June 29th Mortgage Industry Update

June 29th, 2021 Mortgage Industry Update The Bank of Canada announced on June 9th 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: – Rentals.ca National Rent Report: The average asking rent for all Canadian properties in May grew by ... Read more

June 22nd Mortgage Industry Update

June 22nd, 2021 Mortgage Industry Update The Bank of Canada announced on June 9th 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: – Properly: By comparing the sale prices of GTA homes during the housing peak of January - ... Read more

June 15th Mortgage Industry Update

June 15th, 2021 Mortgage Industry Update The Bank of Canada announced on June 9th 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: – The majority of economists (55%) believe that the Bank of Canada overnight rate will hold for ... Read more

June 8th Mortgage Industry Update

June 8th, 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: – Canada's economy could be in for a significant rebound this year, according to an upgraded outlook ... Read more

June 1st Mortgage Industry Update

June 1st, 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: – BILD: Condos comprised 3,619 new home sales in the GTA in April. This was the highest ... Read more
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