October 27th Mortgage Industry Update

October 27th, 2020 Mortgage Industry Update The Bank of Canada announced on September 9th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada has openly stated that it will more than likely keep rates at this "effective lower bound" for the immediate future until the effects of the pandemic are more clear. Additionally this week:– Pollara Strategic Insights survey: 56% of participants said they would seek help from family as they geared up to ... Read more

October 20th Mortgage Industry Update

October 20th, 2020 Mortgage Industry Update The Bank of Canada announced on September 9th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada has openly stated that it will more than likely keep rates at this "effective lower bound" for the immediate future until the effects of the pandemic are more clear. Additionally this week:– Rentals.ca report: The average listing price for a one-bedroom in the old city of Toronto for September was $1,967. ... Read more

October 13th Mortgage Industry Update

October 13th, 2020 Mortgage Industry Update The Bank of Canada announced on September 9th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada has openly stated that it will more than likely keep rates at this "effective lower bound" for the immediate future until the effects of the pandemic are more clear. Additionally this week:– TRREB: September 2020 GTA sales were up 42.3% from 2019 to 11,083 (set a new record for home sales ... Read more

October 6th Mortgage Industry Update

October 6th, 2020 Mortgage Industry Update The Bank of Canada announced on September 9th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada has openly stated that it will more than likely keep rates at this "effective lower bound" for the immediate future until the effects of the pandemic are more clear. Additionally this week:– Royal LePage Luxury Property Report: From March 15 to September 9, price of a luxury condo in Toronto dipped ... Read more
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