September 24th Mortgage Industry Update

September 24th, 2019 Mortgage Industry Update The Bank of Canada announced on September 4th 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 raises national home sales forecast to 482,000 units this year, up 5% from 2018, also up 19,000 from June forecast. Sales are ... Read more

September 17th Mortgage Industry Update

September 17th, 2019 Mortgage Industry Update The Bank of Canada announced on September 4th 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:- Mortgage Professionals Canada survey: For those who already own a home, 90% are happy with their purchase. An overwhelming 76% of Canadians believe ... Read more

September 10th Mortgage Industry Update

September 10th, 2019 Mortgage Industry Update The Bank of Canada announced on September 4th 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:- TREB: Home sales in the GTA in August were up 13.4% compared with 2018, and up 0.8% from July. There were 7,711 home ... Read more

September 3rd Mortgage Industry Update

September 3rd, 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:- Mortgage Professionals Canada survey: 6.99 out of 10 consumers agree that mortgage debt is good debt. Most people say that real estate is ... Read more
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