July 30th, 2019 Mortgage Industry Update The Bank of Canada announced on July 10th 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, with the small possibility of a rate decrease. Additionally this week:- Toronto has been ranked as Canada’s most attractive city to move to, according to a survey from Finder(.)com. Asked 1,200 Canadian adults to ... Read more

July 23rd, 2019 Mortgage Industry Update The Bank of Canada announced on July 10th 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, with the small possibility of a rate decrease. Additionally this week:- CREA: Number of home sales in Canada up 0.3% in June from 2018, but down 0.2% from May. Up 10% from the six-year ... Read more

July 16th, 2019 Mortgage Industry Update The Bank of Canada announced on July 10th 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, with the small possibility of a rate decrease. 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 ... Read more

July 9th, 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:- Marcus & Millichap: Spurred by heightened demand, the GTA’s commercial sector seeing some of lowest vacancy rates in North America. Net absorption expected to approach 5M square feet this year, pulling down ... Read more

July 2nd, 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:- Better Dwelling: Housing data between January 2000 and March 2019 reveals that Vancouver’s home prices grew 316%; more than major US cities - New York City, Los Angeles, San Francisco, Seattle. Toronto ... Read more