November 26th, 2019 Mortgage Industry Update The Bank of Canada announced on October 30th 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 and into early 2020, with the next major move likely being a rate decrease. Additionally this week:- CMHC Study: 42% of buyers this year said they felt concerned or were uncertain about the process ... Read more

November 19th, 2019 Mortgage Industry Update The Bank of Canada announced on October 30th 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 and into early 2020, with the next major move likely being a rate decrease. Additionally this week:- Statistics Canada's new Residential Property Price Index: House prices increased 0.20% in Q3 2019, down 0.59% from ... Read more

November 12th, 2019 Mortgage Industry Update The Bank of Canada announced on October 30th 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 and into early 2020, with the next major move likely being a rate decrease. Additionally this week:- RE/MAX: Sales of luxury residential properties worth $5 million+ are accelerating in GTA. Activity surpassed 2018 levels, ... Read more

November 5th, 2019 Mortgage Industry Update The Bank of Canada announced on October 30th 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 and into early 2020, with the next major move likely being a rate decrease. Additionally this week:- Statistics Canada: Real GDP only edged higher by 0.1% in August following an unchanged reading in July; ... Read more