May 25th Mortgage Industry Update

May 25th, 2021 Mortgage Industry Update The Bank of Canada announced on April 21st that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – CREA: National home sales fell 12.5% in April from March, as new listings also declined 5.4%. ... Read more

May 18th Mortgage Industry Update

May 18th, 2021 Mortgage Industry Update The Bank of Canada announced on April 21st that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – JLL: The office vacancy rate in the downtown core rose to 8.4 per cent in the ... Read more

May 11th Mortgage Industry Update

May 11th, 2021 Mortgage Industry Update The Bank of Canada announced on April 21st that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – Statistics Canada: The Canadian economy grew at an annual rate of 6.5% through Q1. Preliminary estimate ... Read more

May 4th Mortgage Industry Update

May 4th, 2021 Mortgage Industry Update The Bank of Canada announced on April 21st that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until the later half of 2022 now, as they observe the country's faster than expected recovery from COVID-19.  Additionally this week: – National Bank of Canada Chief Executive Officer Louis Vachon said the country should consider ending the ... Read more
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