Canadian cities have some of the smallest discounts for moving out to the suburbs. Toronto: price is just 20 per cent cheaper than in the inner city, Vancouverites can save 24%. ... Read more

June 11th Mortgage Industry Update

June 11th, 2019 Mortgage Industry Update The Bank of Canada announced on May 29th 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 the remainder of 2019. Additionally this week:- Bank of Canada: The balance of mortgage debt at institutional lenders Canada wide reached a new all-time high in April. The outstanding balance reached $1.56 trillion, up 0.17% from the month before. ... Read more

June 4th Mortgage Industry Update

June 4th, 2019 Mortgage Industry Update The Bank of Canada announced on May 29th 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 the remainder of 2019. Additionally this week:- Organisation for Economic Co-operation and Development: Canada’s house price to income ratio is the highest in the world – by a large margin. Tops the list of high-income, advanced economies. The index ... Read more
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