January 26th Mortgage Industry Update

January 26th, 2016 Mortgage Industry Update The Bank of Canada announced on January 20th that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, almost all fixed rates have climbed and stabilized, as compared to the end of 2015. Additionally this week: - Statistics Canada released its year-end review for 2015, which showed the country's annual average increase in inflation was 1.1 per cent. - Stats Can: Ontario added 23,000 jobs in December. - Bank of Canada maintains overnight ... Read more

January 19th Mortgage Industry Update

January 19th, 2016 Mortgage Industry Update The Bank of Canada announced on December 2nd that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, almost all fixed rates have climbed and stabilized, as compared to the end of 2015. Additionally this week: - 3 of Canada’s big 5 banks changing predictions to a rate cut on Wednesday. Bloomberg economist survey: 13/27 calling for cut, 14 saying none. - Urbanation’s 2015 Q4 stats: GTA condo apartments rented through MLS ... Read more

January 12th Mortgage Industry Update

January 5th, 2016 Mortgage Industry Update The Bank of Canada announced on December 2nd that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, almost all fixed rates have climbed and stabilized, as compared to the end of 2015. Additionally this week: - CMHC final 2015 housing starts report: Canadian starts down to 203,502 in Dec from 208,204 in Nov. Starts for 2015 up as compared to 2014. Toronto reported a total of 42,287 total starts in ... Read more

January 5th Mortgage Industry Update

January 5th, 2016 Mortgage Industry Update The Bank of Canada announced on December 2nd that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, almost all fixed rates have climbed and stabilized, as compared to the end of 2015. Additionally over the holiday season: - CMHC: Millennials are set to drive growth in Canada’s housing market, perhaps to a greater extent than their parents did. - Poll commissioned by Global News and conducted by Ipsos found that 53 ... Read more

December 21st Mortgage Industry Update

December 21st, 2015 Mortgage Industry Update The Bank of Canada announced on December 2nd that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, almost all fixed rates have climbed ahead of the winter season cool-down, and increases in the bond market. Additionally this week: - CBRE: Commercial real estate investments moving through Canada’s markets would drop to $23.6B next year, down from $26.1B in 2014. - US Federal Reserve announced its benchmark rate target and, as ... Read more

December 15th Mortgage Industry Update

December 15th, 2015 Mortgage Industry Update The Bank of Canada announced on December 2nd that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, almost all fixed rates have climbed ahead of the winter season cool-down, and increases in the bond market. Additionally this week: - REMAX: Price appreciation expected to continue into 2016; expected to increase 7% in Greater Vancouver and 5% in the Greater Toronto Area. - New minimum mortgage down payment changes announced by ... Read more

December 8th Mortgage Industry Update

December 8th, 2015 Mortgage Industry Update The Bank of Canada announced on December 2nd that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, almost all fixed rates have climbed ahead of the winter season cool-down, and increases in the bond market. Additionally this week: - Stats Can: Canadian economy lost 36,000 jobs in November. Largely driven by declines in part-time work. Overall unemployment rate up to 7.1%. - TREB: GTA sales 14% higher in November 2015 compared ... Read more

December 1st Mortgage Industry Update

December 1st, 2015 Mortgage Industry Update The Bank of Canada announced on October 21st that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, almost all fixed rates have climbed ahead of the winter season cool-down, and increases in the bond market. Additionally this week: - CHMC released quarterly results Friday. Low arrears rates: 0.35% as at September 30, Claims Paid - $76 million, a decrease of $38 million. - Manulife Bank of Canada’s Debt Survey: 38% of ... Read more

November 24th Mortgage Industry Update

November 24th, 2015 Mortgage Industry Update The Bank of Canada announced on October 21st that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, almost all fixed rates have climbed ahead of the winter season cool-down. Additionally this week: - Scotiabank poll: 61% of home sellers seek those with a mortgage pre-approval, 69% buyers already likely to have pre-approval. - CMHC: “On December 3, CMHC will release a national report highlighting foreign ownership as part of the HMI ... Read more

November 17th Mortgage Industry Update

November 17th, 2015 Mortgage Industry Update The Bank of Canada announced on October 21st that it's overnight lending rate will remain at 0.50%. The prime rate remains at 2.70%. Additionally, most fixed rates have started to slightly climb ahead of the winter season cool-down. Additionally this week: - RBC: US Employment up by 5.0% in October. Expectations for the US Federal Reserve to raise fed funds at its December meeting are up. - IMF is advising the US Federal Reserve to hold off on ... Read more
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