August 27th Mortgage Industry Update

August 27th, 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:- Point2Homes: In 2001, 7.8% of all homes in the country were empty. In 2006, the vacancy rate had jumped to 8.4% and by ... Read more

August 20th Mortgage Industry Update

August 20th, 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:- CMHC: Homeownership rate among 65+ in the Toronto metro area was 75.1% as of 2016, up from 73.4% in 2006. Seniors owned 1/4 ... Read more

August 13th Mortgage Industry Update

August 13th, 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:- Statistics Canada: Canadian families more likely to be homeowners now than in 1999. Share of those with paid off mortgages down from 46% ... Read more

August 6th Mortgage Industry Update

August 6th, 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: Outstanding balance of mortgage debt was 3.7% higher year-over-year in June, up to $1.57 trillion. Last month saw the largest ... Read more
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